Uniswap Token Hits Record Exchange Reserves Amid Mixed Whale Activity

Uniswap (UNI) balances on centralized exchanges have climbed to a record high of 113.9 million tokens, according to CryptoQuant data that tracks exchange reserves since late 2020.

Exchange Accumulation

Binance holds the majority of the reserve, with over 73 million UNI reported on September 23. The exchange recorded inflows of 2.6 million UNI on September 18 and 1.89 million UNI on September 22.

Whale Movements

In contrast, several large wallets are pulling UNI from exchanges. New addresses collectively gathered 782,130 UNI (≈ $7 million) this week, withdrawing from Binance, Gate, Bybit and OKX. One whale purchased 159,698 UNI for $9.39 each using USDC, while another sold 788,000 UNI at $8.85, realizing roughly $2 million.

Price Dynamics

UNI surged 11.9 % on Wednesday after news of CME Group futures, then fell with broader market weakness on Thursday. Over the past month the token remains up more than 113 %.

Protocol Activity

Uniswap continues to dominate tokenized stock trading, handling about 80 % of Robinhood stock token volume, which has exceeded $10 billion. The protocol also processes over $300 million in swaps on Base and Circle’s Arc blockchain, representing the bulk of decentralized exchange activity on those chains.

Burns vs. Inflows

Daily UNI burns remain modest; the second‑largest burn of 184,000 UNI occurred on September 4, with 150,000 originating from the Robinhood Chain. By comparison, Binance alone received roughly 14 times that amount on September 18.

Outlook

The record exchange reserve places a large supply within reach of potential sellers, while ongoing whale withdrawals suggest some participants are positioning for future moves.