Amber Group Wallet Moves $11M in UNI to Coinbase
Amber Group wallet transfers $11M worth of UNI to Coinbase Prime, likely for custody, sparking speculation across the crypto space.
- Wallet linked to Amber Group accumulated 1.41M UNI
- $10.98M worth of UNI moved to Coinbase Prime
- Transfer likely for custody, not immediate selling
A wallet associated with the well-known crypto trading firm Amber Group has drawn attention after accumulating a substantial amount of UNI tokens — the governance token of the Uniswap protocol. Over the past three days, the wallet gathered 1.41 million UNI, valued at around $11 million.
This large-scale accumulation was followed by a major move: just an hour ago, 1.39 million UNI tokens (worth approximately $10.98 million) were transferred to Coinbase Prime. This has led many in the crypto community to analyze the intent behind the transfer.
Custody or Market Move?
Coinbase Prime is typically used by institutions for custody and over-the-counter (OTC) trading. Given the nature of the platform, the transfer likely points toward secure storage rather than an imminent sell-off. Still, such movements are always watched closely, especially when they involve large token amounts and institutional players.
UNI’s price hasn’t shown significant volatility following the move, suggesting that the market views this as a neutral or custodial action rather than a signal of dumping. Amber Group, which has previously handled large asset portfolios, may be preparing for future DeFi involvement or simply reorganizing its token reserves.
Community Speculation and Market Impact
While no official statement has been made by Amber Group, the crypto community is actively speculating. Some believe this is a bullish sign of long-term UNI holding, while others see it as a potential prelude to strategic trading or lending activity.
In any case, the involvement of an institutional player like Amber Group highlights growing institutional interest in DeFi governance tokens like UNI. As always, large wallet movements serve as important signals in the crypto market, and this one is no exception.
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