PANews reported on April 29 that according to on-chain analyst @ai_9684xtpa, crypto venture capital firm Continue Capital transferred 1.5 million UNIs worth $8.12 million to Unichain half an hour ago.

The institution's address holds as much as $942 million, of which $162 million of tokens are used as LPs in Uniswap V4, and another $119 million are used in Unichain to participate in liquidity incentive activities.

@ai_9684xtpa posted an update : It has been confirmed that the address should belong to Ring Protocol (a DEX project). Since Continue Capital participated in Ring Protocol's pre-seed round of financing, there was a financial interaction between the two, which caused confusion.