Analyzing why Uniswap’s network growth hit a 4-year high despite UNI’s 5.4% drop

Uniswap [UNI] registered 2,295 new UNI-related wallets in a single day and marked its highest daily network growth since November 2022. According to Santiment's analysis, the hike in wallet recreation was mainly linked to recent developments in the Uniswap ecosystem. Something is still not right! According to AMBCrypto's recent report, Uniswap recently launched Aggregator Hooks across Ethereum [ETH], Base, and Robinhood Chain. This was done in order to enable v4 pools to access external liquidity and expand trading routes. In other words, these developments appear to have attracted more users, traders, and developers to the ecosystem. However, an OTC-linked wallet that deposited 180,000 UNI, worth around $1.25 million to Binance, raised potential selling-pressure concerns at the same time.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.