According to on-chain analyst Yu Jing, after Variant Fund sold UNI, another Uniswap investment institution began selling UNI: USV transferred 473,000 UNI (worth $7.68 million) into CEX half an hour ago. In 2020, USV obtained a distribution of 15.28 million UNI through investment and they currently still hold 12.78 million UNI (worth $204 million).