In a recent development, Uniswap announced they have raised $165 million in their Series B financing round, led by the investment company Polychain Capital.
This news was followed by another spike in Uniswap’s social media engagements. There was also an increase in development activity.
Here are AMBCryptos Price prediction for Uniswap for 2022-2023
After the money was raised, Uniswap was valued at $1.66 billion. Although the round was led by Polychain Capital, Uniswap’s long-term investors, a16z crypto, Paradigm, SV Angel and Variant also participated in the new round.
It seems that UNI’s team has already started using its investors’ money. As can be seen in the image below, there was a huge spike in development activity in the past week.
This could indicate that new updates and upgrades to the Uniswap network are on the way.
This in turn impacted Uniswap’s network growth, which has slowed since October 9, but has grown in recent days. It means that the number of new addresses that transferred a UNI token for the first time peaked.
Furthermore, according to LunarCrusha social media analytics company, Uniswap’s social media mentions grew a staggering 155% over the past week and engagements grew 13.97%
While a surge was seen when it came to the aforementioned stats, the spike didn’t impact Uniswap’s DeFi progress that much.
As can be seen in the image below, Uniswap‘s TVL has moved pretty much sideways over the past two months. It remains to be seen whether the new funding round can help improve Uniswap’s growth.
That said, the daily fees paid by users on the Uniswap platform have fallen over the past week, depreciating 56.8% over the past seven days, according to token terminal.
In addition, the number of active users on the network witnessed a 45.8% decline over the last 30 days.
Much to the surprise of investors UNI‘s price has grown tremendously in the past 24 hours. It appreciated by 11.95%. Volume grew 192.46%, according to CoinMarketCap.
This post Uniswap raises $165 million, but will it help UNI move up?
was published first on https://ambcrypto.com/uniswap-raises-funding-of-165-million-but-will-it-help-uni-go-up/