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Super bullish: Ethereum adresses with >1 ETH reaches ATH and Uniswap raises $165M in new funding

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14
Oct
  • Ethereum addresses holding at least 1 ETH hits a new high of 1.589 million.
  • Uniswap realizes $165 million from its latest series b funding, led by Polygon Capital.

According to the on-chain crypto market intelligence platform, Glassnode, the number of addresses holding at least one ETH has reached a new peak. Glassnode revealed via Twitter that this number is now 1,588,633. It is worth noting that as of June 2022, this number of ETH addresses was at about 1.485 million, a new record at that time.

Uniswap’s $165 million funding

Today, Ethereum decentralized exchange, Uniswap, announced that it realized $165 million from its latest fundraising efforts. It is an open secret that retail investors have been scared of investing in the crypto market because of the current bearishness in the market. In contrast, venture capitalists aren’t scared and always seeking DeFi projects they can back.

While Polygon capital led the series b funding round, it was joined by a16z crypto, Variant, SV Angel, and Paradigm. In his post announcing the amount realized from the fundraising event, Uniswap founder Hayden Adams admitted that he was surprised and excited by the amount realized.

Last month, startup and tech news platform, TechCrunch, predicted that Uniswap could realize up to $200 million from this fundraiser. Its prediction was based on the in-progress round at that time with Polychain and Sovereign Investment Fund (a Singapore-based fund) tied to the deal. Uniswap’s total valuation after this fundraising round is $1.6 billion.

Speaking further, Adams said his goal of building the Uniswap protocol four years ago was to have a protocol that fully embodies the ethos of Ethereum – transparent, accessible, and secure. As a decentralized exchange, Uniswap allows direct crypto trading among traders without the intervention of any intermediary. Since it is built on Ethereum, Uniswap enables users to exchange their ERC-20 tokens.

DEXs are becoming a popular option among traders seeking to have more privacy when trading. However, these exchanges are also a big target for cybercriminals. Three months ago, a cybercriminal targeted Uniswap users with a phishing scam and made away with $8 million in funds.

Earlier this month, another DEX, transit swap, lost $23 million to hackers. Recently, the Uniswap governance community voted for the creation of the platform’s foundation. The foundation will support the development of the protocol with grants.

Adams commented on the foundation’s launch, saying it proves the community’s unwavering support for the protocol. The foundation has announced a grant of $60 million to support various Uniswap projects over the next five years.

The Uniswap founder also said Uniswap had supported $1.2 trillion worth of trading volume since its launch in 2018, indicating a sign of enormous growth and evolution. Adams appreciated the Uniswap team, community, users, and investors. He added that he is excited about what the future holds for the platform.

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