Whales have been gobbling up Ethereum (ETH), the native token of decentralized exchange (DEX) Uniswap (UNI), and a handful of other decentralized finance (DeFi) tokens, according to crypto tracker Lookonchain.
Lookonchain notes that an unknown whale wallet withdrew 299,133 UNI worth $2.39 million from crypto exchange Gate.io over the weekend.
The same whale has also recently accumulated other DeFi altcoins, withdrawing 19,373 Aave (AAVE) worth $2.95 million and 596 Maker (MKR) worth $805,000 from Binance between 13 August and September 12.
Lookonchain also notes that a whale wallet linked to investment firm Longling Capital purchased 5,000 ETH worth $12.34 million over the weekend. The wallet now contains a total of 68,064 ETH worth over $168 million.
A third whale purchased 31,173 AAVE worth $4.8 million on Sunday and then deposited them into Aave to borrow funds and accumulate more tokens.
“Then he borrowed 2.7 million GHO from Aave and exchanged it for USDC.
And I deposited the USDC into Coinbase to buy more AAVE.
Ethereum is trading at $2,634 at the time of writing. The second-largest crypto asset by market capitalization is up almost 7% in the past 24 hours.
UNI, the 22nd largest crypto asset by market capitalization, is trading at $8.12 at the time of writing and is up almost 6% over the past day.
AAVE is trading at $162.43 at the time of writing. The crypto asset ranked 44th by market capitalization also increased by almost 6% in the last 24 hours.
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