Uniswap Developer’s Large Wallet Moves, Selling $60M Worth of UNI

A substantial portion of the Uniswap (UNI) developers’ holdings have been moved, as a wallet associated with the exchange recently deposited 10.21 million UNI tokens worth around $60.99 million to Coinbase Prime. This move follows a prolonged period of inactivity for the wallet, which had remained dormant for 3.5 years before its recent activity. The timing coincides with a notable dip in the price of UNI, now trading at around $5.81 million after a 3% drop over the past 24 hours. This significant transaction raises questions about the developers’ intentions and how they have handled their holdings over time.