In a surprise move, a new whale known by the short address 0x8e7 has withdrawn a significant amount of Unifi Protocol DAO (UNFI) from Binance.

Whale collected 190,488 UNFIs, equivalent to $1.63 million, at a price of $8.54 per token. UNFI price is trading at $8.73 at the time of this writing.

Interestingly, apart from UNFI, the whale has not accumulated any other tokens, including ETH. This move led to a 14.5% increase in UNFI price over the last 24 hours.

Chart with hourly candles showing the recent rise in the UNFI token.

Whale is currently the 9th largest holder of the UNFI token. The total market value of the token is around $53 million. UNFI is also traded on US-based cryptocurrency exchanges such as Coinbase and Kraken.

According to the developers of the cryptocurrency themselves in the statements on the website, Unifi Protocol offers a unique approach to the blockchain economy. The network uses a stablecoin as a gas token to eliminate transaction price volatility and inflation. UNFI is described as a multi-chain governance token for the Unifi Protocol Dao.

*This is not investment advice.

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