$UNI Token Surges 37.9% Amid Expanding Trading Activity and Rising Open Interest

Uniswap's $UNI token is experiencing a strong trading phase, with its price momentum accelerating across the daily chart. The token has climbed to around $8.59 after gaining 27.10% over 24 hours and a 37.90% increase over the past seven days. Trading activity has expanded alongside the rally, with daily volume reaching nearly $1.76 billion.

The latest advance also pushed price beyond a key Fibonacci barrier at $7.69. However, traders now face a more important test near $8.92. Uniswap's momentum builds above several major moving averages during its latest advance, supporting the broader upward structure on the daily timeframe.

Rising open interest adds market activity as $UNI's derivatives market has become considerably more active during the recent recovery. Open interest fell toward roughly $150 million in late May but recovered through June and July as $UNI strengthened. It eventually moved above $700 million during the late-July peak, before reversing as the token weakened through August.

The latest reading places OI near $621.26 million, indicating that traders have rebuilt derivatives positions around $UNI. Spot flows turn more constructive as net inflows gained greater prominence as $UNI extended its rally. However, alternating inflows and outflows still suggest that demand remains uneven.