BitMEX co-founder Arthur Hayes made his first DeFi move in three years by purchasing 28,670 Uniswap (UNI) tokens worth about $244,000. His purchase coincided with a 21% surge in UNI to $10 amid discussions of a tokenomics update and the activation of the Unification program.
Hayes returns to DeFi
Hayes’ purchase was spotted by Lookonchain analysts, who recorded a transfer of $244,000. His return sparked excitement among market participants, further increasing the already growing interest in Uniswap.
According to analysts, Hayes’ investment is not random — he often enters projects at the early phase of new narratives and bets on assets he believes are undervalued or poised for structural changes.
This time, his attention was drawn to the Unification initiative, which involves activating protocol fees, token burning, and redistributing incentives within the ecosystem. These steps could radically change Uniswap’s economic model and strengthen UNI’s position as one of the key governance tokens in DeFi.
What will the Unification program change
According to the Uniswap team, the update will introduce an auction mechanism with discounts on protocol fees, as well as a UNI burning mechanism that will reduce the total supply by about 100 million tokens.
CryptoQuant analyst Ki Young Ju noted that the new model could create a “supply shortage scenario” if trading volumes remain at current levels.
“If the fee is activated, Uniswap could take off. Just versions v2 and v3 have provided over $1 trillion in trading volume this year. At these levels, annual burning could reach $500 million, which with the current $830 million in circulation would create a shortage and push the price up,” Ju said.
According to him, trader activity in Uniswap V2 and V3 shows that the possibilities for token burning are real, and activating the new model could lead to parabolic growth of UNI.
Community reaction: “This is a statement about the future of DeFi”
X users actively responded to Hayes’ move. One of them, DeFiUncle, called the deal “a statement about the future of governance in DeFi.” In his opinion, Hayes has always bet on infrastructure and governance tokens, and buying UNI is a long-term investment, not speculation.
Other commentators expressed skepticism, suggesting that if trading volume grows strongly, the burning effect could be temporary. One participant joked:
“Burning $500 million a year with $830 million on exchanges is like throwing away half the chips before the party: the price rises until people realize there are no more chips left.”
Some users were interested in transaction details, including the type of smart contract and wallet settings, pointing to the importance of transparency and security in such operations.
Read also: Arthur Hayes urged Zcash holders to withdraw coins from exchanges and ‘protect’ assets
Why Hayes chose Uniswap
The market perceives Hayes’ actions as an indicator of trust in the decentralized exchange sector and governance tokens. He has repeatedly emphasized that DeFi is the next stage in the evolution of finance, and infrastructure tokens like UNI play a key role in this process.
His purchase coincided with growing institutional interest in a new wave of DeFi protocols seeking to combine tokenomics with yield mechanisms and sustainable governance models.
“Arthur Hayes always enters the market before a new phase of the cycle begins,” noted one DeFi analyst. — “If he’s betting on UNI, it means he sees fundamental changes, not just short-term speculation.”
UNI strengthens its position
At the time of publication, the UNI token was trading at around $10, up 21% in recent days. Uniswap’s market capitalization exceeds $7.5 billion, and trading volume is over $1 trillion since the start of the year.
If the Unification program is fully implemented, analysts predict UNI could rise to $15–18 in the coming months. However, some experts warn that the model’s success depends on how well Uniswap can maintain trading volume and reduce pressure from competing DEX platforms.
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