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Uniswap’s UNI, the third-largest token, has set another record by reaching an all-time high price above $13 that shows an increase in at least 100,000 UNI token holdings.
The market was experiencing the usual upswings; meanwhile, UNI has recorded its all-time high price figure. This year started well for Uniswap, as evident by its growth in few weeks and the previous week, it recorded an increase of nearly 38.4%. On Monday, UNI was the significant mover, swinging 30%.
The reason behind this growth can be a rise in whale addresses, with more than 100k of UNI inflated to a new high at 237. Notably, it is also registering a volume growth. Its monthly volume is also at an all-time high of $25 billion this January. No doubt that Uniswap’s UNI is the fourth largest cryptocurrency in terms of total value locked (TVL) and third-largest token in terms of market cap.
Apart from an increase in whale addresses, Uniswap is also witnessing a surge in new active addresses since December 2020. According to the data, more than 20% of the Ethereum transactions are contributed by Uniswap accounts.
The Defi industry is quite a new industry that is breaking the finance industry's barriers, and the industry is showing impressive growth over the past few months. The total value locked (TVL) has reached nearly $26 billion from $1 billion in one year. Seeing the market trend, it is evident that UNI token might see a bull run in the future and will continue its upward trend.