Arthur Hayes Purchases 28,670 UNI Tokens
Arthur Hayes, co-founder and former CEO of BitMEX, bought 28,670 Uniswap (UNI) tokens on November 11. The tokens are worth about $244,000. This marks his first UNI purchase in three years.
The purchase followed Uniswap Labs’ announcement of the “UNIfication” governance proposal. Hayes now holds crypto assets valued at $17 million, including Ethereum (ETH), Ethena (ENA), USDC, and Lido (LDO), according to Arkham Intelligence.
UNI Price Surge Linked to Fee Switch Activation
Uniswap’s fee switch proposal sparked a 48% price increase for UNI. The fee switch will channel a portion of trading fees to token holders and support protocol growth.
At the time of writing, UNI trades at $8.64, up 20% in the last 24 hours. Its market cap is $5.45 billion, rising nearly 20% per CoinMarketCap.
Market Reaction and Social Media Response
Hayes’s UNI purchase attracted attention on social media. Crypto transaction tracker Lookonchain shared the news on X (formerly Twitter).
Many users speculated about Hayes’s motivations. One user asked, “Back in after 3 years. What does he see that we don’t?” Another commented, “When Arthur moves, it’s never random, he smells momentum before the herd does.”
These comments suggest Hayes sees potential in Uniswap’s current developments or the broader market conditions.
