Cumberland-linked wallet moves $8.73M UNI – Is Uniswap’s $3 floor next?

Uniswap [UNI] faced intense bearish pressure over the past two weeks. After facing rejection at $4.50, the altcoin entered a descending channel and fell to a $3.40 low.

Over the same period, UNI’s Trading Volume dropped 42% to $154 million, showing weaker market activity.

Why are major UNI holders selling?

Amid the downturn, large holders increased their exchange activity significantly. According to Nazoku, a Cumberland-linked wallet transferred over $4.5 million in digital assets to Binance.

UNI represented most of those assets. The wallet moved 1 million UNI worth $3.48 million to Binance. It also deposited 1.5 million UNI worth $5.25 million into Bybit through three separate transactions.

In total, the wallet moved 2.5 million UNI worth $8.73 million to exchanges.

Even after those transfers, the wallet held 1.22 million UNI worth $4.23 million. However, its remaining balance did not confirm whether further sales would follow.

The Cumberland-linked wallet was not alone. Two days earlier, a long-term holder sold 9.29 million UNI worth $33.46 million. The holder reportedly executed the sale through Coinbase Prime.

Together, these transactions increased UNI’s potential sell-side supply during an already weak market.

On top of that, Uniswap’s Exchange Supply Ratio rose for three consecutive days. The metric reached a monthly high of 0.105, showing that a larger share of UNI’s supply sat on exchanges.

This could raise near-term selling risk. However, exchange deposits alone do not confirm completed sales.

UNI also declined for five consecutive days, reinforcing its bearish market structure.

Can UNI price hold above $3?

Uniswap [UNI] remained under pressure from whales and institutional holders. Meanwhile, visible buying demand remained limited. The Bulls V Bears indicator confirmed this bearish control.

The metric stayed negative for five consecutive days, reaching approximately -60 at press time.

At the same time, UNI’s Relative Strength Index [RSI] declined to 38. An RSI below 50 signaled weak momentum, although UNI had not yet entered oversold territory.

These conditions could extend UNI’s decline if large holders continue sending tokens to exchanges.

In that case, UNI may test the $3 support level. However, renewed demand could help defend $3.40.

Final Summary

• A Cumberland-linked wallet moved 2.5 million UNI worth $8.73 million to exchanges. Another long-term holder sold 9.29 million UNI worth $33.46 million.
• Continued selling could push Uniswap toward $3, while renewed demand may protect $3.40.