{"id":512763,"date":"2022-12-17T09:28:02","date_gmt":"2022-12-17T14:28:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=512763"},"modified":"2023-03-08T07:26:34","modified_gmt":"2023-03-08T07:26:34","slug":"uniswap-stuck-in-the-ground","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/uniswap-stuck-in-the-ground\/","title":{"rendered":"Uniswap Stuck In The Ground As UNI Copes With Falling Network Activity"},"content":{"rendered":"
According to Santiment, the decentralized exchange Uniswap has not experienced any kind of recovery. Santiment recently tweeted that Uniswap is one of the outliers in the active addresses measure, indicating that the DEX’s native token UNI is underperforming relative to other cryptocurrencies.<\/a><\/p>\n According to the data, the number of functioning IP addresses last increased when Uniswap introduced its NFT market aggregator<\/a> following the acquisition of Genie,<\/a> the pioneering NFT market aggregator.<\/p>\n Address decline may indicate investors and traders have lost interest in the exchange.<\/p>\n <\/p>\n \ud83d\udcca Several #altcoins<\/a> are seeing big upticks in address activity and dormant wallets awakening to move their funds right now. Others are staying stuck in the mud, and are more likely to fall behind. Read our short take on $YFI<\/a>, $REN<\/a>, and $UNI<\/a>. https:\/\/t.co\/MI1HQaLUpy<\/a> pic.twitter.com\/sRSyiDvqVe<\/a><\/p>\n \u2014 Santiment (@santimentfeed) December 15, 2022<\/a><\/p><\/blockquote>\n To summarize, Uniswap\u2019s network activity has been very unpleasant for investors on its native token. As of writing, UNI<\/a> is down 2.4% with subsequent drops in the weekly, bi-weekly, and monthly timescales. This negative market sentiment can be seen on-chain.<\/p>\n In the time after its release in November, the volume of NFT transactions processed by Uniswap’s marketplace aggregator has dropped significantly, as reported by Dune<\/a> Analytics.<\/p>\n Numbers show that there were only 39 recorded transactions today, down from 446 on November 30. That is a drop of 91.25%.<\/p>\n This contradicts what Uniswap Labs COO Mary-Catherin “MC” Lader stated to Fortune in an interview.<\/a> She stated that the NFTs’ underlying technology is still in its infancy. Other proponents of the technology<\/a> have utilized this reasoning.<\/p>\n Whether or not the NFT business is in its infancy, data<\/a> indicates that it is barely alive, with few customers and sellers, as seen by large declines in trade volume and sales.<\/p>\nChart: TradingView<\/pre>\n
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Image: Forkast<\/pre>\n
Negative Market Sentiment<\/h2>\n