Uniswap

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Uniswap [UNI] experienced a FOMO-induced price correction on June 10th.</li>
 <li>Bitcoin [BTC] also saw a significant decline, impacting the broader cryptocurrency market.</li>
</ul>
<p>Uniswap’s price trend on June 10th triggered a Fear of Missing Out (FOMO) among investors, leading to a price correction. This correction appears to be ongoing, but it may not be solely due to FOMO.</p>
<p>Bitcoin also witnessed a noticeable drop in its price. The trend of Bitcoin usually has an impact on the wider market.</p>
<h2 id="uniswap-and-bitcoin-a-comparison-of-social-metrics">Uniswap and Bitcoin: A Comparison of Social Metrics</h2>
<p>Recent data from Santiment revealed that Uniswap experienced a surge in its social dominance on June 10th. The data showed that UNI was the most significant asset to witness an increase on that day.</p>
<p>The price rise brought substantial attention to UNI, leading to FOMO. However, the increase in price and social dominance was more of a bearish signal than a bullish one, particularly considering the simultaneous decline in <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, which often affects the broader market sentiment.</p>
<p>Bitcoin’s social dominance trend did not show any significant movement during the same period. Despite having a higher social dominance than UNI, Bitcoin’s trend seemed relatively normal. Currently, BTC’s social dominance is around 23%, while UNI’s is approximately 0.5%.</p>
<h2 id="uniswap-and-bitcoin-price-trends">Uniswap and Bitcoin Price Trends</h2>
<p>Uniswap’s daily price showed a 5% increase on June 10th, from roughly $9.80 to $10.30. However, this gain and more have since been erased. Uniswap is currently trading at around $9.40, reflecting a decline of over 8%. This drop has pushed Uniswap into a bear trend.</p>
<p><a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s performance showed a 0.2% decline in the last 24 hours, despite the absence of FOMO, unlike UNI. At the time of reporting, Bitcoin was trading at around $69,497. This downward trend has continued, trading with an over 3% decline at around $67,400.</p>

Fearing Missing Out: Uniswap and Bitcoin Navigate Through Market Corrections

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CoinEagle.com

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