Uniswap became one of the top gainers both on Polygon and Avalanche blockchains. The token’s price surged by over 7% last week.
With the hike in the token’s price, its social metrics also increased. For example, positive sentiment around
went up, as evident from the rise in its weighted sentiment. Additionally, its social volume also remained relatively high, reflecting its popularity in the crypto space.Things on the metrics front also looked bullish as its price shot up. UNI’s net deposits on exchanges were compared to the last seven days. During the rally, Uniswap’s supply on exchanges declined while its supply outside of exchanges increased, which is typically bullish. Whale activity around the token has also increased in the last few days.The good days might not end soon as Coinglass revealed another bullish metric. As per the data, Uniswap’s open interest increased. A rise in the metric usually means new money is coming into the market for that option.
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