During this ongoing crypto winter, most of the cryptos have been struggling to increase their values, and Uniswap [UNI] was also among them. However, despite its underwhelming performance, UNI received notable interest from the whales. 

WhaleStats, a popular Twitter handle that posts updates related to whale activity revealed that UNI was one of the cryptos that the top 500 Ethereum whales were holding.

At press time, UNI’s price was down by more than 10% in the last seven days and was trading at $5.30 with a market capitalization of over $4 billion.

Interestingly, Uniswap was also on the list of the top DeFi projects in terms of fees and revenue generated on the Polygon network in the last 24 hours.

A look at UNI’s on-chain metrics provided some information as to why it managed to remain popular among the whales. For instance, UNI’s MVRV ratio registered a slight uptick, which is a positive signal for a network.

(by Suzuki Shillsalot)