Developers’ Wallet Awoke After Years of Silence: Massive UNI Transfer to Coinbase Sparks Concern

Recent cryptocurrency onchain activity suggests a large-scale sale from developer wallets connected to the Uniswap project. This includes a significant transfer of 9 million UNI tokens, worth over $47.5 million, from a wallet dormant for 4.5 years, and an increase in transfers by four other related wallets, transferring a total of $108.5 million worth of UNI to Coinbase Exchange. These movements coincided with increased activity among crypto whales regarding this altcoin. The cryptocurrency has seen a notable drop in value over the past month (losing roughly 11%), further emphasizing the large-scale transactions.