UNI Whale Sells 600k Tokens, Raises Fears of Selling Pressure

A large holder of UNI has made significant sales in its portfolio, according to on-chain data from Onchain Lens' September 18th report. The address sold 600,000 UNI through multiple transactions, resulting in approximately $5.1 million worth of USDT obtained as cash.

This sale drew attention to the potential selling pressure it may create on the token's price. However, the available data does not provide definitive information about the address's total UNI balance or future transactions.

The address also transferred 100,000 UNI to the cryptocurrency exchange OKX, worth approximately $844,000. This transfer was interpreted as an indication that the address may be preparing to sell a further portion of its UNI holdings.