Analysis and latest news about Decentraland, with its lands, Zilliqa standing as the Nintendo of the new decade, and Uniswap, undisputed DEX of the Ethereum network.
Price analysis of Uniswap (UNI), Decentraland (MANA) and Zilliqa (ZIL)
Ever more focused on gaming and metaverse let’s take a look at some of the realities of the crypto world embracing the new course of social and Play to Earn.
The UNI token is a child of the DeFi Uniswap protocol that facilitates the exchange of ERC-20 tokens via liquidity pools. Although the DEX was created five years ago, UNI only saw the light of day three years ago.
Competition from the SUSHI governance token had led UNI to lose 75% of the TVL, but with improvements to UNI as well as through liquidity pools, it has recovered over time.
Unlike BTC, UNI is not a scarce asset and its supply is well in excess of demand, the bear market also contributed to the loss of more than 70% of the token’s value but since the end of December, as was the case with other crypto assets, the sentiment towards UNI seems to have changed.
As scarce a resource as Bitcoin and its price could depreciate if UNI’s demand does not shrink to meet its growing supply.
The trading of the token on the decentralized exchange Uniswap will begin at 10:30 AM (CET) on Wednesday, 11 January.
For some analysts, a bullish upward trend could reach $5.
Uniswap broke this resistance in the past and rose to €5,4470 touching a trading volume of €87,784,582.
UNI’s market capitalization is 4,055,008.988 Euro while there are 1 billion units in circulation.
MANA, last year dropped 90.91% touching a low of $0.2840 on the last of the year.
Eleven out of twelve months saw the color red with the exception of July (+11%).
As of today the crypto trades at $0.3220 and unlike most digital currencies at the beginning of 2023, it is in danger of moving toward the $0.230 support that has not been touched in almost two years.
A rebound is possible upon reaching resistance between $0.3560 and $0.3650 but is given very unlikely by analysts.
Despite the bad moment, Decentraland hosts major brands in the metaverse that wanted to expand into this virtual world by buying their own land, brands such as Samsung, Sotheby’s Dolce&Gabbana, Tommy Hilfiger or Etro.
Meanwhile, the Music Festival on Decentraland has reached its second edition and has recorded the performance of more than 150 artists with a public and critical success that confirms the solidity of the project.
ZIL’s price jumps 45.81% in the last week and the trend is also confirmed by the last 24 hours (+11.36%).
ZIL stands at €0.0225 below 90.7% from its all-time high (€0.24) but recovering sharply.
There are 15,867,699,446.77 ZIL in circulation as of today.
The company is close to launching a Web3 console that will be both a gaming hub and a crypto wallet.
Those who will use the console will be able to mine ZIL while playing, and these will be directly stored in the wallet ready for use.
The console is expected to be implemented any day now, and the ecosystem will be heavily geared toward Play-to-Earn.
The game will be intuitive and will continue releasing game titles under its own name just as PlayStation and Nintendo did, but it will also host games from other realities by adapting them to the console.
The project is well regarded by investors and is also giving a significant boost in ZIL’s performance, which benefits in value.