Uniswap Volume Hits Record as Whales Buy, UNI Set to Rebound
Uniswap’s UNI price plunged to a one-month low of $9.37 amid a 23% drop from August highs, reducing its market capitalization to $5.9 billion. Despite the sell-off, whales boosted their holdings from 8.26 million UNI in August to 8.77 million, while smart money wallets now hold 41.6 million tokens and exchange reserves fell to 645 million. Uniswap’s DEX volume hit an all-time high of $143 billion in August, up from $99 billion, pushing total 2025 volume past $724 billion. Protocol fees climbed to $273.7 million this quarter versus $263.8 million last quarter and $115 million in Q3 2024. On Unichain, Uniswap’s layer-2 network, dApps processed $12.54 billion in August, contributing to $53 billion since launch. Technically, UNI price remains above the 100-day EMA and key Murrey Math Lines support, pointing to a potential rebound toward $12.26 (about 30% upside). A drop below the 100-day EMA would invalidate this bullish outlook.
Bullish
Whale accumulation amid record DEX volume and sustained protocol fees signal strong demand for Uniswap’s UNI token. Historically, increases in large-holder stakes often precede price rallies. The technical position above the 100-day EMA and key Murrey Math support reinforces a bullish case, suggesting a likely recovery toward prior highs. In the short term, elevated network usage and fee growth could trigger a rebound. Over the long term, Uniswap’s leading market share in DeFi and robust fundamentals—evident in record volume and Unichain performance—support sustained upward momentum.