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Uniswap raises funding of $165 million, but will it help UNI go up

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In a recent development, Uniswap announced that they raised $165 million in their Series B funding round, led by the investment firm Polychain Capital.

This news was followed by a subsequent spike in Uniswap’s social media engagements. A hike in development activity was also witnessed.

Here’s AMBCrypto’s 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 appears that UNI’s team already started putting its investors’ money to use. As can be seen from the image below, there was a huge spike observed in terms of development activity over the past week.

This could indicate that new updates and upgrades on the Uniswap network may be on the way.

This in turn affected Uniswap’s network growth, which was declining since 9 October, but it has grown over the past few days. It implies that the number of new addresses that transferred a UNI token for the first time witnessed a spike. 

Source: Santiment

Furthermore, according to LunarCrush, a social media analytics company, the number of social media mentions for Uniswap grew by an astonishing 155% over the last week, and its number of engagements increased by 13.97%

Even though there was a rise observed when it came to the aforementioned metrics, the spike did not have that much of an impact on Uniswap’s DeFi progress.

As can be seen from the image below, Uniswap’s TVL moved sideways pretty much throughout the past two months. It remains to be seen whether the new round of funding could help improve Uniswap’s growth.

Source: DeFiLama

That being said, the daily fees paid by users on the Uniswap platform declined over the past week and depreciated by ​​56.8% over the last seven days, according to token terminal.

Along with that, the number of active users on the network witnessed a plunge of 45.8% over the last 30 days.

Source: token terminal

Much to the surprise of investors, UNI’s price showed tremendous growth over the past 24 hours. It appreciated by 11.95%. Its volume grew by 192.46%, according to CoinMarketCap.


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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