On-chain monitoring shows that trader web3vc (address 0x11b6...e3B6) appears to be preparing to cut his losses on UNI.
Three hours ago, he withdrew 1.79 million UNI worth around $13.18 million from Venus Protocol, then transferred it directly to Binance. Moving assets from a lending protocol to an exchange is usually interpreted by the market as a sign that a sale may be imminent.
For context, he started building his UNI position about a year ago, at an average cost of around $9. When UNI rebounded a few days ago, he briefly returned to profit for the first time—but chose not to take profits. Now that he has sent this batch of UNI to Binance, it looks more like he intends to exit at a loss.
Based on its current value, if he does sell this UNI on Binance, he’ll take a loss of nearly $3 million. In short, after holding on for a year and finally seeing a profit without selling, this trader now appears ready to give up on the position.
Three hours ago, he withdrew 1.79 million UNI worth around $13.18 million from Venus Protocol, then transferred it directly to Binance. Moving assets from a lending protocol to an exchange is usually interpreted by the market as a sign that a sale may be imminent.
For context, he started building his UNI position about a year ago, at an average cost of around $9. When UNI rebounded a few days ago, he briefly returned to profit for the first time—but chose not to take profits. Now that he has sent this batch of UNI to Binance, it looks more like he intends to exit at a loss.
Based on its current value, if he does sell this UNI on Binance, he’ll take a loss of nearly $3 million. In short, after holding on for a year and finally seeing a profit without selling, this trader now appears ready to give up on the position.