Whales have recently been making significant moves in decentralized finance (DeFi), accumulating millions in tokens such as Uniswap (UNI), Maker (MKR), and Bounce (AUCTION) from Binance. Over the past three weeks, these large investors have achieved an unrealized profit of $32.9 million, marking an 87% increase on their investments.
**Whale Activity Heats Up**
Analysis shared on March 17 by the smart money tracker Spot on Chain highlights aggressive token accumulation on Binance. A whale wallet identified as “0xace” acquired 374,333 UNI for $2.3 million and 1,735 MKR for $2.06 million within 18 hours. In the past three days, another major trader, “0xEc1,” withdrew half a million AUCTION tokens valued at just under $14 million. This is part of a broader trend where four interconnected whale wallets now control more than 26% of AUCTION’s total supply. At present, the token is trading at $35.49, with a 14.7% increase in the last 24 hours and a 100% rise over the past week, significantly outperforming the broader crypto market. This surge has substantially increased the value of the whales’ holdings, generating an unrealized profit of $32.9 million, according to Spot on Chain.
**DEX Volume Surge**
The increase in DeFi token accumulation coincides with a growing interest in decentralized exchanges (DEXs). BNB Chain, for example, saw its DEX volume rise to $1.64 billion in the last 24 hours, surpassing Ethereum and Solana. Solana recorded volumes of $1.077 billion, while Ethereum had $1.012 billion. Other networks in the top five included Base, with $385.24 million in 24-hour DEX volume, and Arbitrum, which saw nearly $341 million in that period. BNB’s surge was led by its flagship DEX, PancakeSwap, which recorded $1.558 billion to become the decentralized exchange with the highest trading volume in the past day. Last month, the network announced plans for upgrades, including gasless payments, faster transactions, and artificial intelligence integration. This increase in activity is partly driven by meme coins like the recently launched Mubarak (MUBARAK), whose value has soared over 294% since yesterday. During the same period, its trading volume increased by 245% to $147.4 million, with PancakeSwap accounting for 10.44% of that amount.
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