Uniswap absorbed a $5M token dump from a Binance hacker wallet and still gained 3% over 24 hours, supported by demand from its expanding TJAR fee-conversion program.
DeFi & Yields ·
A wallet tied to the Binance hacker offloaded millions of UNI tokens on-chain, including a $5M PROM sale executed at $71 in ETH across a thin pool. Despite this selling pressure, UNI posted a roughly 3% gain over 24 hours, according to analysis on CoinMarketCap.
The price resilience reflects underlying demand driven partly by Uniswap's expanding TJAR fee-conversion program, which now operates across seven chains. This structural support appears to be offsetting the hacker-related sell flow for the moment.
It remains unclear how long this demand dynamic will sustain if additional large token releases emerge from the compromised wallet, or whether the TJAR program expansion will continue to generate sufficient fee-conversion volume to support price stability through further selling pressure.