Uniswap's native token UNI is drawing attention after a notable whale purchase and a sharp increase in Binance-held reserves, creating a mixed picture of confidence and potential selling pressure.
According to on-chain data highlighted by @lookonchain, whale 0xd42B spent $1.5 million to acquire 159,698 UNI at an average price of $9.39 following a recent price decline. The purchase could signal a bullish outlook even as broader cryptocurrency markets trade with mixed momentum.
Uniswap has also been capturing larger market share in tokenized stock deposits, with daily fees recently reaching $5.2 million, underscoring strong user engagement. At the same time, Binance's UNI reserve has climbed to 71,584,353 tokens, its highest level since at least June 25. The token has rallied approximately 72% from its recent base, moving from about $5.00 in late August through $6, $7, and $9 to a local high near $10.90 before pulling back to around $8.90.
September brought several meaningful positive UNI inflow sessions on Binance, including a spike of about 4.11 million UNI. While rising exchange reserves do not always mean immediate selling—tokens can be moved for market making, collateral, or custody—deposits into liquid centralized exchanges generally make assets easier to trade. The timing is notable because UNI is technically extended after its rapid advance.
From a technical perspective, UNI remains above its major moving averages, with the shortest average near $7.20 and the RSI cooling after nearing overbought territory. Analysts are watching the $8.50–$8.70 support zone; holding it could keep the $10–$11 range accessible. A decisive loss of about $7.80 could expose the rising moving average around $7.20.
The combination of whale accumulation and elevated Binance reserves suggests the next move may depend on whether inflows turn into actual sell-side activity or whether large holders are positioning for continued DeFi momentum.
