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.

UNI 早期投资者疑似再次抛售价值 801 万美金的 $UNI 🔍

一小时前，该地址将 119 万枚 UNI 充值进 Coinbase，过去四天他已向交易所转移 249 万枚代币，约 1701 万美金；而在此之前，该地址已沉睡超过四年，曾在代币上线前从 Uniswap 项目方处收到 900 万枚 UNI

钱包地址 https://t.co/d09nIsbxRa https://t.co/Q71HG9ivXg pic.twitter.com/r66hxUHt1s

— Ai 姨 (@ai_9684xtpa) September 18, 2024

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.

📢 Top 10 Decentralized Exchanges by Total Value Locked

TVL is an important indicator to evaluate the adoption scale of a DEX by calculating the TVL in the corresponding smart contracts.

G.Crypto: Next Generation of Crypto Media$UNI $CAKE $CRV $BAL $RAY $AERO $SUSHI $RUNE pic.twitter.com/6ddEZaPY07

— Ben GCrypto (@GCryptoBen) September 18, 2024

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.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

The post Early UNI Investor Moves $8.01 Million In Tokens To Coinbase After Years Of Dormancy appeared first on The Merkle News.