A well-known crypto trader known as “Maji Dage” is currently facing an unrealized loss of about $110,000 on a $2.1 million long position in Uniswap’s UNI token, according to data from Ember Monitoring.
The whale bought 220,000 UNI at an average price of $9.85, but the token now trades around $9.34, down 5.2% in the last 24 hours. The trade, placed on November 8, came during a short-lived altcoin rally linked to optimism around Uniswap v4’s upgrade rollout. However, broader market volatility and recent liquidation events have since pulled UNI lower.
A Risky Trade Turned Sour
On-chain data shows Maji Dage funded the trade using USDC swaps on Uniswap and 3x leverage via Aave, aiming to profit from growing DEX activity. UNI briefly approached $10 as decentralized exchange volumes hit $450 million for the week. But the rally faded when Bitcoin dropped below $106,000 and Ethereum hovered near $3,600, sparking a market-wide sell-off that triggered $301 million in liquidations, including $169 million in long positions.
If UNI falls below $9.20, Maji Dage’s position could face liquidation, according to Ember data. The trader’s wallet has not moved since entering the trade, suggesting a hold strategy despite the current loss.
“Maji Dage is known for taking bold, high-risk bets, but this market’s volatility is testing everyone’s limits,” said Dune Analytics contributor @hagaetc, who first flagged the trade.
The whale, who reportedly holds over $50 million across DeFi assets, made headlines earlier this year for a successful $15 million short position on Solana (SOL). Still, this UNI trade—roughly 4% of their portfolio—shows how quickly leveraged altcoin bets can turn red.
| Maji Dage’s UNI Position (as of Nov. 11, 2025, 08:00 UTC) | Value |
|---|---|
| Tokens Held | 220,000 UNI |
| Average Entry Price | $9.85 |
| Initial Investment | $2.168 Million |
| Current Price | $9.34 |
| Unrealized PnL | -$110,000 (-5.07%) |
| Leverage Ratio | 3x (via Aave) |
| Estimated Liquidation Price | $9.20 |
Market Context: Altcoins Lose Steam
UNI’s fall mirrors a slowdown across altcoins. The global crypto market cap stands at $2.32 trillion, down 0.5% over the past day, despite optimism following the U.S. Senate’s vote to end the government shutdown.
Ethereum slipped 0.87% to $3,605, and higher gas fees on the Uniswap v4 testnet—up 15%—failed to attract new buyers. UNI also faces competition from Solana-based DEXs like Jupiter, which now account for 22% of weekly trading volumes.
The $301 million liquidation wave mostly hit altcoin longs, including $12 million in UNI derivatives liquidations on Binance. Rising U.S. tariff concerns have also weighed on DeFi sentiment by increasing hardware and infrastructure costs.
What’s Next for UNI Traders
Technically, UNI faces resistance near $9.50—its 50-day moving average—but could rebound to $10.50 if Ethereum rises above $3,700 after Thursday’s CPI report. Analysts remain divided: Messari’s Ryan Selkis sees UNI reaching $15 by Q1 2026, while others warn of short-term pressure from low liquidity and ETF outflows.
For Maji Dage, the current loss is small compared to past wins, but it’s a clear reminder of crypto’s volatility. As Ember Monitoring wrote on X:
“In DeFi, every position is a stress test. The question is—will Maji Dage double down or walk away?”
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk.
