Uniswap Whale Moves $13.18M in UNI as Potential Losses Reach $3M
The transfer comes as UNI attempts to recover from a recent decline. Although the token has recorded consecutive daily gains, falling trading volume and bearish technical indicators suggest that buying demand has yet to establish a convincing market recovery.
UNI Whale Transfer Raises Questions About Selling Pressure
Lookonchain reported that the trader withdrew 1.79 million UNI, valued at $13.18 million, from Venus Protocol and deposited the assets on Binance. Given the trader's average purchase price of $9, the position was below its acquisition cost following UNI's latest price movement.
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| Source: Arkham |
If the trader sold the entire position at the reported market price, the resulting loss would be approximately $3 million. However, the transfer to Binance does not confirm that a sale took place or establish the trader's intentions.
Large-holder deposits to centralized exchanges can attract market attention because tokens transferred to trading platforms may become available for sale. If substantial selling follows, additional supply could weigh on prices. The actual effect depends on whether the holder sells and how much demand is available to absorb the tokens.
Exchange Outflows Suggest UNI Accumulation
Despite the potential selling risk, exchange-flow indicators point to continued withdrawals of UNI from trading platforms. According to CryptoQuant's Exchange Netflow data, the metric remained negative for three consecutive days and continued to decline while UNI traded below $8.
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| Source: Cryptoquant |
Over the preceding 24 hours, UNI's Exchange Netflow reached -624K. Negative netflow indicates that more tokens moved out of exchanges than entered them during the measured period, a pattern that can be consistent with accumulation. However, exchange outflows alone do not establish investors' motives or guarantee that prices will rise.
Spot Taker Cumulative Volume Delta (CVD) provided another indication of buying activity. The metric remained positive over the previous week, suggesting that buyers maintained an advantage in spot-market trading.
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| Source: Cryptoquant |
Sustained buying can help absorb available selling supply and limit downward pressure. Nevertheless, the combination of negative exchange netflow and positive Spot Taker CVD has not yet produced a confirmed reversal in UNI's broader price trend.
Uniswap Price Faces Resistance Below $8
UNI recently rebounded from $7.00 to a local high of $7.54 before easing slightly. At the time of the report, the token was trading around $7.52, up 1.26%. Trading volume, however, had declined by 47%, indicating reduced market activity as traders awaited a clearer direction across the broader cryptocurrency market.
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| Source: Tradingview |
Technical indicators continued to reflect a cautious outlook. Uniswap's Relative Strength Index (RSI) stood at 46, placing it in bearish territory according to the report. The token was also trading below its 20-day exponential moving average (EMA) while testing its 50-day EMA.
Remaining below the 20-day EMA could indicate continued short-term pressure, while the 50-day EMA was identified as a potential support level. A sustained move below that support could weaken the recovery attempt, although the report did not confirm a breakdown.
UNI Price Outlook: $7.10 to $8.20 in Focus
The report identified a potential trading range between $7.10 and $7.50 if current conditions persist. This scenario reflects the combination of limited buying strength, subdued trading volume and continued bearish technical signals.
A stronger increase in demand could allow UNI to reclaim the $8 level and potentially advance toward $8.20. Until that happens, the token remains exposed to further declines or an extended period of consolidation.
The large holder's transfer adds uncertainty to the outlook, but it does not independently confirm an impending sell-off. Exchange-flow data suggests ongoing withdrawals, while technical indicators show that buying activity has not yet been sufficient to establish a clear bullish reversal.
Data source: ambcrypto
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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