In just two weeks after launching its NFT marketplace, Uniswap (UNI) reports souring sentiment on its digital collectibles.
Surprisingly, the luxury real estate NFT project The Hideaways (HDWY) witnessed a demand surge over the same period. Investors are going after utility-based collectibles after seeing how over-speculation can send prices down a spiral in a snap.
On-chain analysis reveals Uniswap (UNI)’s non-fungible transaction volume fell to $70,000 this week. This is a sharp increase from its starting point of $246,000 during its launch in late November.
Analysts noted that overall sentiment towards speculation-based NFTs is low nowadays. Investors seek digital collectibles with strong underpinnings like The Hideaways (HDWY), a new project that ties its NFTs with real-world properties.
Due to its recent hit, Uniswap (UNI)’s price failed to give us a good performance this week. UNI is down 11.24% in the 7-day charts, exchanging hands at the $5.40 zone as of this writing.
The FTX collapse brought about negative sentiment against crypto exchanges, and even decentralized platforms like Uniswap (UNI) are feeling its impact.
In total, UNI is down 63.95% year-over-year. And comparing it with The Hideaways (HDWY) which surged 900% this year, the crypto major is an underperformer.
On the upside, Uniswap (UNI) remains a whale favorite. An insider report shows the top 500 whales on the Ethereum network hold $43 million worth of UNI. Only Shiba Inu (SHIB) managed to outsmart it with a $53 million accumulation value.
Still, Uniswap (UNI)’s technical indicators reveal bearish momentum. Its Relative Strength Index, an indicator of buying and selling pulse, is at the 39.0 zone – a clear hint of strong selling pressure.
Analysts say Uniswap (UNI) will end the year at $4.8 – a level it visited during the FTX crash.
The Hideaways (HDWY) rewarded early investors with a 900% gain since its September launch. For those who thought it was too late to invest in the project, drop your worries – there is an exciting road to profit ahead.
The Hideaways (HDWY) is the first NFT project to anchor its digital collectibles with real properties. For a selling price of $100, investors get a fractionalized NFT underpinned with luxury real estate which could be a castle in the United Kingdom, a high-rise condo unit in New York, and a getaway villa in Bali.
These properties yield monthly rental income redistributed to investors in USDT and ETH. For a selling price of $0.10, you are getting a stable token that will give you a steady passive income for life.
The Hideaways (HDWY) is holding a $100,000 prize draw for all token holders. Don’t miss your chance to earn a fortune!
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