In a surprising move, an early UNI investor has been transferring large sums of $UNI tokens to Coinbase over the past few days.

Just an hour ago, the address sent 1.19 million UNI to the exchange, valued at $8.01 million.

In total, this address has moved 2.49 million UNI, worth approximately $17.01 million, to Coinbase in the last four days.

What’s particularly interesting is that this wallet had been dormant for over four years. It originally received 9 million UNI from the Uniswap project before the token even launched. Now, after years of inactivity, the wallet is once again active, sparking speculation about the reasons behind these large transactions.

UniSwap Maintains Top DEX By Total Value Locked 

Despite this, Uniswap remains the top decentralized exchange (DEX) by Total Value Locked (TVL), with a current TVL of $4.3 billion. TVL is a crucial metric for assessing the adoption of decentralized exchanges. It measures the amount of assets locked in the platform’s smart contracts, reflecting the overall trust and scale of the exchange.

While the movement of early UNI tokens could suggest some early investors are taking profits, Uniswap’s dominance in the DEX space remains strong.

With billions locked in its ecosystem, it continues to lead the decentralized finance (DeFi) landscape.

Whether the recent token movements will have a long-term impact on UNI’s market remains to be seen, but Uniswap’s position as a major player in DeFi seems secure for now.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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