Significant price increase and consolidation: Uniswap (UNI) surged 160% since November, recently testing support above $16. This consolidation phase attracts new buyers while indicating potential further price gains, driven by strong market sentiment.
Institutional interest and whale activity: The daily trading volume for UNI averages 657 million USD, highlighting increased institutional interest. Notable whale movements, including deposits of 1.49 million UNI worth over 24 million USD, suggest heightened activity and interest in the token.