Uniswap (UNI) is beginning to break out strongly after a long period of being stagnant in a sideways range. The withdrawal of $25 million from whale wallets, along with a noticeable increase in wallet activity and the number of users, is contributing to solid bullish foundations. UNI's breakthrough of the important resistance threshold is not only a positive technical signal but also opens up the potential for double growth if the current trend is maintained.
Whale wallets withdraw from exchanges – a positive signal
One of the strongest signals of confidence in Uniswap comes from the activity of whale wallets. On July 14, a new wallet withdrew 2.78 million UNI from Binance, worth approximately $25.52 million – according to data from Onchain Lens. The act of withdrawing a large amount of tokens from the exchange often indicates that the owner has no intention of selling in the short term – a familiar bullish signal among investors.
Notably, this wallet also withdrew $3.5 million worth of Compound (COMP) tokens just a few days prior, indicating that this is not a one-off action but a calculated accumulation strategy focused on key DeFi assets. As the circulating supply of UNI on exchanges decreases, the selling pressure also weakens – facilitating price increases.
The fact that whale wallets are quietly accumulating often serves as an early indicator of a strong recovery, despite the overall market trend.
The number of Uniswap users is increasing again
Another notable bullish signal comes from network activity. According to data from Santiment, the number of daily active addresses on Uniswap has surpassed 2,300 – the highest level since early June. Although it has not yet reached the peak established in December 2024, the price surge of UNI is reinforcing investor confidence that the wave of new users could be a catalyst helping UNI approach the $20 mark.
The active address index reflects the number of wallets participating in sending or receiving tokens in one day. When this index rises sharply, it is often a sign that cash flow and interest in the network are increasing – a factor that has often paved the way for significant price movements of UNI.
The number of wallets holding UNI long-term is also increasing
Not only active in daily activities, Uniswap (UNI) is also recording a strong upward trend in the number of long-term investors. As of now, the number of wallets holding UNI has surpassed 375,000 – a significant jump from the 352,000 at the end of March.
This growth trend, clearly illustrated by data from Santiment, shows that accumulation behavior is occurring strongly within the investor community. The more wallets that hold UNI without selling, the more solid support the price of UNI will have – especially as the market enters correction phases.
TVL rises sharply – a solid foundation for UNI
The total value locked (TVL) in the Uniswap (Unichain) ecosystem has seen explosive growth, rising from below $200 million in February to over $1 billion in July, according to data from DeFiLlama. In less than 6 months, the TVL of this platform has increased fivefold — a clear testament to the growing attraction of Uniswap.
TVL is a measure of the amount of cryptocurrency locked in the smart contracts of the protocol. When TVL increases, it not only reflects growing confidence from the community but also creates a solid foundation for the recovery and growth of the UNI token.
UNI price breakout: What lies ahead?
After months of being restrained within a descending wedge pattern, UNI has finally broken out successfully – an important signal indicating that the upward trend is gradually regaining an advantage. Although it officially broke out just yesterday, the price of UNI has shown a clear recovery trend since exceeding the $7.5 mark, while also conquering a series of important resistance levels.
Currently, UNI is trading around $9.53, after breaking through the strong resistance area at $8.96. The next notable price level is $9.79 – corresponding to the 1 Fibonacci extension level, determined from the most recent high and low on the daily chart. If it can surpass this threshold, UNI may aim for the next price targets:
$12.17 (Fibonacci extension 1.618)
$16.03 (Fibonacci extension 2.618)
$19.89 and $22.27 (Fibonacci extension 3.618 and 4.236)
These are potential price ranges if the upward momentum continues to be maintained. Specifically, the $19.89 mark will represent a growth of more than 100% compared to the current price – a figure capable of attracting investors' attention.
However, for the upward trend to remain valid, UNI needs to stay above the key support area at $8.13 – the position of the 0.618 Fibonacci retracement level. If the price drops below this threshold, especially accompanied by a decrease in the number of active wallets or total value locked (TVL), the current bullish structure is at risk of being broken.
