$100 Price Target Sends Uniswap Whale Activity Skyrocketing

Standard Chartered's $100 price target for Uniswap (UNI) has sparked renewed interest in the token, driving on-chain activity to multi-month highs. Whale transactions reached a seven-month peak, and new wallet creation saw its largest single-day spike since late December.

The surge in activity is attributed to the bank's forecast, not any internal protocol change or upgrade. Active addresses on the Uniswap network climbed to a four-month high, with Santiment reporting the jump shortly after the forecast was published.

According to crypto analyst Zayn, UNI has erased a full month of bearish price action in just a few days and is trading near the same price zone that preceded its major 2020 bull run. Large investors moving in before broader market momentum is a pattern traders watch closely.