UNI Rallies As Uniswap’s Active Addresses Hit 19- Month High, Here’s Why

Amid the crypto market bounce back this week, altcoins have been showing strength with big gains. One altcoin that stands out is UNI, the native cryptocurrency of Ethereum-based decentralized exchange (DEX) Uniswap.

On Wednesday, the UNI price jumped by 6% after the successful launch of its new NFT Aggregator. Additionally, the Uniswap active address and network growth has touched a 19-month high to levels last seen on May 4, 2021. On-chain data provider Santiment reports:

Uniswap’s new #NFT aggregator, which lets traders swap NFT’s across major marketplaces, has launched with a bang. The 17th ranked asset is +6% today, and had ~8,000 active addresses & 3,180 new $UNI addresses created for the 1st time in 19 months.

Courtesy: Santiment

Uniswap NFT Aggregator

On Wednesday, November 30, decentralized exchange (DEX) Uniswap announced the launch of its NFT aggregator which received a strong response from the industry. This NFT aggregator will allow traders to trade their NFT easily and swiftly across marketplaces.

While the market for non-fungible tokens (NFTs) is on a decline with the crypto winter of this year, big players continue to make a move in the space citing potentially bright future.

Using Uniswap’s NFT aggregator, users will be able to see NFT listings on some of the. top marketplaces such as OpenSea, LooksRare, NFTX, and others, simultaneously. Additionally, users will also be able to decide different pricing across the board to get the best pricing deal for their purchases. In the announcement, Uniswap said:

Our latest Universal Router smart contract can save you up to 15% on gas costs compared to other NFT aggregators, saving our users tens of thousands of gas units over other marketplaces.

The launch of Uniswap aggregator comes five months after it acquired NFT aggregator Genie earlier this year. As a result, Uniswap has decided to airdrop approximately $5M USDC to historical genie users. This is a major move by a decentralized player in the NFT market.

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