Watch Out: A “Big Whale” Made a Sudden Sale of Exactly $33 Million in an Altcoin—Price Is Falling
According to on-chain data, a Uniswap investor transferred a total of 9.295 million $UNI to Coinbase Prime’s hot wallet around 10:20 AM.
The total value of the tokens at the time of the transfer was approximately $33.46 million.
The investor in question had previously profited from periods of price increases in $UNI. It is stated that the investor sold during the $UNI price surge that occurred after the fee switch mechanism was implemented in the Uniswap ecosystem last November.
The approximately 8% drop in $UNI’s price today is attributed to a recent transfer transaction. However, there is no definitive information indicating that the transfer was made for direct sales purposes.
A graph showing the drop in $UNI price.
On the other hand, Machi Big Brother, a well-known whale in the crypto market, drew attention with his highly leveraged Ethereum transactions.
According to the data, Machi was liquidated twice in his $ETH long positions opened overnight, losing a total of approximately $2.5 million.
However, the investor re-entered the market after the liquidations. Machi reportedly opened a new $ETH long position worth approximately $4.6 million.
The remaining margin for the position is estimated to be around $180,000, which translates to approximately 25x effective leverage.
*This is not investment advice.