Arthur Hayes ended a three-year hiatus from the Uniswap (UNI) with the purchase of 28,670 tokens worth approximately $244k.
The purchase was made immediately following the announcement of Uniswap Labs’ “UNIfication” governance proposal.
Arthur Hayes, Co-founder and former CEO of BitMEX, has added Uniswap (UNI) to his holdings with the purchase of 28,670 UNI tokens on November 11, which are worth approximately $244k.
According to Arkham Intelligence, Hayes currently holds crypto worth $17 million, including Ethereum (ETH), Ethena (ENA), USDC, Lido (LDO) among others.
The purchase comes amid UNI’s 48% price surge. UniSwap recently announced a long-anticipated plan to activate the “fee switch,” a mechanism that could redirect a portion of trading fees toward token holders and protocol growth.
At the time of writing, UNI is trading at $8.64, with a 20% surge in the past 24 hours.
The market cap stands at $5.45B with a 19.78% increase according to CoinMarketCap.
The acquisition marks Hayes’s first purchase of the token after a three-year hiatus, signaling a renewed, bullish interest in the DeFi governance token. Crypto transaction tracker Lookonchain highlighted the move on social media platform X.
Hayes is known for his crypto market commentary. He often makes moves that are closely watched by the market. His recent activity with UNI has fueled speculation regarding the token’s near-term outlook.
There are circulating speculations regarding the purchase on social media. For instance, one user wrote, “Back in after 3 years. What does he see that we don’t?”
A user praised Hayes, “When Arthur moves, it’s never random, he smells momentum before the herd does”, while another user commented the same saying, “Arthur does not return without reason.”
This suggests Hayes may see current market conditions or recent developments within the Uniswap ecosystem as an opportunity.