Arthur Hayes Acquires 2 Million USD in Uniswap (UNI) Over Two Days

Arthur Hayes' UNI position surpassed 2 million USD on Monday, with a wallet identified by Etherscan holding 284,102 tokens after two days of purchases. Onchain Lens reported approximately 244,400 UNI bought on Sunday and 39,700 on Monday, with no governance vote, protocol upgrade, or market trigger linked to these transactions. A tracker noted the second purchase early Monday, identifying the address as 'Arthur Hayes 4.' Etherscan values this stake at just over 2 million USD, and the same address also holds about 8,013 Ethereum. Hayes typically avoids large orders in open markets and has previously withdrawn Ethereum and stablecoins from Galaxy Digital, Cumberland, and FalconX. In August, he invested to rebuild an Ether.fi position he had exited earlier. Hayes expressed his enthusiasm on X, referencing past profits during the 2020 DeFi boom and calling UNI his favorite type of sushi. UNI traded around 7.18 USD on Monday, up 2.55% in 24 hours, with a market value of approximately 4.47 billion USD, ranking it 22nd. The token has increased 76.8% in a month but remains 84% below its peak of 44.92 USD from May 2021. The Robinhood Chain contributed significantly to this rise, with the Arbitrum Orbit network accounting for 66% of Uniswap's earnings across 47 chains. Despite a softer crypto market, which fell 0.73% early Monday, Nansen-labelled whales increased their UNI holdings from 3.20 million to 3.46 million on September 2, while also selling 130,256 USD on decentralized exchanges, indicating partial profit-taking. Uniswap continues to capture more flow than its competitors.

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