The developers of decentralized cryptocurrency exchange (DEX) Uniswap (UNI) appear to have carried out a major dump of their own altcoin, according to onchain data.
After being inactive for the last 3.5 years, a cryptocurrency wallet affiliated with the Uniswap developers has woken up from its long slumber and deposited 10.21 million UNI tokens worth approximately $60.99 million to Coinbase Prime.
This deposit received 9 million UNI from another Uniswap-affiliated crypto wallet in September 2020. At the time, the tokens were worth approximately $31 million and the UNI price was trading at $3.44.
At the time of writing, UNI is trading at $5.81 million, and in the last 24 hours, the token’s price has dropped by approximately 3%.
On the other hand, the UNI price rose to an all-time high of $44.97 in May 2021. If it had sold at that time, the total money this developer wallet whale made from the last sale would have been $459 million. In other words, by not selling at the peak, this whale wallet lost $398 million.
*This is not investment advice.
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