- Uniswap social activity hits a monthly high
- The price of UNI showed almost the same trend as other cryptocurrencies
social dominance and social size of a decentralized exchange, Uniswap [UNI] It peaked throughout the twelfth month on December 25th. According to Santiment, the protocol’s social dominance was 20.28% during the day.
This social dominance measures the discussion about an asset. On average, this was higher than the numbers recorded by other cryptocurrencies.
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In terms of social volume, Uniswap placed it at 6,898 kronor. Therefore, this meant that the search for the symbol had intensified among the merchants.
Unfortunately, these measurements It cannot continue to rise. At the time of publication, Uniswap’s social size has dropped to a value of nine. On the other hand, social dominance was cut down to 0.15%.
Traders think of it as an opportunity
After development, the actions of the traders showed that they saw it as an opportunity to profit from UNI. sentiment data open Derivatives funding on Binance improved to 0.009%.
The meaning of this situation refers to the transition to opening contractual positions within UNI pairs. Despite the increased interest, UNI has resisted the increase in value.
At the time of writing, CoinMarketCap data revealed that UNI was following the broader market forgetting the trend, Register An increase of 0.34% in the last 24 hours.
A closer examination of the activity in the derivatives market showed that several exchanges saw an increase in interest with UNI. Based on information from CoinglassFutures open interests were clearly green at the time of writing.
At the same time, liquidations were not as high as expected. In the last 24 hours, more than $32,000 has been erased from traders’ goal of taking out the market for potential profits. Notably, short traders made up a significant portion of the victim.
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It cannot affect holdings
In light of continued optimism about the future of the market, Uniswap release NFT pool in november. On the other side of the development, a large collectibles business could have been envisioned within the Uniswap network.
However, it was a different case with NFT size. According to Sanitment, NFT trading volume was a paltry $7,553, and thus, non-fungible asset collectors are finding UNI NFTs one doesn’t necessarily want.
considered likely feelingsOn-chain data showed that it fell to 0.619. It is noteworthy that feelings initially accompanied the rise in social scales. This situation meant that repetition of negative cues to UNI replaced positive perception.