US investment fund USV has attracted attention with the large amount of altcoins it has transferred to Coinbase Prime since December 6.
Union Square Ventures (USV), a US-based investment fund operating in the cryptocurrency sector, transferred 578,000 UNI (approximately $8.45 million) to Coinbase Prime as of today. The transfer in question attracted attention as part of the serial transfers that the fund has carried out since December 6.
USV has provided liquidity by transferring a total of 3.511 million UNI (approximately $54.56 million) to Coinbase Prime since Dec. 6. These UNI holdings reportedly stem from investments USV made in 2020.
In addition, USV reportedly still has 10.364 million UNI (approximately $150 million) in its crypto wallet. These high-volume transfers by USV are being closely monitored in terms of market movements and investment strategies.
Given UNI’s importance in the decentralized finance (DeFi) ecosystem, such transactions continue to attract the attention of crypto investors. These developments point to continued interest in the Uniswap protocol and strategic moves by major investors.
Although there is no official statement, the transfers were evaluated as having the purpose of long-term investment or strategic liquidity management. Considering the dynamics in cryptocurrency markets, such large transactions may affect market volatility.
Stay tuned.
