trade now
(BTC) Bitcoin News TodayAltcoinCryptocurrencyCryptocurrency TrendsDeFiNewsNFTPrice AnalysisUniswap (UNI)

Uniswap (UNI): Social Front Developments May Have This Effect on Holders

  • Uniswap recorded upticks in social mentions.
  • Also, UNI’s weighted sentiment index soared.
  • Nevertheless, its daily active addresses and network growth plunged.

New Lunar Crush updates show Uniswap’s social mentions hit an ATH. The impressive surge came after the project’s increased focus on DEXs, following FTX’s fall. However, a question lingers, could there be more than the eye can see?

A Notable Thing

UNI’s recent developments within the NFT sector could have contributed to the asset’s social mentions surge. Also, Uniswap retained a positive weighted sentiment within the past few days. And the crypto community maintained a favorable stance towards the decentralized exchange.

Though Uniswap has capitalized on investor interest, the alt needs improvements on other fronts. Dune’s chat shows Uniswap exhibited high-order flow toxicity. Toxic flow is when the asset’s market price in the future is worse than the execution price after considering fees & price effect.

That means it could be challenging for retailers to generate significant returns from Uniswap’s liquidity pools. Despite that, Uniswap’s revenue surged 64.82% within the past 30 days (Messari data). Also, the project noted increments in transactions – a 66% surge in that timeframe.

📰  Russian Ministry Of Finance Makes Fresh Move To Tax Crypto Miners

UNI Metrics Dip

Nevertheless, the DEX noted continued declines in network growth, suggesting a reduction in new addresses transacting UNI for the 1st time over the past week. Moreover, the 24hr active addresses decline (Santiment data).

That saw Uniswap’s activity plummeting over the last week. However, Uniswap leads all DEXes as far as market share is concerned. Dune stats shows Uniswap accounted for about 53.6% of decentralized exchanges’ volume. UNI traded at $5.38 during this publication.

The altcoin plunged by 3.11% within the past day (Coinmarketcap data). Also, its volume depreciated by about 34.32% in that timeframe. Also, Uniswap holders should assess the broad market cues and Bitcoin’s movements for profitable decisions.

The crypto space attempted revivals following the recent crash. Nevertheless, bears still dominated the industry. Bitcoin remains weak at the $16K vicinity, changing hands at $16,539 during this publication. Only time will confirm future expectations.

Stay tuned for the latest cryptocurrency news.

📰  Magic Eden Addresses Pornographic Display Situation; Blames Third-party Breach

Tokenhell.com produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: info@tokenhell.com. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  White House Calls on Congress To Improve Crypto Regulatory Efforts

Kevin Harper

Kevin Harper is a new journalist on Tokenhell. His content focuses on blockchain, platform reviews, and cryptocurrency news. Stay tuned for his latest and intriguing technological updates.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content