The Ethereum currency has been trading since yesterday until the present time at a price ranging between 375 – 390 dollars, but it recently rose to 450 dollars on the Uniswap decentralized trading platform. against USDC This is an increase of 15%.

The Ethereum trade involved a series of swaps totaling nearly $18 million to purchase just over 40,000 ETH.

Yesterday, within a couple of hours, the price of Ethereum returned to its usual channel like all other exchanges at around $390.

David Hoffman, COO of Realt Platform, assumed that it was either one part of a large arbitrage deal related to DeFi or that someone wanted to take a long position.

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Great deal at a great price:

Developer Adam Tyree Finch added that the deal resulted in a loss of about $2 million due to the slippage, and is unlikely to be an arbitration attempt because there are better ways for that than Uniswap.

Adam added that money laundering in this way can also be tracked, when delving into the address used.

Indeed, it has been confirmed that Ethereum has been transferred to Binance and that the Tether used to purchase it originally came from Huobi.

Adam Cochran, partner at Cinneamhain Ventures, stated that the price slip, which amounted to about 11%, was not that bad, as his statement came to the effect:

The most impressive part here is that the slip was actually not that bad!

Don’t get me wrong, it was big but the DEX couldn’t handle that slip a year ago.

Questions persist about why someone would do this at such a high cost, while some speculation suggests that the people behind this strange exchange may already have been trying to avoid any KYC requirements associated with the more liquid and demanding central exchanges.

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Liquidity and Decentralized Finance:

Certainly, the decentralized finance market is still illiquid enough to facilitate such large transactions and whales that want to go this route will have to pay a high price.

However, Uniswap volumes of liquidity are up, as financial writer Zack Foyle notes that decentralized protocols are well on their way to tracking centralized platforms in terms of liquidity.

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Uniswap has generated $167 million in volume in the last 24 hours. This represents 82% of Bitstamp, 76% of Bitfinex, about 50% of Kraken and more than Bitso, Bittrex and Gemini combined.

Incredibly beautiful TBH.

– Zack Voell (@zackvoell) August 11, 2020

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Two cryptocurrencies are up more than 5,000% year-to-date