A massive whale in the world of cryptocurrency made a significant impact on the value of an altcoin with a sudden transaction today. According to onchain data from Lookonchain, this whale sold a staggering $7.08 million worth of UniSwap (UNI) tokens in just two hours, causing a 4% drop in the UNI price. The effects of this sale are evident on the UNI chart, with the price currently trading at $10.46.
Despite offloading a large amount of tokens, the whale still holds 969,808 UNI tokens valued at $7.46 million. With profits from previous sales totaling around $800,000, the whale has accumulated these tokens in three different wallets.
Uniswap is planning to implement a fee switch mechanism that will distribute some transaction fees on the platform to UNI token holders. This move has garnered significant support from the community. Please note that this article does not provide investment advice.
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