Wintermute Trading is ramping up its UNI stack, accumulating substantial tokens from various centralized exchanges such as Binance, Kraken, and OKX, among others.
The latest development comes just a day after Uniswap Labs released the draft code for its fourth iteration – V4.
Wintermute Capitalizing on Uniswap V4 Hype
Data from Lookonchain suggests that Wintermute Trading has accumulated 878,336 UNI tokens after Uniswap’s V4 announcement.
The latest stash of UNI tokens is worth nearly $3.7 million at press time price. The crypto-native algorithmic trading firm currently holds 886,269 UNI in total, equivalent to almost $4 million.
The move by Wintermute depicts a bullish picture ahead of the much-anticipated launch of Uniswap V4, which is expected to allow users to be able to customize the liquidity pools to selectively utilize the protocol’s technical capabilities.
This will essentially help in retaining the fees associated with simpler transactions low. New features such as on-chain limit orders, automated compounding of liquidity provider (LP) rewards, and dynamic fees will also be introduced in the V4 iteration.
Uniswap’s upgrade also features the inclusion of “hooks,” which are customizable smart contract “plugins,” enabling users to decide how swaps, pools, fees, and LP positions execute and interact on the exchange.
Unveiling the source code is the first step to launching a new version of the leading decentralized exchange. This has, however, not stopped market participants from capitalizing on the hype, with Wintermute being one of the many.
DEX Trading Volume Soar
Decentralized exchanges, as a whole, have witnessed significant user influx amidst SEC’s increased scrutiny toward prominent centralized counterparts – BINANCE and Coinbase. In fact, DEX trading volume rose from $1.21 billion to a near $4 billion from June 4th to 10th, according to data from DeFiLlama.
A recent report by digital assets data provider CCData also revealed that the market share of these platforms surged for the fourth consecutive month in May, reaching an all-time high of nearly 13%. During the same period, on-chain trading activity drove new to local highs, a trend primarily fueled by the resurgence in memecoin trading, facilitated only by the decentralized platforms.
