UniSwap (UNI) is experiencing significant market activity, fueled by institutional deposits and whale movements. According to data from market analyst Lookonchain, a whale today deposited all 1.7 million UNI tokens (worth $15 million) that he bought between February 4 and October 12, 2025, into Binance. The transfer of these massive tokens to a cryptocurrency exchange (like Binance) indicates selling intentions, meaning the investor would incur a $1.45 million loss.
UNI Climbs Over 40% After Uniswap Announces Token Burn Proposal
With Bitcoin currently at $105,202, down 0.5% and 5.9% over the past week and month, respectively, multiple altcoins experience increased selling pressure. However, Uniswap has displayed resilience amid the wider market turbulence. UNI, which currently hovers at $8.46, has been up 66.4% and 39.7% over the past week and month, respectively, according to the latest metrics sourced from CoinGecko today. This impressive performance makes Uniswap one of the best-performing digital assets currently.
Despite the outstanding market performance, the move by the crypto whale (mentioned above) to transfer over 1 million UNI tokens to Binance raises the risk for UNI to go through a potential correction soon. The deposit activity hints that long-term institutional investors are taking advantage of the recent UNI price surges to book profits. However, a potential sell-off could trigger a bearish momentum in UNI price as whale activity often sways market sentiment.
Over the past 24 hours, UniSwap surged by over 40%, leading the entire DeFi tokens across the sector. The reason for the market rally was the new token burn proposal announced by Uniswap Labs yesterday, November 10.
Earlier today, November 11, UNI witnessed a price jump, climbing to a high of almost $10. The asset was hovering at $9.54 at some point, recording a 43.7% increase over the past 24 hours. The contributing factor to the price surge was the token burn proposal. Yesterday, UniSwap founder Heyden Adams and Uniswap Foundation co-founder Devin Walsh made an official governance proposal to channel some portion of protocol revenues towards burning UNI tokens.
UniSwap Price Outlook
As Uniswap maintains its market rally, multiple whales are capitalizing on price increases to make profits. As UNI briefly climbed to above the $10 mark, a whale holding a long UniSwap position with 10x leverage had an unrealized profit of $3 million on Hyperliquid, according to data tracked today by Onchain Lens.
Other whales are moving into the market to accumulate more UNI tokens, attracted by UniSwap’s proposal for the token burning exercise. At the same time, some institutional investors are making preparations to sell the tokens.
Technical indicators show Uniswap remains in a bullish trend. RIS currently stands at 64.38, indicating that Uniswap is very bullish and experiencing strong buying activity. The bullish sentiment could trigger an uptrend to $10.76, with support at $6.66.
