Journalist
Posted:
- Uniswap has announced the final launch of the Android version of its mobile wallet app.
- UNI continued to enjoy market-wide accumulation.
Leading decentralized exchange (DEX) Uniswap [UNI] has launched its Android mobile wallet app, bringing built-in trading capability to Android users around the world.
Say hello to Uniswap on Android. pic.twitter.com/AmybYVhZWa
— Uniswap Labs 🦄 (@Uniswap) November 14, 2023
This release comes a few months after the platform announced a closed beta for this and the release of an iOS version.
In the beta announcement Created in April, Uniswap noted that the wallet app would allow its users to exchange tokens on multiple chains without switching networks. This included Ethereum [ETH]Polygon [MATIC]Optimism [OP]Arbitrum [ARB]Basic and BNBChain [BNB].
Also, the wallet app can automatically detect which network a coin is on and switch to that network without the user asking.
Uniswap since the mobile wallet app went live
Uniswap users completed the majority of their transactions through a web-based application before the launch of the iOS version of the mobile wallet in April.
After this release in April, Uniswap witnessed a remarkable increase in demand. According to data obtained from Token terminalthe DEX saw monthly active users increase by 31% between April and August.
However, this demand lost momentum in September, when Uniswap recorded a 24% decline in active users month-on-month. Even after the closed beta for the Android version of the mobile wallet app was announced in October, Uniswap saw only 0.377% in monthly demand.
So far this month, data from Token Terminal shows that DEX has amassed a total of 307,000 active users, marking a 15% increase from October’s count – growth achieved in just two weeks.
Regarding Uniswap’s transaction fees, AMBCrypto noted that after a brief rally in May, it has been on a downward trend since then. The protocol’s network fees totaled $33 million in October, a 55% decline from the $74 million in transaction fees recorded in May.
Source: Token terminal
Realistic or not, here it is UNI’s market cap in terms of ETH
The bulls have kept UNI bears at bay
AMBCrypto further found that UNI was exchanging hands for $5.22 at the time of writing, according to data from CoinMarketCap. A review of the token’s price trend on a 24-hour chart confirmed that the bulls have continued to maintain the buying momentum.
Furthermore, UNI’s Relative Strength Index (RSI) stood at 62.92, while the Money Flow Index (MFI) stood at 63.70. Similarly, the Chaikin Money Flow (CMF) of 0.27 reflected the steady inflow of liquidity into the UNI spot market.
Source: UNI/USDT on TradingView