Uniswap’s UNI token rose more than 10%, ranking second among the largest DeFi protocols by market capitalization behind Aave Protocol’s AAVE, while Uniswap recorded a weekly record of 28.9 million swaps, according to Unfolded. Daily UNI trading volume increased more than 20% to around $521 million as institutional and whale positioning, higher burn activity and stronger network use supported the rally. Dune Analytics data showed broader participation across mid-cap, long-tail and stablecoin pairs, with unique active wallets reaching a multi-month high. An anonymous institutional wallet withdrew more than 222,000 UNI worth over $960,000 after eight months of inactivity, raising its holdings to 4.837 million UNI valued at $22 million; the position was up more than 7.32% over 24 hours as of press time. Three whale wallets moved more than 146,000 UNI worth $647,000 from Upbit’s hot wallet to cold storage, while 47,563 UNI worth more than $209,000 moved from Binance to Wintermute’s market-making address. Uniswap’s largest daily burn in dollar terms, about $590,000 on Aug. 21, and a second-highest daily burn of 150,000 UNI further reduced supply. The activity increased potential liquidity-provider fee income but also impermanent-loss and Ethereum gas-cost risks. UNI faced resistance at $4-$4.60, with $3.22 as support, while decentralized exchanges remained under regulatory scrutiny in the United States and Europe.