Bitcoin

Read

Uniswap, one of the leading decentralized exchanges, introduced a 0.15% transaction fee to its users with its latest update.
After this fee update, there has been a drop of more than 5% in the UNI price in the last few days.
UNI, which shot up to $4.27 with the fake Bitcoin spot ETF news, is at $3.92 at the time of writing, despite the decline it experienced.
At this point, evaluating the price drop in UNI and onchain mobility, Santiment pointed out that despite the falling UNI price, UNI's onchain activity, especially address activity, has increased rapidly in the last few days.
Stating that many investors sold UNI after transaction fees, Santiment said that this situation created FUD for UNI.
<blockquote>
 “Uniswap onchain activity, especially address activity, has increased rapidly in the last few days.
 With the introduction of transaction fees on the network, many people are abandoning the asset and creating FUD.
 At this point, Uniswap's introduction of the transaction fee leads to speculation in the direction of 'sell the news' in terms of the UNI price.”
</blockquote>
Stating that despite the falling price of UNI, the increasing on-chain activity, especially Active Addresses and Network Growth, is noteworthy, Santiment said, “This difference shows that interest is increasing despite the downward trend in price.” said.
According to Santiment, although the falling price and increasing chain activity indicate that short-term UNI investors are at a loss, this difference points to positive market trends for UNI.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f984.png" alt="🦄" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Uniswap</a>'s <a href="https://twitter.com/hashtag/onchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#onchain</a> activity, particularly address activity, has grown quickly in the past couple of days. With the introduction of fees to the network, many are dumping the asset and creating <a href="https://twitter.com/hashtag/FUD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FUD</a>. Read our quick insight on what to expect from <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$UNI</a>. <a href="https://t.co/DP5UuqzGKg" rel="noopener noreferrer nofollow">https://t.co/DP5UuqzGKg</a> <a href="https://t.co/MU4VcE7Tlp" rel="noopener noreferrer nofollow">pic.twitter.com/MU4VcE7Tlp</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1714862957375762931?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 19, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a rel="noopener noreferrer nofollow" href="https://en.bitcoinsistemi.com/santiment-draws-attention-to-this-altcoin-despite-the-falling-price-interest-is-increasing/">Santiment Draws Attention to This Altcoin! "Despite the Falling Price, Interest Is Increasing!"</a>

Santiment Draws Attention to This Altcoin! "Despite the Falling Price, Interest Is Increasing!"

Bitcoin Sistemi EN

Other articles published on Oct 19, 2023

Thousands of Bitcoin Withdrawn from Exchanges: Could This Move Signal an Upward Trend Soon?

SEC Surrenders, Drops Charges Against Ripple Execs

Morgan Stanley says crypto winter may be over

France Introduced a New Crypto Gaming Law

Aptos resumes after 5-hour outage affecting transactions

Bitcoin Price Enjoying Highs After Adding 6%; Can Retest 30K

Join our free newsletter for daily crypto updates!