The cryptocurrency market has finally seen some respite from a bruising bear market. Although there are green shoots of recovery, some projects still have headwinds, such as Solana (SOL) and Tron (TRX). Both have been struggling with the after-effects of the FTX collapse. Uwerx has defied the bear market and has a chance to reward early investors with big gains.
Solana (SOL) at Risk from FTX Selling
Solana (SOL) is at risk of forced selling related to the FTX collapse. The bankruptcy of FTX also affected its trading arm, Alameda Research, and the company owned $60 million SOL tokens. That is equivalent to over $1.3 billion, and the FTX auditors will have to sell those tokens to pay back creditors. There is no update on when that will happen, but it adds risk to Solana (SOL) holdings.
Solana (SOL) saw its market cap destroyed in the bear market, with a drop in the price of SOL from $250 to $23. The rally has helped to bring cheer to investors, but it is purely speculative. The project saw gains from the launch of the Bonk meme coin on Solana’s chain, but other projects, such as the Magic Eden NFTs, have been moving elsewhere. Solana (SOL) may not be able to hold on to the current positivity and price gains.
Tron (TRX) Hurt by USDD Stablecoin
Tron (TRX) has been hurt by the problems at the USDD stablecoin. USDD was trading at $0.065 despite the Tron foundation bailing out the coin. Stablecoins need to hold their $1 peg, and recent volatility had trading fearing the worst. The crisis appears to have subsided, but there is still an air of uncertainty surrounding Tron (TRX) founder Justin Sun.
Sun is now a board member at the Huobi exchange, which recently made 20% of jobs redundant. Tron (TRX) will continue to face a headwind from these developments, and the project is also going to be slow to recover in a bull market. Tron (TRX) is one of the old-school coins that is obsessed with being a currency, but that goal will be hard to attain as government circles the industry with plans for their own coins.
Will Uwerx (WERX) Rocket from the Bear Market Gloom?
Uwerx has no contagion risk from the FTX fallout and can offer a better opportunity for investors. Uwerx is building a platform to cater to the industry for freelance workers. Employers are increasingly using freelancers and there are Web2 rivals but no competition in the blockchain. A 2020 Intuit report found that most major corporations plan to shift to using more freelancers and contractors and fewer traditional employees in the future.
Uwerx is currently in a presale and investors can get involved at only Uwerx is currently in a presale and investors can get involved at only $0.0065..0065. This is the token’s price before substantial marketing is done, and the coin will also be listed on exchanges, so it is an opportune time to act.
This gives investors peace of mind that it is a legitimate project. This could be an opportunity to get into a future blue-chip cryptocurrency at an extremely lucrative price especially with a 25% bonus and the ongoing $5,000 competition. Find out more by using the links below.
Website
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
