Uniswap’s UNI token rises 15% after Unichain Layer-2 launch, even as market sells off
UNI defies the marketwide sell-off by posting a 10%+ gain after the launch of Unichain.
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Uniswap Foundation Diversifies Assets with Noteworthy UNI Transfers
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First Impressions
“The Uniswap Foundation's move shows savvy asset management and faith in established crypto exchanges.”
Uniswap Foundation is stirring the pot in the cryptocurrency world.
In the span of less than a week, they've moved $9.8 million in UNI tokens, roughly equating to $40.66 million.
It's a calculated step to spread their digital eggs across different baskets, or in this case, cryptocurrency exchanges.
Image: cryptopolitan
Why Is the Uniswap Foundation Making These Token Transfers?
In Uniswap's case, this is done by redistributing a large chunk of their UNI tokens among reputable cryptocurrency exchanges.
"To cryptocurrency exchange OKX, Uniswap has allocated 3.4 million tokens with an estimated market value of $14.1 million,"
says the source.
Another recipient of this shuffle is Kraken.
Here, Uniswap deposited 3 million UNI tokens, amounting to approximately $12.45 million.
Image: OKX
OKX, Kraken and FalconX
If you're thinking it's just these two big names, think again.
FalconX also got a piece of the pie, receiving an identical amount to OKX, that is 3.4 million tokens with an estimated market value of $14.1 million.
Image: Kraken
Uniswap Foundation Token Transfers Serves a Dual Purpose
First, they spread the risk, much like diversifying your stock portfolio.
Second, they ensure Uniswap has ample liquidity across these platforms, which in layman's terms, means they have enough digital cash on hand to operate smoothly.
Uniswap Foundation's action of distributing tokens is a vote of confidence in these exchanges.
"We trust you enough to hold a significant part of our digital wealth."
This also demonstrates Uniswap's commitment to cultivating a solid and active cryptocurrency environment.
Image: FalconX
Uniswap Foundation is Playing It Smart
By distributing assets across OKX, Kraken, and FalconX, the Foundation fortifies its position in the ever-volatile crypto landscape.
While the financial figures may seem mind-boggling, the logic behind them is sound and prudent.
Disclaimer
Coinlive is dedicated to delivering impartial, clear-cut journalism. While this article strives for timely accuracy, we recommend that readers independently fact-check and seek professional advice before taking any action based on this material.
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