One crypto exchange’s loss is another crypto exchange’s gain.

This holds true with cryptocurrency exchange Uniswap after it recorded a weekly loss of over 20% brought by a large investor offloading a huge number of tokens.

Crypto exchange Uniswap has seen its native token UNI drop by 20% over the week as a large investor offloaded a huge number of tokens and transferred them to another crypto exchange platform.

At press time, UNI trades at $5.80 after dropping by 2.80% in the last 24 hours.

The drop, which comes amid heightened selling pressure, can be attributed to a large investor who unloaded a big chunk of his UNI tokens and transferred them to Kraken.

According to Lookonchain, the whale deposited all 2.25M UNI tokens to #Kraken about 2 hours ago.

The post claimed that the whale might be cutting losses after a considerable unrealized gain from the UNI token vanished.

According to the crypto market observer, the whale began accumulating the UNI tokens on September 7, noting that the large investor had mopped up 2.25M UNI at an average price of $6.92 between Sept. 7, 2024 and Nov. 18, 2024.

At its peak, the large investor recorded an unrealized profit of $26.5 million. However, recent market conditions have brought down the coin’s unrealized earnings to only $1.86 million, which might be the primary reason why the whale decided to move the 2.25M UNI tokens to Kraken at a total value of $13.71 million.

Another crypto analyst observed that indicators showed a bearish picture for Uniswap.

In his analysis of what the future holds for Uniswap using the on-chain metrics, Santiment shared that the Exchange Flow balance increased from -428,920 to 2.23 million in two days.

The metric, which tracks the net movement of tokens into and out of exchange wallets, showed that there is a possible surge in selling pressure, indicating that many tokens are being moved into exchange wallets.

Another metric, the Supply on Exchanges, illustrated that the token increased by 2.67% in the last 24 hours, which the analyst claimed reinforced the notion of traders offloading their UNI holdings amid declining confidence in Uniswap’s performance.

Previous data showed that such trends usually result in a further decline in the token’s price.

Other market observers checked UNI’s technical indicators, revealing a negative sentiment towards the crypto exchange’s native token. The Bollinger Bands showed that it is tightening with the middle band at $7.470. Meanwhile, the upper and lower bands are at $9.332 and $5.608, respectively.

Analysts said that the UNI’s price is on the lower band, indicating a strong bearish momentum, which could explain the drop in unrealized profit for the token.