Uniswap continues to showcase bullish momentum, as demonstrated by rising capital inflows, key liquidity and derivatives metrics, and sustained bullish positioning across the UNI market.

Market Performance

Despite doubts on the clearing of liquidity clusters below current price levels, the rally persists, with UNI potentially set to extend gains towards the $4.18 region, but downside risks remain present if sentiment shifts bearish.

On-Chain Activity

Uniswap extended its bullish momentum after posting double-digit gains and climbing above $3.92 at press time. The rally occurs as on-chain activity across the protocol continues to strengthen, with key liquidity and derivatives metrics aligning to support further upside potential.

Liquidity and Derivatives

However, compact liquidity clusters below current price levels still leave UNI exposed to downside volatility if sentiment weakens. TVL and earnings reflect stronger capital inflows.

Uniswap’s total value locked (TVL) has continued to trend higher, reaching $3.59 billion as of writing, its highest level since the 2nd of February. Protocol earnings have also strengthened significantly.

Derivatives Data

Since the 1st of April, Uniswap has generated approximately $4.23 million in quarterly earnings, marking its second-highest quarterly performance on record. Derivatives data showed sustained bullish positioning across the UNI market, with the OI-Weighted Funding Rate rising to 0.0060% over the past 24 hours. Long traders maintain market control.