Uniswap (UNI) price dropped to a weekly low of $5.50 on Wednesday, bringing its August 2023 losses toward the 17% mark. As Uniswap flashes green signals, will it be sufficient to trigger an early price rebound? 

As Uniswap (UNI) price declines to new lows this week, on-chain data reveals bullish whales have been buying the dip. Will that buy pressure shore investor confidence across the Uniswap ecosystem? 

Uniswap Whale Investors Are Buying the Dip

Uniswap has delivered underwhelming returns in the first half of August 2023. But with losses now approaching the 17% mark, whale investors are now looking to cover their positions.  

According to data from Santiment, Whale Transactions involving UNI have increased ten-fold this week. 

The chart below shows that Uniswap only recorded 3 Whale Transactions on August 12. Remarkably, it hit 38 and 34 Whale Transactions on August 14 and 15, respectively. This represents a more than 1,000% increase in Whale Transactions this week alone. 

Whale Transaction Count sums up the daily number of confirmed UNI transactions exceeding $100,000. This noticeable spike in Whale Transaction count means institutional investors are now making big bets on Uniswap again. 

Large transactions provide much-needed market liquidity enabling investors to execute high-volume trades at favorable prices. More importantly, the whale presence also boosts the confidence of retail investors. 

Consequently, each of these factors c

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Author: Ibrahim Ajibade

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