Centralized exchange reserves of Uniswap (UNI) tokens have reached a record high of 113.9 million units, according to CryptoQuant data. This figure represents the highest level since tracking began in late 2020, with balances steadily increasing since early 2024. Binance holds the majority of these reserves, accounting for over 73 million UNI as of September 23.
Despite high exchange balances, large investors are actively accumulating tokens. Three new addresses recently acquired 782,130 UNI, valued at $6.97 million, while another wallet purchased 269,477 UNI for $2.84 million. Additionally, a whale spent $1.5 million to buy 159,698 UNI at a price of $9.39 per token following a market dip.
Trading activity for tokenized stocks on the Uniswap protocol continues to grow. The platform manages 80% of Robinhood Stock Token volume, which has exceeded $10 billion. Furthermore, Uniswap holds over 99% of decentralized finance deposits for these assets on the Robinhood Chain, where total deposits surged 532.8% over the past 30 days.
Uniswap has also recorded over $300 million in volume for tokenized equities on the Base network and a similar amount on Circle’s Arc blockchain. While the protocol conducts token buybacks and burns, such as the 184,000 UNI burned on September 4, these amounts remain significantly lower than the recent inflows observed on centralized exchanges.
