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**Are the big organizations profiting?**
As the price of UNI skyrockets, the renowned investment firm Union Square Ventures (USV), an early investor in Uniswap, has transferred a large amount of 473,000 UNI tokens (worth $7.68 million) to Coinbase Prime. This move comes after a similar sell-off by Variant Fund, raising suspicions and speculation about the rebalancing strategies of institutions.
Although large-scale transactions like this can often exert downward pressure, Uniswap appears to have been unaffected by the selling pressure, reinforcing the narrative of strong natural growth and demand. Despite recent sell-offs, USV still holds up to 12.78 million UNI, valued at approximately $204 million, indicating continued confidence in the platform's long-term prospects.
**The Road Ahead**
Uniswap's journey from a low of $6.6 in November to the current price represents a significant increase of 173%. The breakout from the long-term “cup and handle” pattern further confirms this upward trajectory. Although there may be a brief consolidation phase, the path to $30 remains open, promising exciting times for UNI holders. The coming days will be crucial in determining whether Uniswap can maintain this momentum and achieve its ambitious price target or not.
<p>The article “Uniswap Price Soars to $30 Despite Institutional Sell-Off” first appeared on CoinBuzzFeed.</p>
