Uniswap Early Investor Deposits $8.01 Million Worth of UNI to Coinbase
CryptoNewsTerminal Staff17 Sep, 2024
Uniswap Early Investor Deposits $8.01 Million Worth of UNI to Coinbase
On-chain analyst @ai_9684xtpa reported via Twitter that an early Uniswap investor transferred 8.01 million UNI worth roughly $8.01 million to Coinbase. The funds were transferred in a single transaction, suggesting a large movement of tokens. The investor received their UNI tokens during Uniswap's initial airdrop in September 2020, which distributed 400 UNI tokens to each user of the Uniswap protocol. The transfer could indicate that the investor is taking profits or moving their UNI tokens to a more secure location. However, the exact reason for the transfer is unknown. The price of UNI has been relatively stable in recent weeks, trading between $1 and $1.10. The token is currently ranked 11th by market capitalization, with a market cap of over $8.8 billion.
