The sudden surge of UNI: the battle between whale accumulation and short covering

【CryptoWorld】The recent trend of UNI has attracted a lot of attention. On December 18th, influenced by a major exchange’s dual-token product adding UNI, this token surged by 10% in a short period, with the price reaching $5.28.

On-chain data is even more interesting. An address starting with 0x413c quietly moved on Hyperliquid — this whale established a 10x leveraged long position in UNI at midnight yesterday, with an average price of $4.99 and a scale of approximately $1.18 million. So far, this address has continued to add to the position, with unrealized gains exceeding 50%.

The movements of the opposing side are also worth noting. The well-known industry “Shanzhai Short Army Leader,” who previously held a large short position in UNI, significantly closed over 30% of their position at 1 PM yesterday. Although some positions were closed, the remaining short position of $3.38 million still yields substantial profits — current unrealized gains have reached $1.39 million, with a return of 410%.

The actions of both bulls and bears are shifting, which may reflect the market’s reassessment of UNI’s short-term trend.