In an unexpected turn of events, a new whale, identified by the concise address 0x8e7, has pulled a substantial sum of Unifi Protocol DAO (UNFI) from Binance. This whale acquired 190,488 UNFI tokens, valued at $1.63 million, at a rate of $8.54 per token. As of the current moment, UNFI is trading at $8.73.

Notably, the whale’s accumulation has been solely focused on UNFI, with no diversification into other tokens, including ETH. This strategic maneuver has driven a remarkable 14.5% surge in UNFI’s price within the past 24 hours.

As of now, the whale stands as the 9th largest UNFI token holder, contributing to the token’s total market capitalization of approximately $53 million. It’s worth noting that UNFI is actively traded on prominent U.S.-based cryptocurrency exchanges like Coinbase and Kraken.

According to the cryptocurrency’s own developers, as stated on their website, Unifi Protocol introduces a distinctive approach to the blockchain economy. The network leverages a stablecoin as a gas token to mitigate transaction cost fluctuations and inflation. UNFI is characterized as a multi-chain governance token specifically designed for the Unifi Protocol DAO.