It then bought 228,704 COMP, the governance token of the Compound lending protocol, at approximately $49.41 per token, shelling out a further $11.30 million and bringing its total outlay to $62.83 million.
However, just ten months later, the position has gone deep underwater, with onchain data showing that the wallet is capitulating. Earlier today, it deposited 2.705 million UNI worth $9.23 million and 114,352 COMP worth $2.31 million into Binance. UNI has fallen roughly 64% from the trader’s $9.52 entry to approximately $3.36 today, while COMP has shed approximately 59% from $49.41 to around $20.21. The combined loss on the full position has exceeded $39.7 million.
The Binance deposits represent approximately half of the original holdings, meaning the remaining lot may follow in the near future. Moreover, exchange deposits of this size are widely interpreted as a sign of potential open-market selling rather than custody transfers, especially given that Binance is the world’s largest spot trading venue.
DeFi Governance Tokens Remain Under PressureDespite that structural support, UNI has traded below $4 for most of 2026, a fraction of its 2021 highs above $40. Compound has faced intensifying competition from Aave and newer lending platforms, and COMP has remained persistently weak as a result.
When deep-pocketed early buyers exhaust patience and begin selling, it can add sustained downward pressure on already weakened assets. Whether wallet 0xfa93 clears the full remaining position will be in the days ahead.
