According to on-chain data monitoring, a blockchain address transferred 3.65 million UNI tokens, worth approximately $13.43 million, to Coinbase Prime following recent price fluctuations. This significant movement has drawn renewed market attention.
Prior to the transfer, UNI experienced a 31% surge to $4.30 from $3.28, fueled by rumors that BlackRock planned to acquire a substantial amount of the token. However, the rally proved short-lived, and the price has since retraced, returning to pre-rally levels.
It remains unclear whether this large transfer is connected to institutional activity, but such on-chain movements are often viewed as potential indicators of broader market trends.