AI Trading

Uniswap makes massive waves within the cryptocurrency market. For instance, the project has recorded an enormous volume surge over the past week.

Meanwhile, the network volume surpassed $9.62 billion in August last year, while this week’s figure stands at $8.62 billion. That represents only a 7% drop, whiles the total crypto market capitalization declined by 49% within the past year.

Also, the decentralized exchange saw a massive uptick in Twitter discussions. However, Santiment trusts scam accounts targeting inexperienced investors via automated comments contribute to the chatter. Remember, Uniswap sees the highest Twitter discussions since its inception.

Also, Uniswap has seen debates on its possible reaction to the coming ETH Merge. Recently, Uniswap tweeted that it will keep working seamlessly through the migration.

AI Trading

Meanwhile, UNI displayed bullish activity over the recent days regardless of last week’s slump. Investors might expect a near-term upward move as several bullish facets appear on the decentralized exchange.

Uniswap Run Progresses

UNI noted a massive uptick on August 30 as the overall market sentiment confirmed notable recoveries. While publishing this post, the alternative token traded at $6.33, gaining more than 6% within the last 24 hours. Nevertheless, UNI lost 10% in the past week.

Surprisingly, Santiment revealed that traders remain distressed according to the 30d MVRV chart. While writing this content, UNI’s MVRV ratio hovered at -16.20%. Meanwhile, it has recorded massive recoveries since the previous week.

While publishing this news, Uniswap’s Relative Strength Index (RSI) swayed at 54.81, meaning investors can forget about bullish runs in the upcoming days. Moreover, address activity has triggered a surge in UNI’s buying pressure.

Uniswap looks to resurge as the token’s near-term future remains bright for now. Will the top decentralized exchange lead the market revival or deteriorate again? Time will answer.

The crypto market sees a respite with minor upticks following the recent downturn. The cumulative market cap noted a mere 0.06% 24-hour increase to $994.12 billion. However, bears roam the marketplace, and assets can witness new slides again. As mentioned above, time will tell what the market has for enthusiasts.

Feel free to share this article.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Franklin Smith

By Franklin Smith

Franklin Smith is a Senior Crypto Journalist and Analyst at Herald Sheets, with over seven years of experience in the cryptocurrency and blockchain industry. Known for his insightful articles and in-depth analysis, he is an influential voice providing valuable insights to investors and enthusiasts. Franklin holds a bachelor's degree in Journalism and Communications from the University of California, Berkeley.