A major UNI transaction caught the crypto community's attention. A whale recently deposited 2.25M UNI, equivalent to $13.71M, to the Kraken exchange, likely to cut losses amid declining prices.
Whale's UNI Transaction History
The whale accumulated 2.25 million UNI tokens from September 7, 2023, to November 18, 2024, with an average price of $6.92 per token. At the deposit time, the price of UNI was slightly below average, resulting in a $1.86 million loss compared to the acquisition cost of $15.57 million.
From Profits to Losses
Interestingly, at some point, the whale's holdings had an unrealized profit of $26.5 million. However, the whale missed the opportunity to cash out at the top.
Market Implications
Whale movements often impact market sentiment. A large deposit on an exchange typically signals an intent to sell, potentially leading to increased short-term price volatility. Traders and investors will be closely monitoring UNI's price action in the coming hours to see if the whale's move triggers further selling pressure or if buyers will step in to absorb the supply.
The news about the major UNI transaction highlights the high level of volatility and risks in the cryptocurrency market. It is crucial for traders and investors to stay informed on large market moves and their potential impacts.
