In a recent development, Uniswap announced they have raised $165 million in their Series B funding round, led by investment firm Capital Polychain.
This news was followed by a subsequent spike in Uniswap’s commitments on social networks. An increase in development activities was also observed.
Meet AMBCrypto Price prediction for Uniswap for 2022-2023
After the fundraising, Uniswap was valued at $1.66 billion. Although the round was led by Polychain Capital, long-term investors in Uniswap, a16z encryption, Paradigm, Angel S.V. and Variant also participated in the new cycle.
It looks like the UNI team has already started using their investors’ money. As can be seen in the image below, there has been a huge spike in development activity over the past week.
This could indicate that new updates and upgrades to the Uniswap network might be on the way.
This in turn affected Uniswap’s network growth, which had been declining since October 9, but has been increasing in recent days. This implies that the number of new addresses that transferred a UNI token for the first time has spiked.
Moreover, according to Lunar Crusha social media analytics company, the number of social media mentions for Uniswap has increased by 155% in the past week, and its number of engagements has increased by 13.97%
Even though there has been an increase seen with regards to the aforementioned metrics, the spike has not had much of an impact on Uniswap’s DeFi progress.
As can be seen in the image below, UniswapTVL has moved sideways over the past two months. It remains to be seen whether the new funding round could help improve Uniswap’s growth.
That said, daily fees paid by users on the Uniswap platform have declined over the past week and depreciated by 56.8% over the past seven days, according to token terminal.
At the same time, the number of active users on the network saw a drop of 45.8% during the the last 30 days.
To the surprise of investors, UnitedThe price of has shown phenomenal growth in the last 24 hours. It appreciated by 11.95%. Its volume increased by 192.46%, according to CoinMarketCap.