An unexpected transfer took place in Uniswap (UNI), one of the largest decentralized exchanges (DEX) in the cryptocurrency market.
A wallet that acts as a liquidity provider on Uniswap recently transferred millions of dollars worth of UNI to the exchange.
Reported by on-chain analysis platform Lookonchain to data according to February 23 The liquidity provider in question, which took action on the day, joined the cryptocurrency exchange Binance. $8.7 million worth 1.2 million UNI transferred.
Liquidity providers allow a cryptocurrency to be traded on a decentralized exchange. to be processed in a healthy and safe manner They are known as important actors who help. The strong liquidity on the pools somewhat protects the cryptocurrency in question from price fluctuations and whale manipulations.
carried out by the liquidity provider in the news sales potential While this transfer caused concerns among the community, the UNI price was also negatively affected.
According to CoinGecko data, in the last 24 hours 5.3% decrease living UNI, at the time of writing from $7 is being traded.