- Uniswap’s daily active address and new wallet count reached fresh heights.
- UNI’s Chaikin Money Flow suggested that now might be a good time to buy.
The count of daily active addresses on Uniswap [UNI] climbed to a two-year high due to the unprecedented rally in the value of meme tokens in the past few weeks, Delphi Digital found in a new report.
Realistic or not, here’s UNI’s market cap in BTC terms
According to the on-chain data provider, “daily active addresses on Uniswap are spiking to levels not seen since May 2021.”
As of 9 May, the decentralized exchange (DEX) logged a count of 25,409 active addresses. Uniswap’s daily active addresses have risen consistently since the year began, fueled by the general market bullish run in Q1 and the meme coin frenzy of the past few weeks.
Additionally, Delphi Digital found that the number of unique wallets on Uniswap rallied to its highest level in almost two years, with nearly 80,000 users recorded. This surge marked a significant increase in the count of unique wallets created on the DEX since May 2021.
Much ado about nothing?
While Uniswap’s network activity has grown considerably well in the last year, data from Token Terminal revealed a decline in some of the DEX’s key ecosystem metrics. For example, with $519.30 billion recorded in trading volume in the last year, this represented a 38.30% drop.
A natural consequence of the decl
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Author: Abiodun Oladokun
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