Uniswap's UNI has fallen more than 93% from its 2021 peak of $43 to about $3.3 and dropped 18% over the past week, marking the steepest decline among the 100 largest cryptocurrencies by market capitalization, yet whale buying on Binance has intensified to its strongest level in five years, according to CryptoQuant analyst Darkfost. The analyst said the 10 largest UNI outflow transactions on Binance are averaging 7,300 UNI leaving the exchange each day on a monthly basis, a five-year high, while the same group is still seeing average daily outflows of 5,600 UNI. The pattern suggests large holders are withdrawing tokens from Binance and building positions rather than selling, even as the broader altcoin market remains weak. Standard Chartered last week told clients that Uniswap burns had roughly doubled, with Geoffrey Kendrick, the bank’s global head of digital assets research, estimating the pace at about $90 million a year and saying his 2030 UNI target of $100 may be too low. At the same time, UNI held across exchanges tracked by CryptoQuant rose from about 103 million on August 11 to 110.3 million, showing that whale activity on Binance and broader market positioning are moving in different directions.