As the broader digital asset markets see a minor resurgence amid the start of 2025, a crypto wallet that has been inactive for a year reappeared today. Its resurface has gained significant attention from market participants.
Onchain Lens has shared a post on the X platform about the wallet, which holds massive amounts of Uniswap, reappeared after being dormant for one year.
Uniswap wallet reappears from dormancy
After its reappearance, the wallet sold 119,000 Uniswap tokens for $1,787,697 USDC at an average price of $15, today after being asleep for one year.
According to metrics shared by Onchain Lens, the wallet acquired 886,507 Uniswap tokens worth $5.82 million four years ago. Data shows that the wallet still holds 400,000 Uniswap tokens worth $6 million.
The trader engaged in strategic profit-taking activity to capitalize on the recent UNI price increases. The sales come at a when increasing numbers of Uniswap whales capturing attention with their profit-taking endeavors.
Three weeks ago, a whale offloaded 1.495 million UNI coins on Binance. The sales earned him a staggering $13.7 million profit after holding the tokens for just five months.
Another wallet also sold almost 5 million UNI tokens worth $80.97 million on Coinbase Prime after staying dormant for 4.25 years. These market activities highlight strategic timing by the investors amid volatile market conditions. Despite these sales, Uniswap whale activity continues to contribute to the token’s resilience.
Uniswap price updates
The trader’s profit-taking comes at a time when Uniswap has been recovering from bearish momentum. Amid the wider market recovery, UNI’s price has surged 12.70% in the past week. Its price is currently trading at $15.07, up 0.3% over yesterday. Its trading volume is also up 72.40%, indicating a recent increase in market activity.
After climbing to a high of $19.2 early part of last month, UNI witnessed increased bearish pressures, which led to a decline in its price to below the $13 support level.
However, the asset has regained strength from its previous losses. With the expected bullishness in 2025, Uniswap is likely to see an incredible uptrend, supported by this year’s highly anticipated altcoin season.
Its recovery is backed by several factors. Recently, as of January 2nd, the prominent DEX platform Uniswap hit a whopping $2.9 billion in daily transactions, a milestone that ranked it top of other dApps.
Its expansion into layer 2 networks has been part of the major factors that contributed to its growth and success in 2024. UNI launched another layer 2 solution, popularly known as Unichain, in October last year. Since then, Unichain has been efficiently engaging with other layer 2 networks running on top of the Optimism ecosystem.
Its layer 2 volumes have witnessed over 650% growth in the last one year. This is a tremendous rise to a record high of $30 billion in December 2024 from a low of $4 billion in 2022.
Part of this growth is also due to multiple professional traders and beginners who are easily accessing UNI’s innovative and user-friendly DEX platform.
