490,000 UNI Moves to Binance Amid 6.5% Price Drop: Latest Insights from Uniswap Timelock

According to recent data from Rekto, a significant movement of UNI tokens has been observed as 490,000 UNI were transferred to Binance within a five-hour window. This transaction is part of the larger 27.9 million UNI that was released from the Uniswap timelock contract last week, specifically on March 21. Notably, 1.24 million UNI, valued at approximately $8.22 million, was deposited into Binance in just over a day. Following this influx, the price of UNI has experienced a decline of approximately 6.5%. Such dynamics underscore the volatility within the cryptocurrency market, as large-scale movements of tokens can significantly impact price action, prompting traders to monitor these developments closely for potential trading opportunities.