Whale Dumps Millions of Altcoin on Major Exchange, Price Drops!

A crypto whale has triggered a price drop by selling millions of dollars worth of an altcoin.

According to data shared by on-chain analysis platform Lookonchain, a crypto whale sold 7 million dollars worth of Uniswap (UNI).

The data showed that the whale in question sold 606,088 UNI worth $7.08 million on June 6. The price dropped 4% following the sale.

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This whale had bought 1.3 million UNI worth $13.7 million from the cryptocurrency exchange Binance at a cost of $10.54. After the sale transaction, 696,808 UNI worth $7.46 million remained in the wallet.

The whale has made a profit of approximately $800,000 from its UNI investment so far.

UNI, which has decreased by 4.9% in the last 24 hours according to CoinGecko data, is trading at $10.