DeFi Giant’s v4 Move: New Addresses Double While Price Rises 19%
As the Uniswap v4 fee switch goes live, the UNI price has risen by 19 percent, while the increase in user activity on the network and the number of new addresses indicate that the project has entered a genuine adoption phase.
The decentralized finance giant Uniswap activated its long-awaited fee switch feature with the v4 version as of July 29. With this development, the buy-and-burn mechanism, aimed at benefiting UNI holders with a portion of the revenue generated on the platform, also came to life. Following the news, the UNI price rose from $3.83 to the $4.54 range between July 29-31, experiencing a 19% gain in value.
However, the truly remarkable story lies beyond the price chart, hidden in the on-chain data. According to Santiment data, although the price made a slight correction toward the $4.07 level, network activity did not slow down. The number of new addresses, which averaged between 250 and 320 daily throughout July, doubled its baseline, skyrocketing to 510 on July 30 and 582 on July 31.
July Record Broken in On-Chain Metrics
The number of active addresses on the network gained similar momentum, reaching 2,341 on July 30 and 2,457 the following day. These figures far exceeded the normal range of 1,300-1,700 seen throughout July, representing the monthly peak. Additionally, whale transactions of $100,000 and above reached 142 on July 30, marking the second busiest day of the month. The reaction of large investors to this structural change directly aligns with the increase in the network’s usage rate.
The fact that on-chain data remained high even as the price began to cool off proves that this rally is not a one-day speculation but a lasting adoption signal. This structural change brought by Uniswap (UNI) v4 strengthens the token’s value capture mechanism while elevating user interest in the platform to a sustainable level. Two consecutive days of high activity demonstrate that the network is growing not just in price, but in its utility capacity as well.