A suspected whale or institutional address has been continuously withdrawing UNI from Coinbase ; in the last 6 hours, it withdrew an additional 2.179 million UNI (approximately $12.68 million), bringing its total holdings to 3.629 million UNI.
The withdrawal activity occurred before the Unification proposal was submitted, according to monitoring data. This address may also be related to Coinbase's internal wallet pooling activity.
- 2.179 million UNI were withdrawn from Coinbase in 6 hours, worth approximately $12.68 million.
- Total holdings reached 3.629 million UNI; Medium withdrawal price was $5.51.
- Unrealized profit is approximately $740,000; this could be from an internal Coinbase wallet accumulation.
UNI withdrawal line before Unification proposal
An address suspected to belong to a whale or institutional investor repeatedly withdrew UNI from Coinbase before the Unification proposal was submitted.
In the last 6 hours, this address withdrew an additional 2.179 million UNI, worth approximately $12.68 million. Following this withdrawal, the total amount of UNI held by the address increased to 3.629 million UNI.
Frequent withdrawals could reflect accumulation, asset transfers to self-managed wallets, or storage restructuring. However, monitoring data also notes that this may not be purely new buying activity in the spot market.
Cost of Capital, unrealized profit, and consolidation hypothesis.
The Medium withdrawal price for this address is $5.51, with current unrealized profit of approximately $740,000.
Withdrawing UNI from the exchange does not automatically equate to buying, as this address may be part of Coinbase's internal wallet consolidation activities. In that scenario, the withdrawal represents a technical transfer between wallets rather than an out-of-wallet flow.
Nevertheless, the holdings of 3.629 million UNI and the withdrawals of $12.68 million within a 6-hour window remain noteworthy on-chain signals regarding supply fluctuations on the exchange and the custody behavior of large entities.
