Union Square Ventures transferred 578,000 UNI tokens to Coinbase Prime in the past nine hours, worth about $8.45 million.

The action is part of a broader trend of Uniswap movement (UNI) tokens were staked by USV earlier this month, as reported by Ember Scan. On December 19, the UTIMCO-backed venture capital firm transferred an additional 1.156 million UNI tokens to Coinbase Prime, which were worth approximately $17.34 million at an average price of $15.07 per dollar. Historical data.

USV continued transferring 578,000 to Coinbase Prime 8 hours ago $UNI ($8.45 million).

USV began transferring UNI acquired through investment in 2020 to Coinbase Prime on December 6. Currently, a total of 3.511 million UNI ($54.56 million) have been transferred in three weeks, with an average price of $15.53.

The number of UNI currently held by USV title is 10.364 million ($149.66 million). … https://t.co/ULpXyrgLJb pic.twitter.com/o9uqdyj7Pd

– Ember (@EmberCN) December 25, 2024

On December 6, 2024, USV began transferring the UNI tokens they received from 2020 Investing in Coinbase Prime. The venture capital firm transferred 3.511 million UNI, worth an estimated $54.56 million, in total over the past three weeks. Here, the average price of transfer tokens is $15.53.

4 hours ago USV continued to transfer 1.156 million to Coinbase Prime $UNI ($17.34M)。

USV began transferring UNI acquired through investment in 2020 to Coinbase Prime on December 6. A total of 2.933 million UNI ($46.11 million) were transferred in two weeks, with an average price of $15.72.

The number of UNI currently held by USV title is 10.943 million ($160.75 million). … https://t.co/8hUAdDDar8 pic.twitter.com/la7P7XOJxl

– Ember (@EmberCN) December 19, 2024

Even after noteworthy transfers, the address associated with the USV still has a large number of UNI tokens in its possession. Currently, the title still holds 10.364 million UNI, which equates to approximately $149.66 million at the current market price of $14.19.

The Series A investment round raised $11 million for Uniswap in 2020. Andreessen Horowitz led the round with significant participation from big-name investors Version One, Parafi Capital, Variant, SV Angel, and A.S. Capital, along with Union Square Ventures. The goal of raising capital was to facilitate the development and scale of Uniswap Non-custodial Trading services.

like I mentioned By crypto.news Earlier, Uniswap also caught the attention of regulators when the Commodity Futures Trading Commission filed an order against Uniswap Labs on September 4, 2024, for allowing illegal trading in digital asset derivatives. Under the terms of the settlement, Uniswap Labs was required to pay a civil penalty of $175,000 and stop violating the CEA.

USV appears to be making its way into several certain Coinbase accounts to prepare for liquidation, storage, or wallet reallocation. The constant transfer of funds to Coinbase Prime, a service designed specifically for institutional investors, indicates a systematic approach to managing its UNI assets.