A wallet tied to BitMEX co-founder Arthur Hayes has grown its Uniswap position to 284,102 UNI tokens worth more than $2 million, built over two days of buying that ended Sept. 7. With no governance vote or upgrade pending, the accumulation at an average cost near $7.06 has traders watching whether the position keeps growing or starts to unwind.
Arthur Hayes' Etherscan-labeled wallet accumulated 284,102 UNI tokens worth $2.01 million over two days through Sept. 7, with no governance proposal or upgrade behind the buying.
On-chain analyst ai_9684xtpa flagged the latest move: the wallet withdrew another 39,000 UNI from crypto platform FalconX in the past hour, worth roughly $282,000. That lifted the address's total UNI balance to 284,101 tokens, valued at about $2.007 million at current prices.
The wallet's average cost basis sits near $7.06, making UNI its third-largest asset. The token traded around $7.02 on Ethereum as of Monday. The buying follows a smaller November 2025 purchase and a quiet OTC deal of 244,406 UNI worth $1.73 million arranged through Flowdesk, according to market reports.
Whether Hayes keeps adding or starts distributing is the question traders who follow his public positions will track next. UNI has roughly doubled to above $6 in recent weeks, and Uniswap's fee mechanism burned a record $1.15 million of tokens as Robinhood Chain pushed daily DEX volume to $3 billion.
Hayes, co-founder of BitMEX, is one of crypto's most-watched figures, and his on-chain moves often draw retail follow-through. The absence of a stated reason sets this accumulation apart — no Uniswap governance vote, upgrade, or fee change is pending that would explain buying at roughly $7 per token.
The address's activity is public, letting investors monitor whether the position grows or unwinds in real time. A continued build would point to conviction in Uniswap's governance token; early distribution would suggest the two-day run was a tactical entry rather than a longer-term bet.
UNI is the native token of Uniswap, the largest decentralized exchange on Ethereum, where users trade tokens directly from wallets without intermediaries. Its fee switch, which routes a share of protocol revenue to token holders, has been a recurring point of debate among governance participants, and the token's technical setup has turned bullish, with an EMA structure and a MACD golden cross supporting the recent climb.
This article is for informational purposes only and does not constitute investment advice.
