Whale Movement: Massive $UNI Withdrawal Signals Confidence In DeFi Tokens
A major crypto whale or institution recently transferred 4 million USDC to Kraken, followed by a withdrawal of 437,000 UNI tokens (equivalent to $4 million) just 16 hours ago.
This entity, an early adopter of $ETH, $AAVE, and $UNI, now holds an impressive $182 million worth of these tokens, with substantial unrealized profits.
Since 2023, the whale has been strategically accumulating $AAVE and $UNI through platforms like Wintermute and Kraken. Heres a breakdown of their acquisitions and profits:
1. $AAVE Accumulation
Hoarded 142,000 AAVE tokens at an average price of $82.05.
Current floating profit stands at $12.28 million, reflecting a 105% gain.
2. $UNI Accumulation
Acquired 2.248 million UNI tokens at an average price of $6.91.
The current floating profit is $5.03 million, representing a 32% gain.
/ 400 USDC Kraken 16 Kraken 43.7 UNI ($4M)
/ 2023 Wintermute Kraken $AAVE $UNI
14.2 AAVE $82.05 $1228 (+105%)
224.8 UNI pic.twitter.com/k0oD4f7mgg(@EmberCN) November 19, 2024
The whales recent $UNI withdrawal suggests a strong belief in the tokens potential. UNI, the governance token of the decentralized exchange Uniswap, remains a cornerstone of the DeFi ecosystem, and such moves often signal confidence in long-term value.
This accumulation strategy highlights the whales calculated approach to DeFi tokens, leveraging market dips to build substantial holdings while securing significant profits.
For retail investors, the activity of such whales can be both a signal and a warning. On one hand, it reflects optimism in the DeFi space; on the other, it underscores the influence large players wield over market dynamics. As this whale continues to position itself heavily in $AAVE and $UNI, its movements will likely remain a focal point for market watchers.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Text source: NullTX
