Uniswap rose 11.35% in 24 hours to about $6.20 after breaking above $6 and reaching an eight-month high of $6.37. The rally brought UNI close to recovering all of its 2026 losses and was supported by whale buying and institutional activity. Professor Onchain said heavy institutional inventory positioning helped drive the move, while the on-chain monitor reported that Wintermute moved 2.03 million UNI worth $11.07 million into its primary market maker wallet and routed another $4.64 million of UNI into Binance deposit lines. Top tracked wallets transferred roughly $45 million in UNI into active market circulation. Nazoku also reported that a whale bought 540,000 UNI worth $2.8 million shortly before the token crossed $6; the wallet had purchased 394,000 UNI worth $1.71 days earlier and holds nearly $37 million in digital assets. Positive Spot Netflow, a measure of tokens moving onto exchanges, persisted for two days and reached $11.2 million on September 1 before easing to $8.6 million, its highest comparable level since December 2025. Those inflows could add selling liquidity. The Ghost Machine indicator remained positive and rose for 12 consecutive days, while the Relative Vigor Index (momentum indicator comparing closing prices with trading ranges) formed a bullish crossover and climbed to $0.3. If demand holds, the report says UNI could move through $6.5 and above $7; sustained selling pressure could instead push it below $6 toward $5.4.