Uniswap’s governance token, UNI, saw a 22% price increase over the past 24 hours, driven by significant transfers from early investors.
A key wallet recently deposited UNI worth $20.59 million to Coinbase, suggesting investors may be taking advantage of the price surge to cash in on holdings.
Since September 2024, this same address has deposited a total of 9 million UNI to Coinbase, valued at approximately $70.58 million, with an average cost of $7.84 per token.
过去 3 小时， $UNI 早期投资者再次向 #Coinbase 充值价值 2059 万美金的 UNI；近 24 小时 UNI 币价上涨 22%📈
2024.09 以来该地址已累计向交易所充值 900 万枚 UNI，总价值高达 7058 万美金，平均充值价格 $7.84
钱包地址 https://t.co/d09nIsbxRa https://t.co/tYAK4pg92X pic.twitter.com/ndjk82yHNV
— Ai 姨 (@ai_9684xtpa) November 7, 2024
The recent movement in UNI has ignited discussions in the crypto community, with some questioning the transparency of certain transactions.
According to crypto analyst CSBastiat, venture capital-backed crypto lobbyist Jake Chervinsky has allegedly authorized a sale of $1 million worth of UNI via the Fund Defi multisig wallet, an entity some argue lacks proper oversight. This has raised suspicions about UNI’s role in the broader ecosystem, with critics calling it a “VC slush fund.”
Wondering why $UNI is dumping while other alts are pumping?
Cuz UNI is & always has been a VC slush fund.
For example, VC-backed Democrat crypto lobbyist @jchervinsky just authorized a $1m UNI sale via the illegitimate @fund_defi multisig with proceeds going who-knows-where. pic.twitter.com/zV5KspTJVq
— CS Bastiat ⚖️ (@CSBastiat) November 7, 2024
UNI Token Price Speculations
UNI’s close connections with prominent investors have led some to question whether the token’s rising price and recent transactions serve as a cash-out opportunity for early stakeholders. However, others see the price surge as a sign of renewed market interest in UNI and the potential for Uniswap to reclaim its spot as a leading decentralized exchange.
Whether this price rise is sustainable remains uncertain, but with increased scrutiny on UNI’s governance and investor activity, it’s clear the token will remain a focal point in discussions about transparency and governance within the DeFi space.
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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