PANews reported on December 10th that, according to on-chain analyst Yu Jin, a month ago, after Uniswap's founder released a "fee and burn proposal" that caused UNI to surge by 46%, he transferred 2.818 million UNI (US$27.08 million) to an institutional address on a CEX at a price of US$9.6. Today, four hours ago, he withdrew 823,000 UNI (US$4.73 million) from Binance and Bybit. Is this a case of buying low and selling high?: The price when they last transferred into the CEX was $9.6, and the gains driven by the "fee and burn proposal" have long since fallen back. The price when they withdrew today was $5.7.PANews reported on December 10th that, according to on-chain analyst Yu Jin, a month ago, after Uniswap's founder released a "fee and burn proposal" that caused UNI to surge by 46%, he transferred 2.818 million UNI (US$27.08 million) to an institutional address on a CEX at a price of US$9.6. Today, four hours ago, he withdrew 823,000 UNI (US$4.73 million) from Binance and Bybit. Is this a case of buying low and selling high?: The price when they last transferred into the CEX was $9.6, and the gains driven by the "fee and burn proposal" have long since fallen back. The price when they withdrew today was $5.7.
An institutional address withdrew $4.73 million worth of UNI tokens from a CEX today.
PANews reported on December 10th that, according to on-chain analyst Yu Jin, a month ago, after Uniswap's founder released a "fee and burn proposal" that caused UNI to surge by 46%, he transferred 2.818 million UNI (US$27.08 million) to an institutional address on a CEX at a price of US$9.6. Today, four hours ago, he withdrew 823,000 UNI (US$4.73 million) from Binance and Bybit.
Is this a case of buying low and selling high?: The price when they last transferred into the CEX was $9.6, and the gains driven by the "fee and burn proposal" have long since fallen back. The price when they withdrew today was $5.7.
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