Large-scale accumulation of Uniswap’s UNI token continues despite the broader decline across cryptocurrency markets. Whale wallet 0x1389 increased its UNI holdings by 1.29 million tokens, with purchases valued at about $9.6 million over three days, according to on-chain monitoring service Lookonchain.
Whale Accumulation Intensifies Amid Market Weakness
The wallet’s activity has drawn attention as UNI’s price trades near $7.40 following a reported breakout above a long-term descending triangle. Rather than reducing exposure in challenging market conditions, this whale continued to buy, including a single transaction for 600,005 UNI worth $4.28 million.
Analysts observed that the purchases coincide with key technical developments. The $7.00 level is considered a support zone, with traders watching if UNI can hold this area and target higher resistance points. While whale accumulation highlights confidence from at least one large holder, it does not confirm broader institutional interest or guarantee UNI’s price will rise.
Activity from this address stands out during a period when other traders have reduced exposure. However, a single wallet’s moves do not ensure price appreciation or indicate overall market sentiment.
Prominent crypto analyst Crypto With Gopal reported that UNI had broken through a descending triangle pattern after months of consolidation. Holding above $7.00 is viewed as critical to validate the breakout. If the momentum holds, price targets of $10 and potentially $14 are being discussed by traders.
A decline below $7.00 could undermine the technical formation and reintroduce the risk of extended consolidation. Trading volume and exchange flows remain important metrics for confirming bullish momentum.
| Indicator | Current Value | Targets / Support |
|---|---|---|
| UNI Price | $7.40 | $7.00 (support) / $10–$14 (targets) |
| Whale Accumulation | 1.29 million UNI | N/A |
Analysts emphasize that bullish charts alone are not sufficient; confirmation through rising demand and active participation is crucial for sustained upward movement in UNI. Only a combination of technical and volume-based evidence will strengthen the case for recovery.
Avalanche Payment Volumes Surge with Axiym
Avalanche, a leading blockchain platform focused on fast and scalable transactions, reported significantly increased stablecoin payment activity. Payment provider Axiym processed a quarterly record of $529 million in Q3, pushing lifetime stablecoin transactions on Avalanche beyond $2 billion. The past year saw Axiym’s volume climb 4.4 times as businesses adopt stablecoin solutions for settlements and remittances.
Network revenue also increased, crossing $97,348 over seven days as measured by blockchain analytics firm Chainspect, surpassing the $95,000 weekly mark for the first time. This weekly revenue, if sustained, would suggest $5 million in annual network earnings. However, shifting market activity may impact future results.
Stablecoin infrastructure via Axiym has helped Avalanche demonstrate the practical use cases of blockchain technology for corporate payments, but the long-term impact on AVAX price relies on broader adoption and sustained network growth.
Mini dictionary: Axiym is a payment processor specializing in stablecoin transactions, enabling businesses to send and receive blockchain-based payments pegged to fiat currencies such as the US dollar.
| Metric | Current Value | Previous Value |
|---|---|---|
| Axiym Q3 Payments | $529 million | 4.4x less (prior year) |
| Total Avalanche Stablecoin Volume | $2 billion | N/A |
| Network Revenue (weekly) | $97,348 | <$95,000 |
| AVAX Price | $10.31 | N/A |
AVAX Faces Technical Test at $11 Resistance
Technical analysis by Crypto With Gopal identified a possible double bottom pattern for AVAX, which is trading near $10.31. The $9.70–$9.90 band provides key support, with a move above $11.00 seen as pivotal for a bullish reversal and a target of $12.50.
A double bottom occurs when an asset finds support at the same level twice, forming a “W” shape, and then rises above its resistance to signal a potential trend reversal. If AVAX does not hold above $9.70, however, the likelihood of a bullish move diminishes.
Analysts stress that price targets are projections based on current trends rather than certainties. Continuation of strong payment flows and elevated network revenue will be factors to watch in the coming weeks. Sustained demand and broader network activity will be needed to support higher price levels.
Key technical levels remain in focus for both UNI and AVAX. For UNI, holding the $7.00 support is vital for a potential move toward $10 and beyond. For AVAX, maintaining support above $9.70 and clearing $11.00 are central to any bullish outlook.
