Despite Uniswap’s impeccable social performance, UNI’s rally may be in question

ambcrypto.com:

Uniswap [UNI] witnessed some massive growth in terms of social activity in the past few weeks, according to the social media analytics firmLunarCrush. Additionally, Uniswap also witnessed a spike in development activity. 

LunarCrush tweeted on 2 October that Uniswap was the “coin of the day” indicating that it had outperformed other cryptocurrencies on the social front. Furthermore, Uniswap’s social mentions had increased by 59.09% over the last week. Its social engagements and contributors also grew by 51.51% and 33.92% respectively.

 As can be seen from the image below, the weighted sentiment for the Uniswap token was also positive, especially from 28 September till 30 September. However, the sentiment took a sharp dip from the 1 October, suggesting that the public sentiment around UNI had changed.

Source: Santiment

Although the sentiment for Uniswap on the social front wasn’t impressive at the time of press there was another development for potential investors. Uniswap’s development activity witnessed a surge over the last week. Since 29 September, Uniswap’s development activity witnessed a massive spike and continued to stay the same throughout the week.

One of the reasons for the spike in development activity could be Uniswap’s Swap widget update. The constant updates and upgrades that were made on Uniswap could thus, be perceived as a bullish sign.

Source: Santiment

Despite the nature ofUniswap’s new updates, they haven’t done much for the protocol’s TVL. This can also be observed from the chart below. The overall TVL maintained a similar level as was witnessed throughout September. At press time the Uniswap’s TVL stood at 5.16 billion.

Source: DeFiLlama

Even though users hadn’t been showing much interest in Uniswap’s DeFi