Uniswap Rally Could Be In Jeopardy, Despite UNI’s Solid Social Engagement

Uniswap (UNI) started with a bearish stride in 2022 along with Ripple and most other cryptocurrencies but it has been gaining some impressive price action as seen in the past few weeks. UNI’s social engagement up by 53.62% Supply of unique wallet addresses surged since September 12 UNI price looking bullish; up by 4.15% According to CoinMarketCap, UNI’s price has been looking bullish and spiked by 4.15% or trading at $6.77 as of this writing. Related Reading: Tornado Cash Sees Drop In Activity After U.S. Treasury Sanctions – What Now For TORN? UNI Shows Impressive Social Dominance More so, UNI has been outperforming other cryptocurrencies when it comes to its social metrics. UNI’s social engagements have spiked by 53.62% while social mention has grown by 62.15%. In the past couple of weeks, Uniswap is seen to gain social media dominance plus also improved in terms of development activities. In addition, Uniswap’s weighted sentiment is positive as shown from September 28 to September 30. On the other hand, the weighted sentiment dropped immensely as witnessed on October 1. As a consolation, the development activity of UNI has grown rapidly since last week or September 29 and has been fairly consistent ever since. The impressive uptick in terms of development activity is said to be triggered mainly by the network’s Swap widget update. Chart: Santiment These continuous advancements and upgrades are said to be hinting at a b...