Traders switched to decentralized exchanges (DEXs) in the wake of the FTX demise. Out of nowhere,
Uniswap (UNI) has become the world’s second-largest Ethereum (ETH) trading platform. Despite the increasing number of ETH-trading in Uniswap, the coin still struggles with the negative effects of FTX’s collapse.
There is one coin that our analysts picked out and that’s The Hideaways – they’re bringing property onto the blockchain and look to be the real deal. We talked to the team and they’re heads down actually building instead of just hyping everything and it looks to be going under the radar until full marketing starts.
FTX Aftermath: Ethereum Falls Behind $1,200
On Monday, the ETH price is trading below $1,200, showing a 3.7% drop in the previous 24 hours. Ethereum prices will continue to drop as long as the FTX hacker exchanges the coin for wrapped BTCs.
The FTX account drainer is exchanging the ETH funds stolen for BTC, dumping approximately $6 million in exchange for 357 renBTC. This continues to distress ETH prices, which are currently down to $1,123.16, leagues away from the coin’s 7-day high of $1,277.08.
Several ETH users expressed concerns about the coin, ranging from SEC regulation to centralized control to ETH supply being locked up. If this sentiment continues, other currencies like Uniswap might surpass ETH in the market.
Uniswap Overtakes Coinbase
Amid the FTX dilemma, Uniswap (UNI), DeFi’s most popular decentralized exchange, has surpassed Coinbase regarding the daily trade volume of ETH pairs.
Thanks to the FTX scandal, crypto users have been withdrawing funds from crypto exchanges in favor of non-custodial options for trading money.
As the largest and most liquid DEX on the market, Uniswap attracted large transactions, arround $20.3 billion in volume, triple the amount of ETH trading on Coinbase.
If this momentum continues, Uniswap might have a shot at surpassing Binance as the top DEX for Ethereum trading.
Gear Up For 2023 With The Hideaways
It’s time to ditch the old crypto coins like Ethereum (ETH) and UniSwap (UNI) for newer projects. The Hideaways (HDWY) offers more potential when dealing with market volatility.
Investing in new tokens like HDWY won’t deplete your resources. The Hideaways can skyrocket your real estate investing career by releasing NFTs with real-world utilities.
Do you want to participate in a $23 trillion luxury investment? Buy HDWY tokens now for only $0.072 and get a 10x return on investment!
Switching to The Hideaways also allows you to be part of the Club Hideaways, which offers exclusive luxury benefits to first HDWY holders.
Investors are excited to place their money on the project with a 6000% increase in 2023! Leading analysts expect the token’s market cap to grow to $200 million.
Don’t think twice, and place your money on the table! With liquidity locked for 999 years, and team tokens locked for two years, you don’t have to worry about investment failure.
Get the luxury house of your dreams with The Hideaways!
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.