- UNI crashed by 6% from the intraday high of $11.26 to a low of $10.63 today.
- The decline emerged after a whale dumped UNI worth $7.08 million.
- Another bearish factor for UNI is the upcoming unlock of over $90 million for advisors, teams, and investors
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 yesterday’s 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to fall by 4%.The post Uniswap Whale Makes Waves, Dumping $7 Million Worth of UNI appeared first on Coin Edition.He has withdrawn 1.3M $UNI($13.7M) from #Binance at $10.54, and currently has 696,808 $UNI($7.46M) left in 3 wallets, with a total profit of ~$800K.
Address:… pic.twitter.com/dPx6XGiIrP
— Lookonchain (@lookonchain…