Ethereum whales are too capricious? He Spent $18M to Push Uniswap ETH Price to $450

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

, Author: Anton Tarasov, Compile: Overnight Porridge, published with permission.

Today, the decentralized exchange Uniswap processed an abnormally large transaction of 40,000 ETH. Based on its transaction price of 450 US dollars, the value of this transaction reached approximately 18 million US dollars. The problem cost nearly $2 million.

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(Data source: UniswapVision)

Since Uniswap uses a constant product automatic market-making algorithm, such a large transaction will generate a very large slippage. After this transaction occurred, the ETH price on Uniswap was pushed up to $450 in an instant. According to the area Block chain data shows that this whale address received USDT from an address associated with the Huobi exchange, and after the transaction was completed, the whale distributed the exchanged 40,000 ETH to multiple newly created addresses.

Data on the chain shows that this huge amount of USDT is related to Huobi’s address.