Whale's $12.6M UNI Deposit Triggers 10% Price Drop

An anonymous whale has triggered a 10% price drop in UNI by depositing $12.6 million worth of tokens to major exchanges.

The transfer, facilitated by Cumberland, a market maker and OTC trading desk, occurred over the past 24 hours, with 3.72 million UNI tokens being routed through Cumberland to platforms including Binance, Coinbase, OKX, and Bybit.

This type of large token transfer typically signals intent to sell, and the market responded accordingly.