Investment Institution Moves 2.818M UNI Tokens to Coinbase

On November 11, 2025, 2.818 million UNI tokens were transferred to Coinbase Prime after a Uniswap proposal, subsequently dispersed to exchanges including Binance, OKX, and Bybit.

This transfer raises questions about institutional strategies regarding Uniswap governance, potentially influencing how decentralized finance protocols are managed and traded across platforms.

2.818M UNI Movement Triggers Market Speculation

The transfer of 2.818 million UNI tokens, valued at approximately $27.08 million, was identified on-chain and linked to a potential move by Variant Fund. The tokens were routed to Coinbase Prime and subsequently dispersed to major centralized exchanges including Binance, OKX, and Bybit.

The proposal from Uniswap Labs concerned activating a fee switch and introducing a UNI destruction mechanism. According to the Uniswap Governance Forum, while documentation exists, no officials have connected this transfer to the governance actions currently awaiting a vote.

https://twitter.com/uniswap

No public statement or tweet from Hayden Adams on November 11, 2025, regarding the proposal or UNI transfers.

Absent statements from key figures, the crypto community remained speculative about the true intent behind these movements. Without explicit acknowledgment from Uniswap leadership or involved parties, clarity on the transfer’s purpose remains elusive.

Fee Switch Proposal Revives Governance Challenges

Did you know? In 2024, a similar proposal to activate the fee switch was passed but resisted due to community apprehensions. This highlights ongoing governance challenges in implementing such mechanisms.

Current data from CoinMarketCap indicates Uniswap (UNI) is priced at $9.41, with a market cap of $5.93 billion. UNI has undergone notable price shifts over recent periods, rising by 41% in the last 24 hours and 80.08% over 7 days, though it experienced a 17.59% decrease in 90 days. Recent trading volumes suggest increased market activity with a reported 372.17% change.

According to Coincu research, market analysts are monitoring institutional investors’ reactions to potential fee activation. However, governance uncertainty continues to breed caution among stakeholders, delaying broader adoption of proposed mechanisms.