Uniswap Still Remains One Of The Most Popular Positions Among Ethereum Whales
- The place of Uniswap on the whale accounts
- Uniswap’s market performance
Uniswap became the most traded asset among the Ethereum whales, or the 1,000 largest addresses on the network, overturning the LINK token in trade volume, according to Whales Statistics.
The place of Uniswap on the whale accounts
Uniswap still remains one of the largest whale-level wallet wallets on Ethereum with the largest addresses holding over $ 100 million in tokens. In addition to the widely held position, UNI remains the most widely held token, meaning that almost all large wallets contain at least one Uniswap token.
?? #UNITED increasing 2.71% in the last 24 hours, with a current price of $ 18.66
Whale classification: https://t.co/N5qqsCBeXR pic.twitter.com/CLL9JM8BrG
– WhaleStats – Ethereum’s Top 1000 Rich List (@WhaleStats) December 29, 2021
The great popularity among whale-level addresses is likely due to the nature of the asset, which is a utility token for the decentralized Uniswap exchange. To use the exchange, users must spend their UNI tokens after purchasing them with Ethereum.
Uniswap’s main competitor, LINK, has a much larger stake among major Ethereum addresses, with over $ 250 million held by whales. Although both assets remain among the largest whale farms, their summed up number of holders still cannot be compared to the 1.1 million SHIB portfolios achieved recently.
Uniswap’s market performance
Uniswap could be considered the Shiba Inu of early 2021 with 1,100% growth from January through April. Due to the retracement, the Uniswap token lost almost 60% of its value. The reason for this decline is most likely related to increased competition in the decentralized finance sector.
Uniswap was one of the first and largest decentralized trading protocols to actively use automated DeFi trading through automated market maker technology. Uniswap has become extremely popular among users due to the complete decentralization achieved with the help of automated solutions which have solved most of the centralized exchange problems.