Why UNI’s latest rally is more than just ETH whales showing increased interest

• UNI was among the cryptos that the top 100 ETH whales were holding
• Funding rate and MVRV Ratio increased, with growth in the NFT space

Uniswap [UNI] outperformed several other cryptos with a larger market capitalization by registering double digit gains in a single day.

CoinMarketCap’s data revealed that UNI’s price increased by over 11% and 23% in the last 24 hours and week, respectively. At the time of writing, UNI was valued at $6.78 with a market cap of more than $5.1 billion. 

Realistic or not, here’s UNI’s market cap in BTC’s terms

The recent uptrend might have played a key role in garnering whale interest. WhaleStats, a popular Twitter handle that posts updates related to whale activity, revealed that UNI was among the cryptos that the top 100 Ethereum whales were holding. 

🐳 The top 100 #ETH whales are hodling

$143,904,510 $BEST
$82,328,580 $LOCUS
$69,548,634 $SHIB
$54,079,306 $BIT
$45,040,571 #UnknownToken
$38,364,578 $MATIC
$35,607,938 $UNI
$29,912,204 $MOC

Whale leaderboard 👇https://t.co/N5qqsCAH8j pic.twitter.com/0EYhh5oRAs

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