Uniswap Whale Sells $33M in Tokens, Price Sees 8% Drop

A significant transaction involving Uniswap (UNI) has taken place, with a 'big whale' investor transferring approximately $33.46 million in tokens to Coinbase Prime's hot wallet.

The transfer occurred at around 10:20 AM and consisted of 9.295 million UNI tokens.

This investor had previously profited from periods of price increases in UNI, particularly after the fee switch mechanism was implemented in the Uniswap ecosystem last November.

The sudden sale has contributed to an approximately 8% drop in UNI's price today, although there is no definitive information indicating that the transfer was made for direct sales purposes.