Uniswap Wallet Transfers $20.2M In UNI To Coinbase Prime Amid Market Decline

A significant transfer was observed today from a Uniswap-related wallet, which moved 2.359 million UNI tokens, worth approximately $20.2 million, to Coinbase Prime.

This transaction has garnered attention, particularly given the current market conditions.

Out of the transferred amount, 2.338 million UNI, valued at about $19.9 million, has been absorbed by 12 different wallets.

This suggests a likely distribution or an over-the-counter (OTC) deal, implying that this movement should not directly impact the UNI spot price. Such transactions are often conducted away from the public market to prevent price fluctuations.

Following this transfer, there are still 6.64 million UNI tokens, roughly $55.2 million, remaining in the team, investor, and advisor wallet. This substantial reserve indicates that the project’s stakeholders still hold a significant amount of the token, potentially influencing future market dynamics.

5 hours ago, a @Uniswap-related wallet transferred 2.359M $UNI (~$20.2M) to #Coinbase Prime.

Notably:
• 2.338M $UNI (~$19.9M) has been absorbed by 12 wallets (pic