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A cryptocurrency wallet believed to belong to BitMEX founder Arthur Hayes continues to increase its holdings of $UNI. According to data from on-chain analyst ai_9684xtpa, the wallet withdrew another 39,000 $UNI from the FalconX cryptocurrency platform in the last hour.
The latest transfer is reported to be worth approximately $282,000, bringing the total amount of $UNI in the wallet to 284,101 tokens. Based on current prices, the total value of these assets is estimated to be approximately $2.007 million.
The data shows that the average cost of $UNI purchases in the wallet is around $7.06. This makes $UNI the third largest asset held by that address on its chain.
Hayes’s increase in his $UNI position is noteworthy in terms of tracking institutional and large investor interest in the native token of the Uniswap ecosystem. In particular, the public nature of on-chain transactions allows investors to monitor position changes in large wallets in real time.
The recent $UNI transfer from FalconX reveals that the wallet associated with Hayes is continuing its token accumulation. However, wallet activity alone does not definitively indicate that Hayes has adopted a long-term investment strategy regarding $UNI.
Holding $UNI at an average cost of $7.06 means that changes in the token price directly affect the value of that position. With the wallet’s total $UNI balance reaching 284,101 tokens, investors are expected to closely monitor activity and new transfers to the address.
On-chain data are among the important indicators for market participants, especially those who want to monitor the buying and selling behavior of wallets holding large amounts of tokens.
*This is not investment advice.
Source: cryptonews.net