Uniswap On-Chain Activity Surges Despite Speculation Over Fee Introduction: Data
The post Uniswap On-Chain Activity Surges Despite Speculation Over Fee Introduction: Data appeared on BitcoinEthereumNews.com. The recent introduction of fees by Uniswap sparked speculation about a ‘sell the news’ reaction, a closer examination, however, offers a different perspective. Despite a 5% decline in UNI’s price since the initial announcement, Uniswap’s on-chain activity has grown. According to the latest insight by Santiment, a noticeable disparity is observed in the diminishing UNI price and the increasing on-chain activity. The crypto analytic platform said that the negative MVRV suggests short-term UNI holders are perhaps feeling some pain. But Active Addresses and Network Growth are two metrics that have surged to levels not seen since July this year. Interestingly, this trend has been on the rise despite a downtrend on the price side of things. Uniswap Labs, the organization behind the decentralized crypto exchange, imposed a 0.15% fee starting Tuesday on trades involving ETH, USDC, and other tokens. Only swaps that execute through Uniswap Labs’ front end will be taxed. This fee differs from Uniswap’s current “protocol fee,” which is overseen by governance voters. Uniswap Labs is imposing this fee as part of its effort to sustainably fund its operations. According to Uniswap creator Hayden Adams, this interface fee will enable them to continue to research, develop, build, ship, improve, and expand crypto and DeFi. While the introduction of the fee has led many investors to dump the asset and create FUD, a hook enabling Know Your Customer (KYC) verification on the upcoming Uniswap v4 pools has sparked discussions regarding the future of DeFi, despite it being an opt-in functionality. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms). PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits. Source: https://cryptopotato.com/uniswap-on-chain-activity-surges-despite-speculation-over-fee-introduction-data/
The post Uniswap On-Chain Activity Surges Despite Speculation Over Fee Introduction: Data appeared on BitcoinEthereumNews.com.
The recent introduction of fees by Uniswap sparked speculation about a ‘sell the news’ reaction, a closer examination, however, offers a different perspective. Despite a 5% decline in UNI’s price since the initial announcement, Uniswap’s on-chain activity has grown. According to the latest insight by Santiment, a noticeable disparity is observed in the diminishing UNI price and the increasing on-chain activity. The crypto analytic platform said that the negative MVRV suggests short-term UNI holders are perhaps feeling some pain. But Active Addresses and Network Growth are two metrics that have surged to levels not seen since July this year. Interestingly, this trend has been on the rise despite a downtrend on the price side of things. Uniswap Labs, the organization behind the decentralized crypto exchange, imposed a 0.15% fee starting Tuesday on trades involving ETH, USDC, and other tokens. Only swaps that execute through Uniswap Labs’ front end will be taxed. This fee differs from Uniswap’s current “protocol fee,” which is overseen by governance voters. Uniswap Labs is imposing this fee as part of its effort to sustainably fund its operations. According to Uniswap creator Hayden Adams, this interface fee will enable them to continue to research, develop, build, ship, improve, and expand crypto and DeFi. While the introduction of the fee has led many investors to dump the asset and create FUD, a hook enabling Know Your Customer (KYC) verification on the upcoming Uniswap v4 pools has sparked discussions regarding the future of DeFi, despite it being an opt-in functionality. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms). PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits. Source: https://cryptopotato.com/uniswap-on-chain-activity-surges-despite-speculation-over-fee-introduction-data/
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