UNI Crypto Faces Drawdown as Old Whale Moves Token to Wintermute

UNI crypto is under pressure, and the on-chain trail suggests the selling may not be over. Uniswap’s token is trading near $8.88, down about 1.8% over the past 24 hours. It dipped as low as $8.45 before bouncing, after failing to defend the $10 level earlier in its rally.

There is a twist in this pullback, though, that most retail traders have probably missed.

An early Uniswap investor moved roughly $12.83 million worth of UNI to Wintermute’s hot wallet on September 28, according to on-chain data. The tokens were first distributed through the protocol’s investor contract five years ago.

Wintermute is a market maker known for handling OTC deals. Transfers this large into its wallets during a pullback tend to rattle markets, whether or not a sale follows. For now, the tokens remain unsold. That does not mean the risk has passed.

Early Uniswap investor just sent $12.93m worth of $UNI to Wintermute — the last tokens it received from the [Uniswap: Investors] contract 5 years ago.

What’s the plan? pic.twitter.com/tneBiLEcxj

— Nazoku (@Nazo_ku) September 28, 2026

Can Uniswap Price Reclaim $10 This Week?

UNI crypto traded between $8.45 and $9.14 over the past 24 hours. Daily volume held near $1.02 billion, with a market cap of about $5.51 billion. On MEXC’s daily chart, the token was up a slight 0.89% on the day as of 07:32 UTC, suggesting buyers stepped in at the lows.

The bigger picture still favors the bulls. UNI broke out of a long 2026 base in September, briefly spiking near $11. It is now holding above the former resistance around $8.32. The 50-day and 200-day moving averages sit far below, near $6.75 and $4.89.

The liquidation data shows how fragile the move remains. CoinGlass recorded $2.89 million in long liquidations as UNI tested $9. Uniswap also saw $385 million in outflows against $321 million in inflows over 24 hours.

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Bull, Base, or Bear: Can UNI Crypto Hold $8.32 Support?

• Bull case: UNI reclaims $9.40 and holds it, supported by governance catalysts such as the UNIfication burn proposal. CoinLore’s model sees a break above $9.40, opening a path toward $10.87.
• Base case: Price chops between $8.32 and $9.40 while the market waits to see what happens to the Wintermute tokens.
• Bear case: A confirmed OTC sale adds fresh supply to an already thin order book. A loss of $8.32 would expose the $6.71 level. CoinLore’s model places deeper support at $6.02, with $5.87 below that.

Traders watching this setup should track volume and the Wintermute wallet before taking a position.

Bitcoin Hyper Targets Early Mover Upside as Uniswap Tests Key Levels

A five-year-old whale cashing out through a market maker during a market-wide crash isn’t exactly a vote of confidence. When liquidations mount, and outflows outpace inflows, capital tends to look elsewhere: often toward earlier-stage plays where the entry price hasn’t already priced in a decade of protocol history. That’s the rotation thesis driving attention toward presales like Bitcoin Hyper right now.

Bitcoin Hyper ($HYPER) bills itself as the first Bitcoin Layer 2 with Solana Virtual Machine integration, aiming to deliver execution speeds faster than Solana itself while settling security back to Bitcoin through a decentralized canonical bridge.

The presale has raised $33 million to date, with tokens priced at $0.0136869 and staking rewards offered at a 35% APY. The pitch: fast, low-cost smart contracts on Bitcoin without sacrificing its base-layer trust model. As with any presale, capital is locked until token generation.

Those tracking the raise can research Bitcoin Hyper directly, and further context on the fundraising trajectory is available in coverage of Bitcoin Hyper’s $33M presale milestone.

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