Uniswap (UNI) Network Surge: Will It Translate to a Price Increase?

This week, Uniswap (UNI) has recorded a mild price upswing Uniswap (UNI) has recorded a mild price upswing this week as bullish sentiment returns to the global crypto markets. Will the lag in market liquidity slow down the Uniswap price rally?

Recent reports have highlighted how Binance dominance of the crypto spot trading markets has waned for the second consecutive month. On-chain indicators have now revealed that Uniswap has benefited from Binance’s waning traction, along with popular Centralized Exchanges (CEXs) like Huobi (HTX) and Coinbase.

Uniswap (UNI) price made another attempt at the $4.50 territory on Sep 20. But despite the growing network demand, a lag in market liquidity threatens to hamper the UNI price rally.

Uniswap Network Has Attracted a Flurry of New Users as Binance Loses Traction

In recent weeks, Uniswap has gained a flurry of new users and network traction. On-chain data compiled by Santiment shows that 444 new UNI wallet addresses were created on September 19.

Notably, the last time Uniswap Network Growth hit this level was 2-months ago, on July 21. Simultaneously, UNI daily Active Addresses also increased to a 1-month peak of 884.