Amber Group Transfers $11M in UNI to Coinbase Prime, Sparking Custody Speculation

A wallet linked to the crypto trading firm Amber Group has moved approximately 1.39 million UNI tokens, valued at around $10.98 million, to Coinbase Prime, according to blockchain analytics. This transfer followed an accumulation of 1.41 million UNI (worth about $11 million) over the preceding three days.

The movement, tracked by platforms like Lookonchain and The Data Nerd, occurred within the last hour before the news broke. Coinbase Prime is typically used by institutions for custody and over-the-counter trading, suggesting the transfer is likely for secure storage rather than an immediate sell-off. Market observers note that UNI's price has not shown significant volatility post-transfer, indicating a neutral market perception.

Community speculation ranges from viewing this as a bullish signal for long-term UNI holding to a precursor for strategic trading or lending activities. Amber Group, known for managing large asset portfolios, has not issued an official statement, but the event underscores growing institutional interest in DeFi governance tokens.