Data from the chain shows that the company behind Ethereum’s (ETH) largest decentralized exchange Uniswap (UNI) is sending over $40 million worth of assets to various crypto exchanges.
First noticed by blockchain tracking company Lookonchain, the Uniswap Foundation was suddenly noticed moved millions of UNI tokens to crypto exchanges OKX, Kraken and FalconX over the past week.
“Uniswap Foundation has transferred a total of 9.8 million UNI ($40.66 million) over the past six days.
3.4 million UNI ($14.1 million) was deposited on OKX;
3 million UNI ($12.45 million) was deposited into Kraken;
3.4 million UNI ($14.1 million) was transferred to FalconX.”
Since the UNI stacks were sent to crypto exchanges, they could potentially be sold on the open market.
Last week, Lookonchain reported that the Uniswap Foundation has moved 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 Wintermute’s Kraken deposit address after UNI rose.”
The move of the UNI treasures by the Uniswap Foundation came as the decentralized exchange governance token recovered from a low of $3.89 last week.
At the time of writing, UNI is trading at $4.22.
Lookonchain also has its radar on the decentralized oracle Tellor (TRB). According to the blockchain monitoring company Whales accumulated big bags of TRB early this week when the price went vertical.
“Whales are accumulating TRB again!
Two Whales Withdrew 27,405 TRB ($3.18 Million) from Binance…
And the price of TRB is up 15% today.”
At the time of writing, TRB is worth $119.43, up over 18% in the last 24 hours.
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Generated image: DALLE3