On-chain data shows the firm behind Ethereum’s (ETH) biggest decentralized exchange Uniswap (UNI) is sending over $40 million worth of assets to several crypto exchanges.
First spotted by blockchain tracking firm Lookonchain, the Uniswap Foundation suddenly moved millions of UNI tokens over the last week to crypto exchanges OKX, Kraken and FalconX.
“Uniswap Foundation has transferred out a total of 9.8 million UNI ($40.66 million) in the past six days.
3.4 million UNI($14.1 million) was deposited to OKX;
3 million UNI ($12.45 million) was deposited to Kraken;
3.4 million UNI ($14.1 million) was transferred to FalconX.”
Since the UNI stacks were sent to crypto exchanges, they could be potentially sold on the open market.
Last week, Lookonchain reported that the Uniswap Foundation relocated millions of UNI tokens to Kraken.
“Note that Uniswap Foundation transferred 6.8 million UNI ($29.16 million) to a new address and FalconX…
Uniswap Foundation dumped 3 million UNI ($13 million) via the Kraken deposit address of Wintermute after UNI rose.”
The Uniswap Foundation’s movement of its UNI troves came as the decentralized exchange governance token rallied from a low of $3.89 last week.
At time of writing, UNI is trading for $4.22.
Lookonchain also has its radar on the decentralized oracle Tellor (TRB). According to the blockchain-monitoring firm, whales accumulated large bags of TRB early this week as its price went vertical.
“Whales accumulate TRB again!
2 whales have withdrawn 27,405 TRB ($3.18 million) from Binance…
And the price of TRB increased 15% today.”
At time of writing, TRB is worth $119.43, up over 18% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Uniswap Foundation Transfers Over $40,000,000 Worth of UNI to Kraken, OKX and FalconX: Lookonchain appeared first on The Daily Hodl.
