Holder retention is the real test after the incentive cycle ends

Glassnode’s UNI holder-retention chart tracks retained, new, resurrected, and churned holders, alongside UNI price, from 2022 to 2025.

This way, Web3 retention should be measured as repeat behavior and capital kept, not just wallet counts.

Data source: Glassnode
Related read: From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention