UNI Draws 13,137 New Wallets in a Day, Most Since September 2020

Uniswap's Fastest Wallet Growth Since 2020

13,137 new Uniswap (UNI) addresses appeared in a single day, the largest daily count since September 2020, and the jump in new wallet addresses arrived just as the market tested the $7 line. Daily active addresses climbed in step to 14,591, a one-year high, according to Santiment's on-chain data. The readings, published early on Thursday, cover the prior day's activity. Network growth, the metric behind the count, tracks fresh addresses on a given day and is read as an early gauge of new-user arrival; active addresses rising alongside it means existing wallets transacted more as well, not only arrivals. The activity centers on Uniswap, the largest decentralized exchange in the sector, whose swaps settle against automated market maker pools rather than an order book. The Uniswap (UNI) price dipped below $7 early on Thursday after briefly recovering above the level earlier in the week, and our live reading puts the token at $7.03, down 1.9% over the past 24 hours, with a market cap near $4.41 billion. Uniswap (UNI) remains in the grip of a month-long slide from its $10.22 peak on September 22, so the wallet spike is the first multi-year reading in on-chain activity since the correction began. The analytics firm tied the burst to recent protocol work: Uniswap launched Aggregator Hooks on October 22, pulling seven external liquidity sources across three networks, and Unichain, its layer-2 network, moves to OP Enterprise on Thursday. Whether the fresh wallets turn into lasting demand is the question the tape now has to answer.

@SantimentData · X post

Santiment's on-chain data.

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Resistance at $7.37, Thin Support Below

The structure around $7 is thin, and our composite support and resistance scoring, the same framework that powers our UNI technical analysis, shows it. The nearest resistance sits at $7.37, scored 67 out of 100 where the 20-day and 50-day moving averages converge with the prior day's high; the support directly under the spot price, at $6.99, carries a score of just 31 out of 100. Positioning leans the wrong way for a breakdown: the long/short account ratio stands at 2.44, with 71% of accounts held long and open interest near $291 million. The broader trend gauge still reads a downtrend, so the scores need a hold above $6.99 to argue otherwise.

A $5 Floor Under the $18 Setup

The caution starts with the metric itself: the active-address count only records wallets that sent or received the Uniswap (UNI) token during the day, so the surge can capture exchange transfers and wallet reshuffles as easily as genuinely new holders. The same-day figure of 13,137 is therefore an upper bound on new holders, not an exact tally of them. The levels laid out alongside the figures point both ways. Holding $7 while activity stays elevated keeps $8 within reach, with $7.50 as the first confirmation of stronger momentum; a collapse in activity alongside a lost $7 would point to a spike that never converted into demand. A longer arc sits underneath. In a post published on October 26, analyst DonWedge notes that UNI broke out of a falling wedge in June and ran from $2.60 to $10.90 before this autumn's pullback. He places long-term support in the $5 to $6.60 band, a zone the market lost in January and reclaimed in September, and the token now sits just above the top of it. Holding that band keeps his $18 target alive, while a weekly close below $5 voids the setup outright. His post predates the wallet spike by three days, so the band does not yet price in the surge, and his setup reads time in weekly closes, not daily swings around $7. The next few days of active-address readings decide which story holds: wallets that keep transacting underwrite the push toward $7.50 and $8, while a fading count hands the tape back to the long-term band. As of the live reading, UNI trades between the thin $6.99 support and the $7.37 resistance, with the $7 line running through the middle; holding that line while the new wallets keep transacting is what keeps the move alive.

@DonWedge · X post

Post published on October 26.

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