Uniswap Price Rises 5% Amid Galaxy Digital’s $5 Mln UNI Move: Details

Key Insights:

• Galaxy Digital transferred $5 million worth of Uniswap (UNI) tokens between Binance and CoinShares, raising investors’ interest.
• Uniswap could lose $100M this year despite activating the fee switch governance feature.
• UNI price has already increased by more than 9% in January 2026, aligning with a positive trend.

UNI, the native digital asset of the Uniswap ecosystem, rose 5% over the past 24 hours. This surge came shortly after Galaxy Digital moved $5 million worth of UNI tokens across the Binance exchange and CoinShares.

Galaxy Moves $5M Uniswap (UNI) Across Binance and CoinShares

Market analyst OnchainDataNerd spotlighted the transaction from Arkham Intelligence in an X post. The data from Arkham revealed Galaxy Digital withdrew 292,000 UNI, valued at about $1.83 million, from Binance.

A few minutes later, the wallet associated with Galaxy Digital transferred 492,500 UNI to a wallet labeled as belonging to CoinShares. The 492,500 UNI tokens were worth about $3 million.

Combined, the net movement of UNI tokens between Binance and CoinShares was valued at approximately $5 million. This appears like an off-exchange institutional transfer, unlike past movements where Galaxy Digital deposited a large amount of UNI to exchanges.

Such transfers from firms like Galaxy Digital to CoinShares are common in the crypto exchange-traded product (ETP) ecosystem. They often represent rebalancing, seeding new ETP shares, or fulfilling inflows.

Generally, this is interpreted as a bullish institutional activity, as it reflects demand for regulated exposure to UNI.

Unsurprisingly, the transaction quickly impacted the price of UNI positively. Over the past 24 hours, Uniswap price jumped by 5.02% to $6.13. The daily trading volume also increased by 57.4% to $571.4 million, signalling investors’ renewed interest.

Investor Issues Bearish Revenue Forecast for Uniswap Price

Amid the strong retail adoption and surging prices, investor Omar on X shared a bearish take on Uniswap’s valuation. According to Omar, Uniswap price was trading at approximately 240x run-rate fees, post fee switch. He argues that UNI is extremely expensive relative to other revenue-generating crypto protocols.

To provide context, the Uniswap “fee switch” is a recently activated governance feature. It redirects a portion of Uniswap’s revenue to benefit UNI token holders, primarily through a buyback and burn mechanism.

This increases the value of UNI, moving away from its previous model, where all fees went to liquidity providers.

Also note that the fee switch is part of the “UNIfication” proposal, which involves burning 100 million UNI tokens. In general, it aims to better align incentives between users, Liquidity Providers, and governance.

Following the fee switch, Uniswap has captured only $23 million in annualized protocol fees. Its Fully Diluted Valuation (FDV) has remained around $5.4 billion. Considering the 20 million UNI grant for the year, Omar argues Uniswap could lose $100 million.

This prediction implies that the protocol is burning more value than it captures in fees, even with the fee switch on.

Will UNI Price Continue the Positive January Trend?

So far this month, the UNI price has increased by 9.7%, according to data from CryptoRank. Over the past five years, UNI has demonstrated mixed price performance in January.

On average, the UNI token recorded gains of 37%, per the data from CryptoRank. In January 2021, UNI saw gains reaching 243.4%. The following year, the token experienced losses of 30.9%, but jumped 27.3% in January 2023.

However, by January 2024 and 2025, UNI slumped 16.8% and 11%, respectively. Now, considering the already 9.7% rally in January 2026, UNI looks ready for more price jumps this month.

Besides, Uniswap price has often traded in the green during the first quarter (Q1) of the past few years. If this trend holds this year, analysts believe UNI could reach as high as $10 soon. This feat does not appear impossible for UNI, especially as it has hit a cycle high of $19.38.