Uwerx is a brand new project currently in it’s presale phase that is bringing the fast-growing freelance sector to the blockchain. The market for freelance workers is booming with help from the pandemic and Uwerx can capitalize. Analysts have high hopes that the project can emulate the early success of Filecoin (FIL) and Aave (AAVE).
Uwerx (WERX) Moves First into a Booming Market
Uwerx is a new project seeking to disrupt the market for freelance workers. The gig economy has been on a growing uptrend but that was boosted by the pandemic as working habits were altered. Consulting experts, McKinsey, said in a report in August 2022, that 36% of employed Americans, around 58 million people, now identify as independent workers.
Uwerx can see its value soar as it picks up market share from the dominant players in the sector. By bringing the market to the digital ledger, Uwerx will slash fees and increase payment speeds. Employers can also benefit from increased data security and intellectual property rights. Uwerx will likely become a dominating force in the freelancing industry with its fundamental advantages over traditional freelancing platforms. Investors should look to get involved in the current presale at $0.0065.
Filecoin (FIL) Lights the Way for Uwerx
Filecoin (FIL) is a good example of what projects can do when they operate in a niche area with little competition. Filecoin (FIL) is a decentralized data storage platform and the project was looking to challenge the cloud storage giants outside of the blockchain. That saw huge gains for Filecoin (FIL) in the bull market as investors saw rapid adoption of blockchain. Filecoin (FIL) rocketed from $3 in 2020 to $180 in 2021.
Filecoin (FIL) could not hold onto those gains and dropped back before running into the bear market. The coin has now traded back near the $6 level as investors see the decentralized storage market as being a harder task for Filecoin (FIL) to conquer. Competition is also growing in the blockchain with Toncoin announcing a storage solution, alongside Storj. Filecoin (FIL) may have seen some obstacles appear on the path but it highlighted what Uwerx (WERX) can do for investors in the early stages.
Aave (AAVE) Also Soared in its Own Niche
Aave (AAVE) is another project that highlighted the power of operating in a niche with no competition. Aave (AAVE) arrived on the scene with the decentralized finance boom. Although many projects focused on finance solutions, none provided loans like Aave. The project’s flash loans provided a solution for miners to get access to quick funds and streamline their mining operations.
Aave (AAVE) saw its value rally from $52 to a high of $600 in 2021. The bear market has seen the price of AAVE slump to the $82 level. Despite the drop in price, daily active users are on an uptrend with Aave (AAVE) and the project will likely rebound with the crypto market. The number of daily active users on Aave increased by 73.9% in the three months to January 2023. Although FIL and AAVE could see positive price action in the future, we believe it would be advantageous to focus on Uwerx (WERX)- a project associated with an evergrowing resilient industry.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.