Can Uniswap (UNI) Surge Higher amid GitHub Submissions?

Decentralized Finance (DeFi) revolutionized the world of finance. Strangers using the internet can now use decentralized exchanges to access financial services without third parties. Uniswap remains the dominant entity within the DeFi marketplace, its protocols boasting liquidity worth $7 billion.

The Leading Lane

Recent metrics show that the more than 1,400 GitHub submissions each day, Uniswap (UNI) dominates the industry, with its development activity continuing to surge. The surging development activity metric is a lucrative signal for any crypto project. It shows investors’ confidence in the project’s success.

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Also, the development activity uptick shows the project includes more features and is unlikely to be an exit scam. However, you may want to know hints from other metrics.

Social Dominance

Evaluating Uniswap’s social media mentions on cryptocurrency-related topics, compared to more than 50 others, indicates a drop in UNI’s social dominance. The metric has resorted to downtrends since attaining the 26% high on September 18, 2020. While publishing this content, it hovered at $0.964%, reflecting a 96% plunge within two years.

The token’s social volume also showed a similar progression. Hovering at 161 during this publication, it lost more than 97^since touching the 5628 peaks in September 2020.

The Exchanges Front

While writing these lines, Active Deposits stand at one, following the record peak of six on April 26. Keep in mind that increased Active Deposits indicate surged near-term selling momentum.

April saw a substantial low metric for UNI’s Active Deposits, recording the highest figure of 18 on April 8. Also, Active Withdrawals for Uniswap hovered at seven during this publication, with the 45 high seen on April 22.

Moreover, April 2 noted a surge in near-term distribution as UNI’s Exchange Inflow touched the 284.2K highs. While writing these lines, it stood at 4033. Exchange Outflow was around 398 at the same time.

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Whale Activity

UNI whale transfers above 100K have this month’s highest at 32, recorded on April 6. The figure was at three during this publication. This month’s peak is six for transactions worth over $1 million, seen on April 8. At three now, the month hasn’t been impressive for this metric.

Meanwhile, UNI traded at $8.24 at this publication, dropping more than 5% within the past day. Price charts show Uniswap saw surged bearish activity in April.