Enquires@newsofbitcoin.com
A wallet that received 5.44 million uniswap (UNI) tokens in 2020 sold 90,000 of them for $1.03 million during Friday’s 60% surge to $12.80.
Related Posts
Blockchain analytics firm Lookonchain said the wallet may be an early Uniswap investor or a member of the team.
Uniswap is a decentralized exchange (DEX) that launched in 2018. It distributed UNI, a governance token, in the form of an airdrop to early adopters in 2020.
The token jumped Friday following the submission of a governance proposal that suggested rewarding holders who have staked or delegated their UNI tokens.
The wallet in question still holds 926,000 UNI tokens, worth $10.6 million, after selling almost 9% of the stash on Friday. The sale marked the top of UNI’s surge. The price subsequently slid back. It rose 0.8% on Monday to $10.40, down 19% from Friday’s high, while the broad CD20 gauge barely moved.
Uniswap’s governance proposal prompted Frax Finance, a separate decentralized finance protocol, to submit a similar proposal on Monday. The frax shares token (FXS) initially rose by 16% on the news.
Read More: Early Uniswap Whale Sold $1M Worth of UNI as Price Surged
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
