In a notable sequence of transactions and upgrades, Uniswap—one of the largest decentralized exchanges in the crypto space—transfers significant amounts of UNI tokens from long-term holders to centralized exchanges.

At the same time, this platform makes great strides towards enhancing user experience with a new feature: one-click swaps. Users now can execute swaps with a single click, thanks to the EIP-5792 support that is part of Ethereum’s “Pectra” upgrade.

Over $82 Million in UNI Moved to Coinbase Prime by Early Holders

Investigations into blockchain activity have shown that two investor or institutional addresses associated with the UNI token have moved a combined total of 11.652 million UNI tokens from the Uniswap protocol to Coinbase Prime. Given the current price of the UNI token, that amounts to roughly $82.38 million. What’s notable is not just the size of the transfer, but the identities of the addresses involved—both of which are believed to be long-term holders of the token with early allocations.

在 Uniswap 基金会地址的 43.7 万枚 UNI 流入币安后。
25 分钟前，2 个在 2020 年 9 月从 Uniswap 得到 $UNI 分配的投资人/机构地址一共将 1165.2 万枚 UNI ($82.38M) 转进 Coinbase Prime。

而这跟半个月前 900 万枚 UNI 转进 Coinbase Prime 所使用的充值地址是同一个，所以这些 UNI… https://t.co/i2NuszkySa pic.twitter.com/m14sav3yBa

— 余烬 (@EmberCN) May 14, 2025

The same Coinbase Prime recharge address was used for this movement just half a month ago to deposit another 9 million UNI tokens. The repeated use of this address suggests that these holdings may belong to a single investor or institution that is consolidating or liquidating positions.

This comes just a short while after another notable transfer—437,000 UNI were shifted from the Uniswap Foundation’s address to Binance a mere 25 minutes earlier, swelling the amount of UNI moving into centralized platforms. The timing, so close to that of another notable transfer, and the substantial volume of tokens involved are making Uniswap users and other observers in the DeFi and trading communities curious about the Foundation’s intentions and potential uses of Uniswap as a market-making tool.

One-Click Swaps Go Live with EIP-5792 Support

Although main UNI holders seem to be changing their positions, Uniswap is continuing to upgrade the platform with some important user experience upgrades. The platform has now officially introduced what they are calling “one-click swaps” on the web interface of the protocol. An upgrade that is now available to “smart wallets” that also support EIP-5792. This is a big deal. I mean, anything that can simplify how users interact with DeFi protocols is a step in the right direction.

Uniswap Introduces One-Click Swaps for Smart Wallets with EIP-5792 Support!@Uniswap has rolled out one-click swaps on its Web App, now live for smart wallets compatible with EIP-5792—bringing faster transactions, lower gas fees, and a streamlined user experience.

Thanks to the… pic.twitter.com/aHdTvXOKrF

— Crypto Miners (@CryptoMiners_Co) May 14, 2025

Thanks to Ethereum’s recent Pectra upgrade that afforded widespread compatibility with EIP-5792, users of Uniswap can now enjoy a far more streamlined transaction process. The main enhancement comes from merging the approvals required to undertake a token swap and the execution of that swap into one single-step command. For the most part, and for some tokens especially, users had to interact with two different interfaces to get EIP-5792-compatible tokens to behave in a way that would allow them to swap those tokens for other tokens. Doing this in two parts meant more prompts and more gas fees.

This shift mirrors a wider trend across the industry to make DeFi more accessible and user-friendly. And for the typical user of this kind of protocol—especially one who might not be so experienced with crypto or smart contracts—the implications of these improvements are pretty significant.

“When you break down the protocol and the permission steps, you can see how first-time users and even some experienced users might be stumbling, losing a lot of time and patience, and consequently not achieving a reasonable amount of frictionless success that they had hoped for,” said Alex Wearn, co-founder and CEO of 0x.

What It Means for Uniswap and the DeFi Market

These events converged—large amounts of UNI were sent to exchanges, and significant technical upgrades were rolled out—to put the spotlight on Uniswap. It now seems clear that this decentralized exchange is evolving into something more appropriate for realms inhabited by both retail and institutional users of digital assets. Some people might prefer a centralized exchange, with familiar trading options, but Uniswap is the first truly decentralized alternative that operates similarly to a centralized exchange.

The UNI transfers in question raise concerns about the true nature of these transactions. Are early investors making ready to exit the market, as they anticipate further regulatory or macroeconomic developments that could impact their investments? Or could these transfers be part of a larger set of activities that include providing liquidity for the market, entering into various partnerships, or managing the treasury? These questions don’t have clear answers, but they raise some significant issues for the appearance of the market and the price movements that might happen.

Conversely, the one-click swap feature that is based on EIP-5792 puts Uniswap right at the tip of DeFi innovation. Using the latest technical advancements of Ethereum, the platform is making a sharp push in the race to create a decentralized trading experience that is quicker, cheaper, and more friendly to the user.

Combined, these appearances and conversations capture a defi that is working, engaging a mix of institutional and individual users around a set of tools that, increasingly, feel ultra-efficient and far less risky than even a year ago. Uniswap is at the heart of this dialogue.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ May 15, 2025 4:17 am