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.
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We współpracy z: https://cryptopotato.com/uniswap-on-chain-activity-surges-despite-speculation-over-fee-introduction-data/
