USV, an early investor in Uniswap (UNI), has sent another batch of tokens to Coinbase Prime. This move could indicate that USV is taking profits on its earlier investments. USV has transferred a total of 3.511 million UNI tokens, valued at $54.56 million, to Coinbase Prime over the past three weeks. The fund still holds over 10 million UNI tokens, worth more than $156 million. USV has been relatively small in its involvement with Uniswap compared to other venture capital backers. However, the fund has achieved significant returns, with total returns of over 165,200%. Uniswap, the decentralized exchange (DEX) project, has raised over $188 million in various funding rounds. USV participated in a Series A round raising $11 million. Uniswap has received backing from other major investors, such as A16Z and Polychain Capital. The DEX project currently has over 18% of the UNI token supply owned by investors, with the majority reserved for governance and community activities. UNI has maintained a respectable price range, and USV has profited from holding onto its tokens, as the early market price was under $3.50. Despite the transfers, UNI still trades at $14.12. Uniswap has shown patterns of selling from VC backers, and the price action has been influenced by the slowdown of DEX trading. However, Uniswap's activity has expanded, with over $6 billion in total value locked and the promotion of its native Unichain to builders. Uniswap V3 on Ethereum remains the most active version, with $961 million in daily trading volumes. In 2024, USDC became one of the most widely traded assets on Uniswap, contributing to over $1 trillion in trading volumes. The DEX has earned almost $1 billion in fees for the year so far and is on track to exceed $1 billion by the end of 2024.



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