Uniswap Whale Dumps $5.1 Million in Tokens Amidst SEC-Backed Rally

A large Uniswap holder sold 600,000 UNI tokens for about $5.1 million in USDT on September 18 as the token rallied nearly 28% after the SEC issued a conditional framework allowing tokenized NMS stocks to trade through permissioned AMM liquidity pools.

The sale drew attention to potential supply pressure at a moment when derivatives activity was expanding rapidly, with UNI open interest near $621 million and derivatives volume up 64.27% to $1.23 billion.

Market analyst Crypto Patel noted on X that UNI had gained 285% from his previously identified accumulation zone and pointed to $9.50 as the next critical level, suggesting a break above it could open a path toward $14, $26, and potentially $50.