Unifi Protocol DAO’s native token, $UNFI, has recently faced a significant downturn, witnessing a 12% loss within the past 24 hours and a more substantial 35% decline over the last 7 days.
Insights shared by Spotonchain on X have brought attention to potential factors contributing to this recent drop in price. The analysis points to the involvement of four influential whales who collectively deposited 2.02 million $UNFI ($18.5 million) into Binance over the past few days.
Whales with addresses 0x07c, 0x997, and 0x674 (presumably representing a single entity) orchestrated deposits amounting to 1.82 million $UNFI ($16.9 million) on Binance, executed at an average rate of $9.27. The estimated combined profit resulting from this coordinated effort stands at approximately $4.32 million.
In a separate transaction, another whale identified as 0x931 transferred 200,049 $UNFI ($1.65 million) to a Binance deposit address, incurring an estimated loss of $702,000 if these tokens were to be sold at the current market value.
Additionally, blockchain activity revealed the return of a knowledgeable trader with the address 0xf32 after three months of inactivity. This trader moved 300,000 $UNFI ($2.79 million) to a different address, showcasing an estimated total profit of $2.22 million.
These whale-driven actions undeniably contributed to the recent decline in $UNFI’s value, underscoring the influence of major token holders on market dynamics. As the market absorbs these developments, the future trajectory of $UNFI remains uncertain, and observers are keen to see how the strategic moves of these whales will continue shaping its value in the days to come.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.