A significant movement in the $UNI market was observed three hours ago when a whale deposited 561,782 $UNI, valued at $4.38 million, into Binance.
Following this transaction, the whale still holds 2 million $UNI, worth approximately $15.48 million.
This whale has been accumulating $UNI over the past year, marking this as their first significant sale of the token. Notably, the majority of their $UNI was withdrawn from Binance, with a total of 1.31 million $UNI, valued at $8.16 million, withdrawn at an average price of $6.22.
A whale deposited 561,782 $UNI($4.38M) into #Binance 3 hours ago, leaving 2M $UNI($15.48M).
This whale has been accumulating $UNI over the past year, and this is his first sale of $UNI.
Most of his $UNI was withdrawn from #Binance, with a total of 1.31M $UNI($8.16M) withdrawn… pic.twitter.com/pxlY1CPNAb
— Lookonchain (@lookonchain) July 6, 2024
However, an updated report indicates that the whale has since withdrawn the deposited $UNI back from Binance. This back-and-forth movement has sparked interest and speculation within the crypto community, as large-scale transactions by whales often precede market shifts or strategic financial maneuvers.
$UNI Price Action As Whale’s Accumulation Continues
Currently, $UNI is up by 4% over the past 24 hours, reflecting a positive market response amidst these significant whale activities. The whale’s decision to withdraw $UNI back from Binance shortly after depositing could signal various strategies, such as market manipulation, price stabilization efforts, or preparation for another trading move.
The whale’s year-long accumulation of $UNI and the recent transactions highlight the importance of monitoring large holders’ activities, as they can significantly impact market dynamics and investor sentiment. This particular whale’s movements are especially notable given the substantial amounts involved and the timing within a relatively short window.
For investors and market watchers, this activity underscores the need to stay vigilant and informed about large transactions, as they can provide insights into potential market trends and strategies.
As $UNI continues to show a positive uptick, it will be interesting to see how these whale movements influence the broader market and what strategies might unfold in the coming days.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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