Ethereum Whale Spends $13.7M on 2.25M UNI, Deposits to Kraken

In Brief

A long-time Ethereum whale purchased 2.25 million UNI for $13.7 million.

All UNI tokens were moved to Kraken, suggesting a short-term trade.

‍

A well-known Ethereum whale with a history dating back to 2016 has just made a major move in the market. On-chain data from analyst ai_9684xtpa shows that the whale spent $13.7 million USDC to purchase 2.25 million Uniswap (UNI) tokens at an average price of $6.09. This buying spree took place over the past three hours, catching the attention of traders.

‍

This particular whale has a history of profitable moves. On February 28, it sold 14,000 ETH, making a massive $29.07 million in profit. The latest acquisition of UNI, followed by an immediate deposit to the Kraken exchange, suggests that the whale could be preparing for a short-term trade rather than a long-term hold.

Given the whale's past trading activity and influence, market watchers are keeping a close eye on UNI's price movements. The token could see increased volatility depending on how this major player decides to proceed.

‍

‍