Uniswap Foundation has transferred nearly 10 million UNI tokens, worth over $40 million, to various crypto exchanges in the past week. According to blockchain analyst Lookonchain, 3.4 million UNI tokens were sent to OKX, valued at $14.1 million, while 3 million UNI tokens were sent to Kraken’s Wintermute address, equivalent to $13 million. Additionally, 3.4 million UNI tokens, around $14 million, were moved to FalconX, an institutional crypto trading platform. These transactions have raised concerns in the cryptocurrency community, as transfers to exchanges are often seen as potential selling signals that could impact the market. The Uniswap Foundation has not issued any public statements regarding these transfers, but it is suggested that they were conducted for spending and operational purposes. Despite these transactions, the price of UNI remains unaffected, trading at $4.21 as of press time. Uniswap’s updated fee structure, which includes a 0.15% swap fee, has generated over $600,000 in revenue in just two weeks. The majority of these fees come from swaps conducted on the Ethereum blockchain network, supported by layer2 networks such as Optimism, Polygon, and Arbitrum. Uniswap Labs has stated that these fees will be used to support ongoing research, development, and expansion of the platform.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Wintermute, Uniswap Foundation, OKX, Kraken, FalconX |
| Currencies | Polygon, Bridged Wrapped Ether, Uniswap, USDC, Ethereum |
| Securities | None |
