Uniswap Price Surges 20% as Whale Activity and Network Growth Boost Momentum

Uniswap (UNI) has shown signs of strength after a period of sideways movement, with a recent $25 million whale withdrawal and increasing wallet activity and user growth building a bullish base. The Uniswap price has crossed a major resistance, setting the stage for a potential 100% rally if momentum holds.

One of the strongest signs of confidence is whale activity. On July 14, a new wallet withdrew 2.78 million UNI (worth $25.52 million) from Binance. Typically, large withdrawals from exchanges mean the wallet holder doesn’t plan to sell anytime soon, often a bullish sign. This same wallet also withdrew $3.5 million worth of Compound (COMP) days earlier, suggesting strategic accumulation of DeFi tokens. With less UNI available for selling, the supply pressure on the UNI price may ease. Whale wallets gobbling up token supply is often a bullish sign, regardless of the market direction.

Another bullish clue lies in the network activity. Active addresses on Uniswap have risen to over 2,300 daily, the highest since early June. The price breaking out gives confidence to users who believe that a surge in active addresses can further push the UNI price towards $20+ levels. Active addresses count the number of wallets that are sending or receiving tokens in a single day. When this number grows, it means more people are using the network, which often comes before major Uniswap price action.

Not just daily activity, even the long-term holders are growing. The total number of wallets holding UNI has now crossed 375,000, up from 352,000 in late March. This sharp jump reflects strong accumulation behavior. The more wallets that hold and don’t sell, the more support it adds to the UNI price on any dips.

Total Value Locked (TVL) in the Uniswap ecosystem has grown from under $200 million in February to over $1 billion in July. TVL measures how much crypto is locked in Uniswap’s smart contracts. Higher TVL means more trust in the protocol and a stronger base for the UNI token to grow.

The Uniswap price has finally broken above a falling wedge that’s been holding it down for months. While the wedge was broken only yesterday, the UNI price has been uptrending since it crossed the $7.5 mark, clearing key resistances in the process. After clearing the $8.96 resistance, UNI now trades around $9.53. The next key level is $9.79, the 1.0 Fibonacci extension drawn from the previous high and low on the daily chart. Once that’s broken, upside targets sit at $12.17, $16.03, $19.89 and $22.27. These levels represent possible upside zones if momentum continues. From the current level, a rally to $19.89 would mean over 100% upside. But the invalidation level remains at $8.13, where the 0.618 Fibonacci level rests. A drop below that, paired with falling active addresses or TVL, would break this rally structure.