UNI Whale Faces $1.93M Floating Loss on $3.31M Long While Uniswap Proposes Protocol Fee Switch to Burn UNI

COINOTAG News, citing HyperInsight, reports a large UNI long opened in the early hours of November 11 remains the largest exposure on Hyperliquid. The position shows a floating loss of about $1.93 million (-580%), a notional size near $3.31 million, and an average entry price of $8.50. The holder is the top UNI bull on Hyperliquid, with total address exposure around $18.33 million. The same address also holds a MON long of roughly $0.445 million, with a floating loss near $0.22 million (-253%).

On November 11, Uniswap Labs and the Uniswap Foundation jointly proposed a governance measure to activate the protocol fee switch, enabling UNI burning with protocol usage. That day, the UNI price briefly surged above $10; as of December 15 it trades near $5.38. Market observers say the fee-switch debate could influence supply dynamics and liquidity incentives, reinforcing the importance of governance signals for Uniswap and UNI holders.