cryptocurrency market It’s starting to get active these days. Although it has difficulties in maintaining its upward momentum, it does not suffer deep losses. More importantly, corporate interest in the market is increasing. A crypto investment firm is showing special interest in 2 altcoins, analytics platform Lookonchain reported.
These 2 altcoins are targeted by the crypto investment company: UNI and 1INCH
cryptokoin.comAs you follow from , even though the spot Bitcoin ETF rumor turned out to be fake, it brought vitality to the market. In addition, the macroeconomic environment is also showing signs of turning in the market’s favor. In this environment, investment companies have already started making purchases in the market. On-chain analytics platform Lookonchain reported, crypto investment company IOSG Ventures, ‘Binance’from two altcoin collects the tokens of his project. In this context, Lookonchain shared the following:
Which fund is in a bear market? Will you buy the token? A Fund wallet labeled IOSG Ventures by Nansen withdrew 352,242 Uniswap (UNI) ($1.37 million) and 3.95 million 1inch Network (1INCH) ($977 thousand) from Binance in the last 30 minutes.
What token will #Fund buy in a bear market?
A Fund wallet, tagged #IOSG Ventures by Nansen, withdrew 352,242 $UNI(1.37M) and 3.95M #1INCH($977K) from #Binance in the past 30 mins.https://t.co/MlzMFL6BOR pic.twitter.com/fdRfCAhQRc
— Lookonchain (@lookonchain) October 19, 2023
Short-term UNI holders take losses as investors pour in
Altcoin investors have been abandoning the asset since the decentralized finance (Defi) protocol started charging exchange fees. Meanwhile, Uniswap founder Adam Hayden made a statement on October 16. Hayden announced that the protocol will begin charging a 0.15% swap fee to maintain its operations. Both wallet and web users will have to pay this fee to exchange tokens. Moreover, users found a know-your-customer (KYC) verification hook in the public directory of Uniswap V4. Following the introduction of exchange fees and KYC procedure, users are calling the defi protocol “centralized”.
Meanwhile, the altcoin project is also receiving heavy criticism from its users. Experts say, however, that KYC verification is essential for Uniswap’s long-term survival. According to market intelligence platform Santiment, investors have begun to abandon UNI tokens. Santiment states that this situation arose when the platform started charging exchange fees.
🦄 #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 altcoin is developing as an all-in-one DeFi platform
1inch Network (1INCH) token is a comprehensive decentralized finance platform that meets various DeFi needs. He does justice to this and underlines his position. As a result, last week witnessed a significant increase. The network’s suite of protocols, including the 1inch Aggregation Protocol, Liquidity Protocol, and Limit Order Protocol, has become a solution that facilitates efficient trading and liquidity provision for DeFi users. Additionally, the 1INCH token’s utility in governance and staking and the introduction of innovative features such as 1inch Fusion for staking rewards have increased investors’ confidence in the potential of the platform.
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