Huge Marine Creature Abandons This Cryptocurrency: Chart Displays Unexpected Plunge
Onchain data has revealed the significant influence of a gigantic sea entity on the price of a lesser-known digital currency today. Lookonchain’s data indicates that, in a mere two-hour span, a crypto behemoth offloaded $7.08 million worth of UniSwap (UNI) tokens, resulting in a roughly 4% decline in UNI’s value. This sudden drop is clearly evident when examining the UNI chart.
Interestingly, this particular cryptocurrency leviathan acquired the UNI tokens at an average price of $10.54, making a total investment of $13.7 million. As of now, the UNI price stands at $10.46.
Despite selling off a substantial amount, the colossal underwater whale still possesses 969,808 UNI tokens valued at $7.46 million. It seems that the whale, accumulating these tokens across three different wallets, has raked in approximately $800,000 in profits from its recent sales.
It is worth noting that Uniswap plans to implement a fee switch mechanism in the near future. This mechanism, which has garnered immense support from the community, will allocate a portion of the platform’s transaction fees to UNI token holders.
*Please be advised that this is not investment advice.