Uniswap Team Sells UNI Tokens After Altcoin’s 70% Rally

Uniswap Team Sells UNI Holdings

• Uniswap team sold 90,000 UNI tokens worth $1.03 million at $11.48.
• The wallet received 5.44 million UNI ($62.46 million) and currently holds 926,000 UNI ($10.63 million).

UNI Rallies Over 70%

• UNI rallied by over 70% from its weekly low of $7.06.
• The rally was triggered by a proposal to alter Uniswap’s fee structure to reward UNI stakers and delegators.

Uniswap Foundation’s Proposal

• The proposal aims to improve Uniswap governance by incentivizing engaged delegation.
• The foundation believes the upgrade will strengthen and invigorate Uniswap governance.
• The proposal is expected to attract new delegates committed to the project.

Current UNI Price

• At the time of writing, UNI is trading at $10.89, up over 3% in the last 24 hours.