Lookonchain
Trader web3vc withdrew 1.79 million UNI, valued at $13.18 million, from Venus Protocol and deposited the holdings into Binance about an hour ago. The trader began buying UNI a year ago at an average price of roughly $9 and recently moved into profit.
Why it matters
The transfer shifts a large UNI position from a DeFi protocol to a centralized exchange, where it is more readily positioned for a sale. The trader did not sell when the position first became profitable and now appears to be reconsidering the trade.
Market impact
A sale at the stated value would leave web3vc with a loss of nearly $3 million, despite the position having recently turned profitable. The Binance deposit is not confirmation of a sale, but the potential liquidation of 1.79 million UNI creates a concentrated source of selling pressure for the token.
Frequently asked questions
-
How much UNI did web3vc transfer to Binance?
web3vc transferred 1.79 million UNI, valued at $13.18 million, from Venus Protocol to Binance.
-
What was web3vc's average purchase price for UNI?
The trader began buying UNI a year ago at an average price of roughly $9.
-
Did web3vc sell the UNI after depositing it?
The deposit does not confirm that a sale occurred. It places the UNI on Binance, where it could be positioned for sale.
-
Why could the transfer pressure UNI's market?
A potential sale of 1.79 million UNI would create a concentrated source of selling pressure for the token.
-
How much could web3vc lose if the UNI is sold?
The seed says a sale at the stated value would leave web3vc with a loss of nearly $3 million, despite the position recently turning profitable.
WatcherGuru
CoinDesk
WuBlockchain
Whale Alert