Coinbase Prime Sees $82M UNI Institutional Sell-Off Amid Market Volatility

Uniswap’s UNI token experienced a 6% drop as institutional investors moved 11.65 million tokens ($82M) to Coinbase Prime. Despite the sell-off, UNI retains a 20% monthly gain, highlighting its resilience in a volatile market. The token failed to hold the $6.780 resistance level, triggering a downward trend under heavy selling pressure.

Uniswap’s UNI Token Drops 6% Amid Institutional Sell-Off, Retains Monthly Gains

Uniswap’s UNI token faced a sharp 6% decline as institutional investors offloaded $82 million worth of holdings, transferring 11.65 million tokens to Coinbase Prime. Despite the sell-off, UNI maintains a 20% monthly gain, underscoring the cryptocurrency’s volatile yet resilient market position.

The token struggled to hold the $6.780 resistance level, cascading downward through multiple high-volume selling periods. Blockchain data reveals concentrated selling pressure between 05:00-07:00 and at 10:00 UTC, with UNI-USD dropping from $6.658 to $6.286 within 24 hours.

Coinbase Launches $20M Bounty Following Insider Data Breach

Coinbase faces a targeted data breach involving compromised customer service agents, with fewer than 1% of users affected. Personal details—names, addresses, phone numbers, and partial banking data—were leaked, though login credentials and funds remained secure.

The attackers demanded $20 million in extortion payments, which Coinbase refused. Instead, the exchange launched a $20 million bounty program to investigate the incident, bolstered security measures, and notified impacted users. Legal repercussions for the perpetrators are promised.

SEC Scrutinizes Coinbase: Unexpected Probe Continues

The U.S. Securities and Exchange Commission (SEC) persists in its investigation of Coinbase, despite a broader shift toward dismissing cryptocurrency-related cases under the new administration. While fraud allegations remain a priority, the regulatory body has dropped longstanding suits, including the high-profile XRP case. Coinbase, however, remains under scrutiny for potential user count misrepresentation.

Regulatory winds shifted following the appointment of crypto-friendly chairman Paul Atkins, leading to the dismissal of Coinbase’s marketing lawsuit. Yet, sources indicate the SEC continues to probe the exchange’s operations. Market participants watch closely as the outcome could set precedent for future crypto enforcement actions.