Two Uniswap whales are moving in opposite directions, on-chain data shows, as one wallet steadily builds its UNI holdings while another unwinds a large position. According to blockchain analytics platform Lookonchain, wallet 0xC374 purchased an additional 308,517 UNI worth $2.13 million, lifting its total accumulation to 1.32 million UNI — approximately $11.05 million — over the past 45 days. Separately, a second whale has reportedly sold $7.32 million worth of the token across just two days. Lookonchain flagged both flows in updates posted on November 7.

The competing transactions came as UNI changes hands near the $7.00 level. According to CoinGecko's latest price data, the token was trading around $7.03 at the time of the reports.

UNI is the governance token of Uniswap, one of the largest decentralized trading protocols, giving holders a voice in protocol decisions. Because every transaction is recorded on a public blockchain, flows from large wallets are closely watched by on-chain analytics services for signals on how sizable positions are being built or unwound.

Accumulating Wallet Extends 45-Day Buying Run

Lookonchain reported that wallet 0xC374 executed its latest purchase roughly 10 hours before publishing its update. The transaction adds another chapter to an accumulation strategy the wallet has sustained for 45 days, bringing total purchases to 1.32 million UNI valued at approximately $11.05 million.

Whale 0xC374 bought another 308,517 $UNI ($2.13M) 10 hours ago. Over the past 45 days, the whale has bought a total of 1.32M $UNI ($11.05M). pic.twitter.com/hHenX9Uqvu
— Lookonchain (@lookonchain) November 7, 2026

If the investor continues holding, the sustained buying could reduce the amount of UNI available for immediate trading. Market observers have taken note of the pattern. Hupzy described the ongoing purchases as a potential supply-lock signal, while emphasizing that continued holding remains essential for that signal to materialize.

Second Whale Sells $7.32 Million of Timelock-Received Tokens

Another large holder has been moving in the opposite direction. The whale reportedly sold $7.32 million in UNI over two days, according to on-chain reporting, after receiving 20.32 million tokens from Uniswap's Timelock wallet more than a year ago. The Timelock contract holds protocol-controlled funds and executes actions approved through Uniswap's governance process, making tokens that leave it a regular focus of on-chain trackers.

Despite those sales, the address still holds approximately 19.3 million UNI. The size of the remaining position means further distributions by the wallet could introduce additional selling pressure, particularly if the holder continues trimming at the recent pace.

Taken together, the transactions reveal differing strategies among large UNI holders: one investor continues to build exposure through market purchases, while the other gradually reduces a position originally received from the protocol's Timelock contract.

UNI Holds Near $7.03 as Traders Track $6.85 Support

UNI's recent price action shows modest positive performance despite the contrasting whale flows. The token gained 1.42% over 24 hours and 1.19% over seven days, according to CoinGecko, with 24-hour trading volume reaching approximately $303.59 million. The figures point to steady conditions even as the divergent whale flows drew attention from traders.

Traders are also watching the token's short-term technical structure. Analyst Crypto With Gopal identified a potential head-and-shoulders formation on the one-hour chart, noting that sellers have been building a bearish structure following the recent rally. The analyst highlighted the $6.85–$6.90 range as the neckline support zone, warning that a breakdown below $6.85 could expose UNI to further declines toward $6.50.

$UNI | Uniswap Printing a potential Head & Shoulders formation on the 1H chart! Sellers are forming a bearish structure after the recent rally, with the $6.85–$6.90 neckline acting as crucial support. UNI is trading near $7.00. A breakdown below $6.85 could trigger further… pic.twitter.com/WVkztZKXN0
— Crypto With Gopal (@cryptowithgopal) November 7, 2026

The bearish structure introduces an element of uncertainty even as whale accumulation continues. If selling pressure increases, traders could interpret a neckline breakdown as confirmation of weakening momentum.

Analysts have also cautioned that continued weakness could push UNI toward $5.80, though that remains a deeper downside scenario rather than a confirmed price target.

The competing whale transactions therefore present two distinct signals for UNI holders in the current market. Sustained accumulation could tighten the supply available to the market, while continued distributions could limit recovery attempts. Further flows from either wallet, as flagged by on-chain trackers, would provide the next data points on which side of that split is growing.

For now, the $6.85–$6.90 zone represents the immediate technical area to watch. Whether UNI holds that support may determine whether buyers regain control or sellers extend the decline.