Uniswap's UNI token was the strongest performer in the CoinDesk 20 index on 8 November, rising 13.5% as the index traded 6.0% higher than its level at 4 p.m. ET on Thursday, according to the CoinDesk 20 performance update.

UNI was trading near $7 on Sunday, with the token's total value locked above $5.71 billion, as large holders continued to add to their positions. The move came while the wider crypto market stayed quiet over the weekend, with Bitcoin holding near $75,900 and Ethereum near $2,238.

On-chain data cited by analytics platform Lookonchain showed a single whale wallet, identified as 0xC374, buying a further 308,517 UNI worth about $2.13 million. The same wallet has now accumulated about 1.32 million UNI over 45 days, worth roughly $11.05 million in total, according to the report carried by PMN Sports.

Market watchers also pointed to Uniswap's fee-switch and token-burn narrative as a factor behind the repricing, alongside rising volumes on Unichain and Robinhood Chain, as reported by CoinMarketCap. Analyst GrowMore Capital identified $7.80 as the next key resistance level, with a break above it seen as opening a path towards $12.50 — a forecast, not a verified outcome.

UNI remains far below its all-time high of $44.92, and the token has traded in a narrow range for much of the past month. The weekend move shows large holders are active, but it does not by itself signal a sustained trend.