In a surprise move, a new whale known by the short address 0x8e7 has withdrawn a significant amount of Unifi Protocol DAO (UNFI) from Binance.
Whale collected 190,488 UNFIs, equivalent to $1.63 million, at a price of $8.54 per token. UNFI price is trading at $8.73 at the time of this writing.
Interestingly, apart from UNFI, the whale has not accumulated any other tokens, including ETH. This move led to a 14.5% increase in UNFI price over the last 24 hours.
Whale is currently the 9th largest holder of the UNFI token. The total market value of the token is around $53 million. UNFI is also traded on US-based cryptocurrency exchanges such as Coinbase and Kraken.
According to the developers of the cryptocurrency themselves in the statements on the website, Unifi Protocol offers a unique approach to the blockchain economy. The network uses a stablecoin as a gas token to eliminate transaction price volatility and inflation. UNFI is described as a multi-chain governance token for the Unifi Protocol Dao.
*This is not investment advice.