Uniswap’s (UNI) NFT Transactions Decline While NFT Project The Hideaways (HDWY) Continues Winning Streak – CryptoMode
Just two weeks after launching its NFT marketplace, Uniswap ( UNI ) reports that sentiment for its digital collectibles is deteriorating.
Surprisingly, luxury real estate NFT project The Hideaways (HDWY) witnessed a surge in demand during the same period. Investors are going after utility-based collectibles after seeing how overspeculation can send prices spiraling in no time.
Uniswap (UNI)’s NFT transaction volume is slowing
On-chain analysis reveals that Uniswap (UNI) non-fungible transaction volume fell to $70,000 this week. This is a sharp increase from the starting point of $246,000 during the launch in late November.
Analysts noted that overall sentiment against speculative NFTs is low today. Investors seek digital collectibles with strong foundations that The Hideaways (HDWY), a new project that connects the NFTs with real properties.
Due to the recent hit, Uniswap (UNI) price failed to give us a good performance this week. UNI is down 11.24% on the 7-day charts, and is trading hands in the $5.40 zone at the time of writing.
The FTX collapse led to negative sentiment towards crypto exchanges, and even decentralized platforms such as Uniswap (UNI) are feeling the impact.
Uniswap (UNI) remains a whale favorite
In total, UNI is down 63.95% year-on-year. And compare it to The Hideaways (HDWY) which rose 900% this year, the crypto major is an underperformer.
On the upside, Uniswap (UNI) remains a whale favourite. An insider report shows that the top 500 whales on the Ethereum network have UNI worth $43 million. Only Shiba Inu (SHIB) managed to outwit it with an accumulation value of $53 million.
Nevertheless, Uniswap (UNI)’s technical indicators reveal bearish momentum. Its relative strength index, an indicator of buying and selling pulse, is in 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.
It’s not too late to take a chance on The Hideaways (HDWY)
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 fractional NFT backed by luxury real estate that can be a castle in the UK, a high-rise apartment in New York and a holiday villa in Bali.
These properties provide monthly rental income redistributed to investors in USDT and ETH. For a sale price of $0.10, you get a stable token that will give you a stable passive income for life.
The Hideaways (HDWY) is holding a $100,000 prize draw for all token holders. Don’t miss your chance to make a fortune!
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