<\/p>\n
- \n
- FTX\/Almeda recently moved UNI and LDO worth millions of dollars to two exchanges.<\/span><\/em><\/li>\n
- UNI and LDO both suffered price declines but saw a little respite.<\/span><\/em><\/li>\n<\/ul>\n
FTX<\/a> has been shaking up the market lately by selling off some of its holdings. According to a recent report, among the assets sold by the defunct exchange were Uniswap [UNI]<\/a> and Lido [LDO]<\/a>. Did this recent shift have any impact on the trajectory of these assets?<\/span><\/p>\n
\nRead Uniswap (UNI) Price Prediction<\/a> 2023-24<\/p>\n
\nFTX move Uniswap and Lido to exchanges<\/b><\/h4>\n
On 27 October, FTX\/Alameda<\/a> made yet another noteworthy move. Per a post from Lookonchain<\/a>, it transferred a portion of its Uniswap<\/a>\u00a0and Lido<\/a>\u00a0holdings over to Coinbase<\/a> and Binance<\/a>. <\/span><\/p>\n
As per data tracked on Etherscan, the exchange shifted 488,250 UNI tokens, valued at approximately $2 million. Additionally, it moved 1,097,482 LDO tokens, which were also estimated to be worth nearly $2 million.<\/span><\/p>\n
This move by the embattled crypto exchange followed a court approval on 13 September. During a court hearing, Judge John Dorsey sanctioned a motion allowing the financially distressed exchange to liquidate, stake, and hedge its cryptocurrency assets. <\/span><\/p>\n
The assets were appraised at over $3.4 billion. Notably, this recent transfer was in addition to a prior report<\/a>. The report indicated that the defunct exchange had also transferred other cryptocurrency assets to the Binance exchange.<\/span><\/p>\n
How Uniswap has fared in the face of the FTX\u2019s impending sales<\/b><\/h4>\n
Examining the daily timeframe chart revealed a recent downtrend in the value of Uniswap over the past few days. It\u2019s possible that the FTX<\/a> asset sales played a role in this decline, with UNI<\/a> shedding over 2% on 27 October. <\/span><\/p>\n
However, it\u2019s worth noting that the Uniswap Foundation\u2019s decision to initiate a sell-off may have also played a part.<\/span><\/p>\n
![\"Uniswap](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/UNIUSD_2023-10-28_07-12-19.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
As of this writing, UNI appeared to be experiencing a modest recovery from its recent decline. It was trading at a price that had risen by just over 1%, reaching approximately $4. <\/span><\/p>\n
However, this recent upturn wasn\u2019t sufficient to transition UNI into a bullish trend, as suggested by its Relative Strength Index (RSI).<\/span><\/p>\n
The trend of Lido in light of the recent move<\/b><\/h4>\n
- UNI and LDO both suffered price declines but saw a little respite.<\/span><\/em><\/li>\n<\/ul>\n
![\"Lido](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/LDOUSDT_2023-10-28_07-32-46.png\")