Arthur Hayes Buys $244K UNI Amid Uniswap Fee-Switch Plan
Former BitMEX co-founder Arthur Hayes purchased 28,670 UNI tokens worth $244,000 on November 11, marking his return to Uniswap after a three-year hiatus. His investment coincides with Uniswap Labs’ UNIfication governance proposal, which aims to activate a fee-switch mechanism to redistribute trading fees to UNI holders. The proposal passed initial voting stages with strong community support. On-chain data from Arkham Intelligence shows UNI has surged 48% in recent weeks, trading at $8.64 with a $5.45 billion market cap. Hayes’s move underscores growing confidence in DeFi governance tokens and may signal further bullish momentum for UNI.
Bullish
Arthur Hayes’s sizeable UNI purchase amid the fee-switch proposal is a bullish signal. High-profile investments often lead to increased market interest and upward price pressure in DeFi tokens. Historical parallels include COMP’s surge after governance incentive announcements and AAVE’s rally following fee distribution plans. In the short term, expect continued volatility and accumulation as traders react to governance updates. Over the long term, successful fee-switch implementation could create a new revenue stream for UNI holders, reinforcing bullish sentiment for Uniswap’s governance token.