Early Uniswap investor moves $12.9M in UNI to Wintermute as price slides to $9
- —UNI dropped 9.13% to $9.10, hitting a daily low of $9.02
- —An early investor transferred 1.37 million UNI worth $12.93 million to Wintermute
- —$2.89 million in longs were liquidated as spot volume rose 45%
- —Futures netflow fell 264% to -$63.8 million; exchange inflow hit 1.6 million UNI
Why it matters: A large transfer to a market maker during a downtrend raises sell-off risk, threatening the $9 support and opening the door to $8.4.
Source: AMBCrypto