An early Uniswap investor transferred 1.37 million UNI tokens worth $12.93 million to Wintermute, raising concerns about potential secondary market sales. UNI token dropped 9.13% to a low of $9.02, with spot volume rising 45%, reflecting increased selling pressure. Long liquidations reached $2.89 million while outflows hit $385 million against $321 million in inflows. The Relative Strength Index made a bearish crossover at 61, suggesting intense selling pressure that could push UNI toward $8.40 if the trend persists.
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