- Dormant UNI whales move $61M to Coinbase as token breaks long-term resistance and signals bullish reversal in price momentum.
- UNI surges past $5.80 resistance after months in a downtrend, driven by whale activity and strong technical breakout patterns.
- Hayden Adams backs Solana’s monolithic DeFi vision, challenging Ethereum’s modular path as UNI regains bullish strength.
According to Spot On Chain, Three dormant wallets linked to Uniswap just came alive, moving 10.21 million UNI—worth $60.99 million—to Coinbase Prime. This sudden activity follows over 3.5 years of silence. One whale wallet, which received 9 million UNI from Uniswap in September 2020, is behind the largest deposit. At that time, UNI traded at $3.44, valuing the transfer at around $31 million. Now, with UNI trading near $6, the value has nearly doubled. This move hints at strategic timing, suggesting renewed confidence or potential exit strategies by early holders.
Technical Breakout Signals Momentum Shift
Besides the on-chain movements, UNI’s price action confirms a strong technical breakout. The token recently pierced through a long-term falling wedge. This pattern developed from January to April 2025. It formed as UNI continuously created lower highs and lower lows.
UNI climbed above a crucial resistance at $5.80. It flipped this zone into a potential support level. This bullish signal was backed by rising volume. Moreover, the breakout candle closed well above the descending trendline, marking the first true reversal in months.
Currently, UNI trades around $6.027. If the breakout holds, targets include $6.50 and higher levels. A retest of the $5.80 zone may offer a good re-entry for bullish traders. Additionally, daily charts show volatility, with wicks indicating strong participation on both sides. However, bulls have now regained momentum.
Uniswap’s Future and the DeFi Debate
In a surprising twist, Uniswap founder Hayden Adams weighed in on the future of DeFi. He praised Solana’s unified monolithic structure over Ethereum’s modular approach. According to Adams, Solana’s speed and low costs better suit DeFi’s demands. Consequently, he believes Solana offers a healthier base layer for long-term DeFi scalability.
However, this view contrasts with Ethereum advocates like David Hoffman. Hoffman defends Ethereum’s Layer 1 as DeFi’s secure foundation. He argues that Layer 2s should handle congestion while preserving Ethereum’s core strength.
