Uniswap’s UNI balances on centralized exchanges reached a record 113.9 million tokens, according to CryptoQuant data covering the period since late 2020. Binance accounted for much of the increase, holding more than 73 million UNI on September 23 after receiving 2.60 million tokens on September 18 and 1.89 million on September 22. The exchange balance had previously been reported above 71.5 million, while UNI closed at $10.209 on September 22 after rising 108% from its quarterly baseline. UNI gained 11.9% on Wednesday following plans for CME Group futures before falling with the broader market Thursday, but remained up more than 113% over the past month. Large-wallet activity was mixed: three newly created addresses accumulated 782,130 UNI worth $6.97 million, while another wallet sold 788,000 UNI for an estimated $2.04 million profit. Protocol activity also expanded, with Uniswap handling 80% of Robinhood Stock Token volume, more than 99% of related DeFi deposits on Robinhood Chain, over $300 million in tokenized-equity volume on Base and more than $300 million in swaps on Circle’s Arc blockchain. Fee-switch-funded burns remain small relative to exchange inflows, including 184,000 UNI burned on September 4 versus roughly 14 times that amount deposited at Binance on September 18.