In the dynamic world of cryptocurrency, astute investors—often referred to as SmartMoney—are known for their strategic moves. One such investor recently generated approximately $446K profit through the Uniswap ($UNI) token.
The lucrative strategy was first noticed and shared by Lookonchain, a prominent blockchain analytics platform on Twitter.
According to Lookonchain, this remarkable feat was achieved by shorting $UNI on-chain, a strategy that involved borrowing $UNI from platforms like Compound and Aave, selling at high prices, and then repurchasing at lower prices to repay the borrowed amount. This efficient use of lending platforms and smart trading decisions have enabled the trader to accumulate significant profits over time.
This SmartMoney made a significant move following the announcement of Uniswap v4, selling 43,270 $UNI ($191K) at a high price point of $4.411.
Uniswap v4, a major upgrade to the Uniswap protocol, introduces powerful new functionalities, including customizable liquidity pools via "hooks" and streamlined pool creation that reduces the cost by 99%.
