Key Takeaways:
An address received 5 million UNI tokens on Ethereum, valued at approximately $15.8 million, from the Uniswap (UNI) Timelock contract, marking the second major vested token distribution to the entity in three months.
On-chain data confirms the transfer to the address, which now holds a total of 10 million UNI. The entire balance has been deposited into a Coinbase Custody account, according to blockchain explorers.
This transfer is part of a predefined vesting schedule for Uniswap's early investors or team members. The previous transfer of 5 million UNI to the same address occurred approximately three months prior. Moving such a large quantity to a custody service often precedes over-the-counter (OTC) sales or exchange liquidation.
The accumulation of 10 million UNI, now worth over $30 million, in a custody account known for facilitating large-volume sales, introduces a significant potential overhang for the UNI market. If liquidated, this volume would represent a notable increase in circulating supply and could put downward pressure on the token's price in the near term.
This article is for informational purposes only and does not constitute investment advice.
