Analysis from investment bank J.P. Morgan in January showed that Coinbase saw its trading volume increase, while other exchanges all lost volumes. That is not a good outlook for Binance Coin (BNB) and Uniswap (UNI) after the collapse of FTX left traders in limbo. Uwerx is a better investment for investors looking for real gains, and analysts have tipped returns of 8,500% in the project.
Uwerx (WERX) Avoids Blockchain Competition
Uwerx is a new project currently in presale which will leverage the fast-growing gig economy. Uwerx will have its own niche in the crypto space, as other market participants are Web2 platforms. A fast-growing market with no competition is a potent mix for crypto projects, and Uwerx can grab quick market share with its benefits for employers and workers.
Uwerx will slash fees from 20% to 5% and employers will have greater control of IP and data security. InterFi Network and Solidproof completed a recent successful audit and there is also a 25-year lockup for development funds after the presale ends, so investors can be reassured that their money is safe. We believe this could be an opportunity to get into a future blue-chip cryptocurrency at an extremely good price. Some analysts believe that the coin can rally 8,500% and see a coin price of $2.60 in 2023. That would leave exchange tokens in the dust, and they also have risk after the FTX collapse and coming regulation.
Binance Coin (BNB) Pressured as Coinbase Wins Volume
Binance Coin (BNB) could struggle after it was reported that the exchange was unable to capitalize on the loss of FTX. Binance Coin (BNB) was unable to get a volume boost after research from J.P. Morgan. The New York investment bank said that Coinbase had improved trading volume in Q1 2023 by 0.3%. That does not sound a lot, but Binance lost -6.2%.
Binance Coin (BNB) has been able to rally from the lows near $211 and got to resistance at the $300 level. The exchange was under pressure over its financial reserves in the wake of the FTX collapse, but that has cooled in recent weeks as the market continues to rebound. However, the exchange volume numbers are not positive for Binance Coin (BNB).
Uniswap (UNI) Also Loses Trading Volumes
Uniswap (UNI) was another project losing volumes in a big way. Uniswap (UNI) saw a -53.9% drop in its original decentralized exchange. The V2 Uniswap (UNI) exchange lost -33%. These figures are swayed by the release of its V3 upgrade, with that exchange seeing 4.4% in additional volume for Q1.
Uniswap (UNI) could rebound in the remainder of Q1 and Q2 when the V3 platform gets up to speed. It is likely that much of the money taken from Uniswap (UNI) was a move to cold wallets in anticipation of moving funds to the V3 exchange, which is expected to be the hottest decentralized exchange on the market. Still, the numbers are a worry for Binance Coin (BNB) and Uniswap (UNI).
Website: www.uwerx.network
Presale: invest.uwerx.network
Telegram: t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
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.
