While some holders were letting go of UNI, others contributed to the milestone amid diverging conditions.
However, this significant achievement comes amidst a backdrop of declining holder count, raising questions about the factors driving transactional volume on the network.
According to Santiment, UNI’s total number of holders fell from 370,000 on 28 May. And at press time, it was 354,000. The decrease in holder count suggests that faith in the long-term value of UNI could be waning. Hence, some holders deemed it fit to let go of some of the tokens. At the same time, the decrease in the number of active holders could be linked to the token’s 30-day performance which yielded a 17% hike. So, dropping some UNI could mean holders made gains amid increased trading activity.that Uniswap had lost a ton of its sales volume. At the time of writing, the NFT trade volume was down to $332,000. This suggests that interest in trading Uniswap-linked collectibles did not improve.
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