Uniswap Drops 25% as New Wallets Surge
Santiment is seeing the biggest influx of new UNI wallets since 2022, even as the token keeps sliding. The growth is tied to Uniswap v4 and Unichain, but the price remains weak.
Key Takeaways
- UNI fell 25.75% in a month to $6.93 and lost another 3.82% over the past 24 hours.
- Santiment counted 2,295 new UNI wallets in one day, the highest level since November 2022.
- Uniswap v4 has about $1.44 billion in TVL, nearly 17% more than a month ago.
Uniswap token UNI has dropped 25.75% in a month to $6.93 (€6.19), but on-chain data also shows that new users are coming back. Santiment counted 2,295 new UNI wallets in one day, the fastest pace since November 2022.
New Wallets on Uniswap
According to Santiment, network growth shows how many addresses are interacting with UNI for the first time. The company sees the recent spike as a sign that a lot of new participants are coming in, although that still does not say anything about an immediate price recovery.
Santiment linked that influx to the continued rollout of Uniswap v4, broader liquidity routing, and work on Unichain, Uniswap's layer-2. The new version of Uniswap, launched in January 2025, also introduced a hooks system that lets developers build their own smart contracts into different steps of a liquidity pool.
Price Remains Weak
Despite that growth, UNI is still under pressure. The token fell 3.82% over the past 24 hours, pushing it further away from the $10 (€8.93) zone that was tested earlier. Analyst Phoenix points out that the price is now below the Ichimoku cloud and below the moving averages, while trading volume is declining.
DefiLlama meanwhile shows that Uniswap v4 has about $1.44 billion (€1.3 billion) in total value locked. That is nearly 17% more than a month ago. The higher TVL shows that more capital is sitting in the new version, but so far that has not reversed UNI's decline.
Why This Matters
For European crypto readers, this is especially interesting because Uniswap remains one of the biggest DeFi platforms, and changes there are often closely watched across the crypto market. The mix of more wallet activity and a weak price shows that usage and price do not always move together. For anyone following DeFi, this is a good example of how product upgrades and market confidence can move side by side.
