The altcoin market is seeing a trend where early whales are starting to trim their positions.
One notable UNI whale, who accumulated 546,000 UNI over the past three years, has recently transferred $3.91 million worth of tokens to Binance.
The transfer occurred just an hour ago, with the average cost of the position sitting at $7.54. If these tokens are sold at current prices, the whale stands to realize a significant profit of $2.35 million.
看来山寨行情下，不少早期建仓的巨鲸正在减仓啊👻
过去三年内阶梯建仓 54.6 万枚 $UNI 的巨鲸一小时前向 #Binance 充值了价值 391 万美金的 UNI，其成本为 $7.54，若卖出将获利 235 万美金
需要注意的是：这是该地址三年持仓 UNI 以来的首次卖出 / 充值行为，目前他仍持有价值 650 万美金的 UNI💡 pic.twitter.com/Hn6vR4Fitd
— Ai 姨 (@ai_9684xtpa) December 8, 2024
Interestingly, this marks the first time the address has engaged in any selling or transferring activity during its three-year holding period. Despite the recent move, the whale still holds UNI tokens valued at approximately $6.5 million, signaling a substantial remaining stake.
UNI Price Action To Monitor
Meanwhile, UNI’s price is on a meteoric rise, soaring to $18.75 and nearing the $20 mark for the first time since December 2021. This price level represents a 36-month high for Uniswap’s native token, driven by growing enthusiasm around decentralized finance (DeFi).
Breaking News: $UNI Soars Towards $20 for the 1st Time Since Dec 2021! 🚀
Currently, $UNI is changing hands at $18.75. It marks the highest price point for #Uniswap's native token in past 36 months.
Uniswap, a leading decentralized exchange (DEX) on #Ethereum, lets you trade… pic.twitter.com/iDJ9aDRW2F
— Ajax (@AjaxBTC) December 8, 2024
Uniswap, a pioneering decentralized exchange (DEX) on the Ethereum blockchain, has cemented its position as a leader in peer-to-peer ERC-20 token trading. The platform offers users the ability to act as liquidity providers, earning fees in return, which has contributed to its widespread adoption in the DeFi ecosystem.
As UNI approaches the $20 milestone, all eyes are on whether whales like this one will continue to reduce their positions, potentially influencing the market in the days ahead.
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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