Uniswap's UNI token is consolidating around $9.9 after a significant 97% rally earlier this summer. Currently trading at $9.77, UNI has seen a 0.62% increase in the past 24 hours with a trading volume of $192.5 million. The token's decentralization is increasing as short-term holders accumulate, while the share of the top 100 addresses declines. The rising Metcalfe Ratio, which measures market capitalization against active addresses, indicates a need to monitor user adoption relative to market valuation. Analysts suggest that reclaiming the $11 mark could lead to further price momentum, as the market remains in a consolidation phase with participants watching for shifts in valuation and network activity.