Could this move from 1Inch affect Uniswap prices



**The Recent Sale of Over 400,000 UNI Tokens by 1Inch Investment Fund**

As of November 19, 2023, the cryptocurrency market is abuzz with the news of the recent sale of over 400,000 UNI tokens by the 1Inch Investment Fund. This move has raised questions about the potential impact on the trend of UNI tokens, which have seen a steady decline and are currently trading below the $5 mark.

#### 1Inch offloads its Uniswap holdings

According to reports from Spot on Chain, the 1Inch Investment Fund sold off its entire holdings of UNI tokens on November 17th. The sale consisted of 416,924 UNI tokens, valued at approximately $213 million. Notably, the tokens were sold at an average price of $5.11, indicating the possibility of a loss on this investment for the fund.

#### How it impacted the flow of Uniswap on exchanges

Despite the sell-off, the influx of UNI tokens into exchanges has seen a noticeable increase, although the volume of tokens flowing out of exchanges is also significant. An analysis revealed that over 973,000 UNI tokens entered exchanges, while more than 803,000 tokens left exchanges. The sell-off by the 1Inch Investment Fund did not significantly affect the flow of UNI tokens, with more sales than withdrawals by a small margin.

#### UNI keeps dipping

An analysis of the daily timeframe chart for Uniswap indicates a persistent negative trend, with the price of UNI tokens trading at around $4.9 as of the report. This represents a loss of over 2% and a total decrease in value of more than 7% over the last three days. The breach below the long-moving average line on the price chart signifies a weakening bull trend, further corroborated by the Relative Strength Index (RSI) indicating a decline in the bull trend.

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In conclusion, the recent sell-off of UNI tokens by the 1Inch Investment Fund has not only raised concerns about the impact on the UNI trend but also shed light on the dynamics of token flow on exchanges amid the overall decline in the value of UNI tokens. As the market continues to navigate these developments, it will be interesting to see how UNI tokens and the broader cryptocurrency market respond to these shifts.



### News source: eng.ambcrypto.com

By Team