- In March the volume of tokens reached a record high. Since then, it has dropped 71.30%.
- The mood has started to improve but the participants are hesitant to introduce liquidity into protocols.
After registering a remarkable increase in the volume of transactions, Uniswap [UNI] The following are some examples of how to get started: Maker [MKR] Have lost some of this figure.
According to IntoTheBlock data, volume was just a bit above $1 billion last week.
The price fell by 71.30 % since the March hike. Volume has a positive impact on the price. The price of these tokens rose when, in March, the metric increased.
Numbers go down
It was speculated that UNI or MKR could lead the revival for DeFi tokens, which were lagging.
DeFi, or Decentralized Finance is the name of these cryptos. They have fundamentals that are related to this industry.
As of this writing, UNI’s price was 7.50%— a 33.62% decrease in the last 24 hours. MKR fell 23.17% in the same 24 hour period.
The tokens’ decreasing popularity could explain the decline. The tokens could also be used to measure the amount of money spent. proof AMBCryptos inference The argument that DeFi Tokens could not compete with Meme Coins is valid.
Uniswap and Maker were displaced in the ecosystem due to the volume and price of the project. Both projects used to be in the top 3 when it comes to TVL.
TVL is a shorthand for Total Value Locked. TVL indicates the perceived trustworthiness of a protocol. At the time of publication, Maker was ranked number four and Uniswap sixth.
The participants are still not convinced
The correlation between price and quality is not as strong. sentiment Around both tokens, there were differences. Santiment, for example, showed that the UNI’s weighted sentiment was 0.181.
As of the press release, MRK had a sentiment score of -0.242. The positive values indicate an increase in the number of comments that are favorable about a particular project.
Positive readings suggest participants who aren’t. bullish A token is a good way to start.
MKR was offered a lot of goodwill by the market, but not UNI. AMBCrypto noted that MKR’s weighted sentiment was on the rise.
Here’s a list of realistic and not-so-realistic images. MKR’s market cap in UNI’s terms
The token’s interest could increase if the metrics jumps into a positive range. MKR or UNI transaction volume may not rise to March’s levels.
The prices may remain flat for some time. UNI could be back at $10 if all altcoins are moving up. MKR could see its value rise to $3300 with an upward trend.
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Source: ambcrypto.com