UNI’s 6-Year Wallet Spike May Not Mean What It Looks Like

Uniswap’s UNI token traded at $6.98, down 2.35% over 24 hours, after briefly recovering above $7 this week and leaving it just below a level Santiment called key. On-chain data showed 13,137 new UNI addresses in one day, the most since September 2020, while daily active addresses reached 14,591, a one-year high. Santiment linked the surge to recent upgrades, including Aggregator Hooks, launched by Uniswap on October 22, and Unichain’s move to OP Enterprise. Because Santiment’s active-address metric counts wallets that sent or received UNI, the spike may include exchange transfers and wallet reshuffles as well as new holders.