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

One of the leading decentralized exchanges Uniswap With its latest update, it introduced a 0.15% transaction fee to its users.

In the last few days after this fee update UNI There was a decrease in price exceeding 5%.

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, centimeterpointed 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.

“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.”

Santiment stated that despite the falling price of UNI, the increasing on-chain activity, especially Active Addresses and Network Growth, is noteworthy. “This difference shows that interest is increasing despite the downward trend in terms of 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 UNI It indicates positive market trends.

🦄 #Uniswap‘s #onchain 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 assets and creating #FUD. Read our quick insight on what to expect from $UNI. https://t.co/DP5UuqzGKg pic.twitter.com/MU4VcE7Tlp

— Santiment (@santimentfeed) October 19, 2023

*This is not investment advice.