Uniswap Whale Deposits 850K UNI Tokens Worth $3.76M Into Binance
Uniswap, the decentralized finance (DeFi) protocol, has been making waves recently with its latest developments. One whale deposited 850,000 UNI tokens, worth $3.76 million, into Binance via Wintermute Trading. According to Lookonchain, the whale received 5.44M $UNI ($24 Million) from the Uniswap Team/Investor/Advisor Allocation Wallet and currently has 1.59M UNI ($7 Million) left.
The move follows a recent announcement from Uniswap Labs that the forthcoming launch of Uniswap v4 is on the horizon, set to follow the Ethereum Cancun upgrade.
Uniswap v4 will incorporate a “flash accounting” system that optimizes asset transfers during swaps, reducing gas consumption. This system operates on net balances, providing additional gas savings compared to previous versions. The upgrade also includes support for native ETH, offering users even more gas efficiency.
Unlike previous versions, Uniswap Labs emphasizes transparency and community governance, allowing the community to govern v4. This approach aligns with Uniswap’s emphasis on decentralization and community involvement.
In another development, the Southern District Court of New York recently dismissed an indictment against Uniswap for its alleged rugpull user, boosting the project’s credibility.