According to cryptocurrency tracker Lookonchain, whales have been gobbling up Ethereum (ETH), the native token of decentralized exchange (DEX) Uniswap (UNI), and a handful of other decentralized finance (DeFi) tokens.
Lookonchain pointed out that an unknown whale wallet withdrew 299,133 UNI worth $2.39 million from cryptocurrency exchange Gate.io over the weekend.
The same whale also recently accumulated other DeFi altcoins, withdrawing 19,373 Aave (AAVE) worth $2.95 million and 596 Maker (MKR) worth $805,000 from Binance between August 13 and September 12.
Lookonchain also noted that a whale wallet associated with investment firm Longling Capital purchased 5,000 ETH worth $12.34 million over the weekend. The wallet currently holds a total of 68,064 ETH, worth over $168 million.
The third whale bought 31,173 AAVE worth $4.8 million on Sunday and then deposited it into Aave to borrow funds and accumulate more tokens.
“He then borrowed 2.7 million GHO from Aave and exchanged it for USDC.
Then I deposited USDC into Coinbase to buy more AAVE.”
At the time of writing, Ethereum is trading at $2,634. The second-largest cryptocurrency asset by market capitalization is up nearly 7% in the last 24 hours.
UNI, the 22nd largest cryptocurrency asset by market capitalization, is trading at $8.12 at the time of this writing and is up nearly 6% over the past day.
AAVE is trading at $162.43 at the time of this writing. The 44th-largest cryptocurrency asset by market capitalization also rose nearly 6% in the past 24 hours.
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