The crypto DeFi market is booming with the third-largest DeFi token UniSwap (UNI) making a strong surge. A few hours back, UniSwap’s UNI token hit a new all-time high moving past $13 levels.
The UNI Defi token has delivered phenomenal performance over the last few weeks. Over the last week, UNI price has surged nearly 50% while it has surged more than 200% over the last month. The recent UniSwap token performance comes along with consistent network growth.
On-chain data provider Santiment states that the rise in whale addresses is a clear reason behind the UNI price surge.
?????? #Uniswap has just broken yesterday's #AllTimeHigh, & just crossed $13 for the first time. New whale addresses are a clear reason! Our whale holders data indicates addresses with 100k or more $UNI have inflated to a new high themselves at 237. https://t.co/WqpNlq1ZRt pic.twitter.com/mKekgckOPk
— Santiment (@santimentfeed) January 26, 2021
On the other hand, UniSwap (UNI) also continues to register record volume growth. For January 2021, the project monthly volumes are at a record all-time high of $25 billion. So far, the UniSwap protocol has generated over $75 billion in volumes. As reported by Our Network:
“Uniswap is the fourth largest cryptocurrency spot trading venue in the world and consistently commands 50% decentralized trading protocol market share. While long-tail assets play a significant role in the protocol’s success, ETH and WBTC markets together regularly account for 40%+ of total weekly volume”.
Strong Surge In Active Addresses
Last month in December 2020, UniSwap also registered a record surge in monthly unique active addresses. The UniSwap protocol surpassed 300,000 monthly unique active addresses while the media trade sie has jumped to ~$1,200.
As of date, the UniSwap accounts contribute was 20% of all the Ethereum transactions. The UniSwap governance project is warming up fast. The UniSwap Grants Program is now live with over 5K addresses registered as delegates.
UniSwap’s UNI is the third-largest DeFi tokens in terms of market cap and fourth-largest in terms of total value locked (TVL).
