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October 15, 2024

Whales Accumulate Ethereum (ETH), Uniswap (UNI) and Two Additional DeFi Altcoins: Lookonchain

By Daily Hodl Staff

Whales have been gobbling up Ethereum (ETH), the native token for the decentralized exchange (DEX) Uniswap (UNI) and a handful of other decentralized finance (DeFi) tokens, according to the crypto tracker Lookonchain.

Lookonchain notes one unknown whale wallet withdrew 299,133 UNI worth $2.39 million from the crypto exchange Gate.io over the weekend.

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The same whale has also recently been accumulating other DeFi altcoins, withdrawing 19,373 Aave (AAVE) worth $2.95 million and 596 Maker (MKR) worth $805,000 from Binance between August 13th and Sept 12th.

Lookonchain also notes that a whale wallet related to the investment firm Longling Capital bought 5,000 ETH worth $12.34 million over the weekend. The wallet now holds a total of 68,064 ETH worth more than $168 million.

A third whale bought 31,173 AAVE worth $4.8 million on Sunday and subsequently deposited it into Aave to borrow funds and accumulate more tokens.

“Then he borrowed 2.7 million GHO from Aave and swapped it to USDC.

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And deposited the USDC into Coinbase to buy more AAVE.”

Ethereum is trading at $2,634 at time of writing. The second-ranked crypto asset by market cap is up nearly 7% in the past 24 hours.

UNI, the 22nd-ranked crypto asset by market cap, is trading at $8.12 at time of writing and is up nearly 6% in the past day.

AAVE is trading at $162.43 at time of writing. The 44th-ranked crypto asset by market cap is also up nearly 6% in the past 24 hours.

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