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Uniswap’s daily active addresses reached 14,591, the highest level in a year, while 13,137 new UNI addresses were created over the same period — the largest spike in network growth since September 2020, according to Santiment data cited by AMBCrypto. That adoption data landed as the token itself stayed flat near $7, and the divergence between network usage and derivatives activity is the core of the story.
AMBCrypto reported that UNI traded at $7.04 at press time, down 2.0% in 24 hours, while holding a 24.8% gain year to date.
Also read: Uniswap v4 Tops $44B in 30-Day Volume, 49.9% of Protocol Trades
Key facts
- Uniswap daily active addresses hit 14,591 and new address creation reached 13,137, per Santiment’s analysis.
- UNI changed hands at $7.04, down 2.0% over 24 hours but up 24.8% year to date.
- Uniswap generated about $6.112 billion in cumulative fees, including nearly $89 million in the past 30 days, according to DeFiLlama.
- Total open interest fell from September’s peak of over $600 million to roughly $350 million by October 29, 2026.
- Network realized profit/loss ended near 17.5, close to its baseline.
Protocol upgrades behind the usage surge
AMBCrypto tied the rise in activity to several development threads rather than a single event. Aggregator Hooks are built to route external liquidity through Uniswap v4, which can change how traders reach liquidity held on other platforms. VolatilePair Hooks give the protocol more room to manage pricing on volatile trading pairs, and Unichain’s planned OP Enterprise upgrade on October 29 was another step for the chain Uniswap operates.
The fee data behind that activity is substantial. DeFiLlama figures put cumulative fees at roughly $6.112 billion, with close to $89 million collected in the last 30 days, a pace that places Uniswap ahead of Hyperliquid, Aave and Morpho in the comparison AMBCrypto cited. Uniswap has also added $7.7 billion in year-to-date trading volume in tokenized stocks, a line of business beyond ordinary crypto swaps.
Derivatives cool while spot usage climbs
The picture is less uniform in derivatives markets. Open interest fell sharply from September’s peak of over $600 million to about $350 million by October 29, which AMBCrypto read as less leveraged trading and softer speculative demand for UNI. Realized profit/loss hovering around 17.5 suggests muted positioning compared with earlier spikes.
On the token side, $7 has acted as support and $7.50 as the next resistance zone. A sustained move above $7.50 would strengthen the case for a recovery toward $8, while a break below $7, particularly if network activity fades, would point to the adoption spike being short-lived. The market’s own answer, as of the report, was no decisive move in either direction.
One offsetting signal: AMBCrypto recently reported large exchange withdrawals after a Galaxy Digital-linked wallet moved roughly $12 million in tokens over six days, which raised the possibility of institutional accumulation.
Why it matters
Uniswap is one of the largest decentralized exchange venues, so sustained growth in its user base is a barometer for activity across DeFi more broadly. The current setup matters because spot usage and leveraged positioning are moving in opposite directions — a pattern that can leave price action flat even when the underlying protocol is busier than it has been all year. For holders, it means fee generation and user growth alone have not been enough to lift UNI out of its recent range.
What to watch
Watch whether UNI closes above $7.50 or loses $7, and whether daily active addresses keep climbing from the 14,591 mark. Open interest rebuilding toward September’s level would confirm the return of leveraged demand. This is not financial advice, and crypto markets are volatile and uncertain.
Reported by AMBCrypto.
Source: AMBCrypto