Over the last 24 hours, UNI, the native token of the Uniswap DEX, suffered a significant decline ami
Over the last 24 hours, UNI, the native token of the Uniswap DEX, suffered a significant decline amid the Bitcoin-led crypto market rally. During yesterdays brief surge, UNI reached a daily high of $11.26. However, UNI dropped to $10.63 earlier today, losing approximately 6% of its value.
Lookonchain, the crypto analytics firm, suggests that large-scale whale activity may have influenced Uniswap‘s price crash. Lookonchain revealed that a major UNI investor sold 606,088 tokens, realizing a profit of $7.08 million. According to the firm, this substantial sale triggered UNI’s price drop earlier today.
In the past 2 hours, this whale sold 606,088 $UNI($7.08M), causing the price of $UNI to fall by 4%.
He has withdrawn 1.3M $UNI($13.7M) from #Binance at $10.54, and currently has 696,808 $UNI($7.46M) left in 3 wallets, with a total profit of ~$800K.
Additionally, the analytics service reported that the whale had previously withdrawn 1.3 million UNI, valued at $13.7 million, from the Binance exchange. Currently, the whale holds 696,808 UNI, worth $7.46 million, across three wallets. Lookonchain estimated that this investor netted a profit of approximately $800,000 from their recent UNI sale.
Prior to the recent UNI token sale, the market tracker noted that this whale had purchased a total of $28.75 million worth of Ethereum ecosystem tokens from Binance in late May. These purchases included 858,069 UNI worth $8.7 million, 4.04 million LDO worth $9.3 million, 71,190 AAVE worth $7.4 million, 82,041 ENS tokens worth $2 million, and 250,969 FXS worth $1.25 million.
While UNIs price hovers around $10.77 at press time with limited signs of recovery, the asset has retained over 38% of its gains accrued in the last 30 days. Meanwhile, another bearish factor for UNI is the upcoming unlock of 8.33 million tokens, valued at over $90 million, from the Uniswap treasury for advisors, teams, and investors.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
0.00