The Arthur Hayes UNI position topped $2 million on Monday. A wallet that Etherscan labels as his now holds 284,102 tokens after two days of buying.

Onchain Lens put the split at roughly 244,400 UNI on Sunday and 39,700 on Monday. No governance vote, no protocol upgrade, and no obvious market trigger accompanied either order.

Arthur Hayes UNI Buying Ran Across 2 Days

A tracker flagged the second tranche early Monday. It named an address that Etherscan labels “Arthur Hayes 4.”

Etherscan values that stake just above $2 million. The same address also carries roughly 8,013 Ethereum.

Hayes keeps large orders away from open markets. The same wallet has pulled Ethereum and stablecoins from Galaxy Digital, Cumberland and FalconX. That habit predates this trade.

In August he paid up to rebuild an Ether.fi position he had exited earlier in the year.

Hayes made the case himself on X. “Time to run it back turbo,” he posted, recalling the profits he made during the 2020 decentralized finance (DeFi) boom.

He also called UNI his favourite type of sushi. Uni is the Japanese name for sea urchin, a premium sushi topping.

He bought more the next day.

Uniswap Still Trades Far Below Its Record

UNI traded near $7.18 on Monday, up 2.55% over 24 hours. Its market value sits near $4.47 billion, which ranks the token 22nd.

The token has gained 76.8% in a month. However, it remains 84% below the record of $44.92 it set in May 2021.

Robinhood Chain drove most of that climb. One August fee breakdown put the Arbitrum Orbit network, launched in July, at 66% of everything Uniswap earned across 47 chains.

That gain came against a softer crypto market, which slipped 0.73% early Monday while US exchanges stayed shut for Labor Day.

Other large holders show mixed intent. Nansen-labelled whales lifted UNI holdings from 3.20 million to 3.46 million on September 2. However, the same wallets turned net sellers of $130,256 on decentralized exchanges, which reads as partial profit taking.

Uniswap captures more of that flow than any rival. Whether Hayes timed this entry well will depend on how September closes.

Source: BeInCrypto