Huge Transaction in 6 Billion Dollar Altcoin: What's the Price?

A huge transaction was made with UNI, the token of the Ethereum-based cryptocurrency trading platform Uniswap.

According to information provided by Blockchain analysis platform Spot On Chain, a Uniswap address deposited 2.35 million UNI (approximately 20.2 million dollars) to the Coinbase Prime platform.

Associated with Uniswap team

Spot On Chain explained that this Uniswap address may be connected to the project team, investors or advisors.

9 million UNI tokens were sent to this address from Uniswap's distribution address in September 2020. After today's transaction, the wallet still has 6.64 million UNI ($53.8 million).

According to blockchain records, after this address sent UNI to Coinbase Prime, 2.33 million of it was received by 12 wallets. Spot On Chain commented, “This is likely to be a distribution or OTC transaction, so it should not affect the spot UNI price.”

Uniswap continues to grow

The number of addresses on the decentralized cryptocurrency exchange Uniswap increased from 3.03 million to more than 7.26 million within a year.

Uniswap is the largest decentralized exchange with a TVL worth $5.27 billion, according to DefiLlama data. It is followed by Curve DEX with $1.88 billion and PancakeSwap with $1.73 billion.

According to CoinGecko data, the price of UNI, which has a market value of $ 6 billion, dropped by 5.7% in the last 24 hours and fell to $ 8.07.

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