According to Lookonchain, which tracks on-chain activity, whales are Ethereum (ETH) 
$2,611DeFi platform Uniswap’s native token (UNI) and several other decentralized finance (DeFi) tokens. These purchases can lead to significant movements in the markets.
Whales and UNI Coin
Lookonchain stated that an unknown whale wallet withdrew 299,133 UNI from the Gate crypto exchange over the weekend. This transaction amounts to approximately $2.39 million. UNI’s market value is around $4.71 billion and has increased by double digits in the last week.
The same whale also accumulated other DeFi altcoins such as Aave (AAVE) and Maker (MKR). Between August 13 and September 12, it withdrew 19,373 AAVE ($2.95 million) and 596 MKR ($805,000) from the Binance exchange.
Longling Capital and Ethereum Investments
Lookonchain also reported that a whale wallet affiliated with investment firm Longling Capital purchased 5,000 ETH ($12.34 million) over the weekend. It is known that this wallet holds a total of 68,064 ETH, worth more than $168 million.
A third whale purchased 31,173 AAVE ($4.8 million) and deposited these tokens on the Aave platform, borrowing funds to accumulate more tokens. In this process, 2.7 million GHO was borrowed and exchanged for USDC, and USDC was deposited to Coinbase to buy more AAVE.
At the time of writing, Ethereum is trading at $2,634 and ranks second in terms of market cap. Aave is around $162.43 and ranks 44th in terms of market value. AAVE Coin price increased by 6% in the last 24 hours.
Such movements of whales can increase the liquidity of the market and cause fluctuations in prices. For investors, such data can be important in understanding market trends and making decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
