Uniswap records 2,295 new UNI wallets in one day, but price remains under $7

The decentralized finance protocol Uniswap recorded, on October 25, 2026, a record influx of 2,295 new addresses holding its UNI token in a single day, according to data from Santiment. Yet, despite this adoption momentum, the asset's price remains stuck below the psychological threshold of 7 dollars, illustrating a persistent gap between network activity and market valuation. Context Uniswap, a pioneer of decentralized exchanges (DEX) operating on the automated market maker (AMM) model, holds a central place in the decentralized finance (DeFi) ecosystem. Its native token, UNI, distributed in 2020 to reward early users, serves as both a governance tool and a store of value within the protocol. For several months, the price of UNI has been under bearish pressure, with a drop of 25.75% over the last thirty days, in a context marked by a rotation of capital toward DeFi protocols offering more attractive annual percentage yields (APY), such as Morpho-Blue or Aerodrome. This situation comes as the deployment of Uniswap v4, announced for the first quarter of 2027, generates expectations. This major update promises to introduce "hooks" – customizable modules allowing developers to adapt pool liquidity rules – as well as strengthened integration with Unichain, the protocol's layer 2 solution. However, the absence of concrete data on the launch schedule or the early adoption of these features currently limits their impact on the market. The Facts On October 25, 2026, the number of addresses holding UNI tokens for the first time reached 2,295, an unprecedented level since November 2022, according to data from the on-chain analysis platform Santiment. This peak in activity coincides with a UNI price of 6.93 dollars, down 3.82% over the last 24 hours and 25.75% over a month, according to figures reported by DiarioBitcoin . The $7 threshold is identified by analysts as a critical support level: a downward break could trigger new sales, with a technical target located between $6 and $6.50, according to observations from the analyst Phoenix cited in the report. The Total Value Locked (TVL) in Uniswap v4 stands at $1.44 billion, up 17% over a month, according to DefiLlama data reported by DiarioBitcoin . However, this growth has not translated into a rise in the price of UNI, highlighting a dissociation between the protocol's economic activity and the valuation of its token. No data was communicated regarding the daily transaction volume on Uniswap, nor on the effective utilization rate of newly created addresses. Santiment specifies that this metric does not necessarily reflect an increase in purchases, but rather an initial interaction with the token. Sources diverge on certain points: while DiarioBitcoin mentions a daily trading volume for Uniswap between $1 and $2 billion, this information is not confirmed by CryptoScore Pro data as of October 25, 2026. Furthermore, the Crypto Fear & Greed Index, which measures investor sentiment, stands at 54 out of 100 (neutral) at the time of publication. Understanding Key Concepts Automated Market Maker (AMM) An Automated Market Maker (AMM) is an algorithm that allows for the exchange of digital assets without relying on a traditional order book, as seen on centralized exchanges. Unlike a classic market, where buyers and sellers meet directly, an AMM uses liquidity pools – asset reserves provided by users – to determine prices based on a mathematical formula. For example, on Uniswap, the price of a token is calculated according to the proportion of the two assets in the pool: if a pool contains 100 ETH and 200,000 USDC, the price of ETH will be 2,000 USDC. This mechanism eliminates the need for an intermediary but exposes liquidity providers to risks such as impermanent loss. Total Value Locked (TVL) Total Value Locked (TVL) represents the sum of assets deposited in a DeFi protocol's smart contracts, expressed in dollars. This indicator reflects the economic activity of a platform: the higher the TVL, the more capital users commit to it, whether to provide liquidity, borrow, or participate in staking mechanisms. For example, a TVL of 1.44 billion dollars for Uniswap v4 means that users have locked this value in assets within its pools. However, TVL should not be confused with the market capitalization of the native token: an increase in TVL does not automatically lead to an appreciation in price, as it also depends on the demand for the token itself. Psychological Threshold A psychological threshold refers to a price level perceived as symbolic by investors, often rounded (such as 7 dollars for UNI). These levels act as mental benchmarks, influencing buying or selling decisions. For example, a price that stays above 7 dollars can reassure buyers, while a downward break can trigger cascade sales due to fear of a continuing trend. These thresholds are particularly monitored in volatile markets, where emotional reactions play a major role. They are not based on economic fundamentals, but their impact on trader behavior is very real. Analysis: what is at stake The main mechanism to consider is the distinction between network activity and the actual demand for the token. The creation of 2,295 new UNI wallets in one day, according to Santiment, measures addresses interacting with the token for the first time. However, such a metric does not reveal how many real buyers are behind these addresses, nor if they are holding their positions. In a market where the supply of UNI is abundant and historical holders may sell, new demand must be significant enough to absorb the selling pressure. As long as the price remains below $7, the signal therefore remains ambiguous. The distinction between locked value and price is also central. According to DefiLlama data cited by the source, Uniswap v4's TVL amounted to approximately $1,440 million after an increase of nearly 17% over one month. This capital, deposited in the protocol's contracts, rewards liquidity providers and…