Ethereum (ETH) is getting set for its next big upgrade after the September Merge, with the coming Shanghai upgrade. Litecoin (LTC) is another project heading for a blockchain upgrade with another halving event. The Merge failed to spur the price of Ethereum (ETH) and the market trend will determine the path of Litecoin (LTC). Analysts currently prefer the outlook for Uwerx which has niche crypto potential and is expected to see its price soar in the year ahead.
Ethereum (ETH) Upgrade Releases Staked Tokens
Ethereum (ETH) was the big focus of the crypto market in August and September last year after the project announced a long-awaited move to Proof-of-Work mining. The move made the project 99.9% more energy efficient but developers said late on that it would not solve the issues with gas fees and transaction speeds. The Merge happened around 15 September, but the price failed to push higher after the FTX collapse.
Ethereum (ETH) currently has $28 around billion in Total Value Locked on the chain but that is down from $100 billion at the peak. Ethereum (ETH) has also suffered a big drop in NFT sales over the last year. The next upgrade for Ethereum (ETH) will be the Shanghai hard fork, which is set to release staked tokens and remain locked following the September upgrade. There is a risk that some of those tokens could be sold and weigh on the price.
Litecoin (LTC) will Alter Block Rewards and Supply
Litecoin (LTC) is awaiting another halving event later in the year, with the third of its kind happening on August 3. A crypto halving is when mining fees are cut in half for newly minted coins. The halving also cuts the supply in half and is designed to reduce inflationary effects on the token. The market assumption is that these events are bullish, but Litecoin (LTC) has not been able to hold onto previous gains.
Recent analysis for Litecoin (LTC) has also hinted at some potential selling in the coin. Data provider Santiment has warned investors that Litecoin’s (LTC) price may drop due to an increase in selling activity among larger investors. According to the report, the recent coin distribution for Litecoin (LTC) was seen as a profit-taking move, and investors are probably using the rally to sell out of the project on the recent market gains. Litecoin’s (LTC) plan to be a mass-adopted payments token has not materialized and investors should forget about big gains in Litecoin (LTC) in 2023.
Uwerx (WERX) is the Choice of Analysts
Uwerx is a new project that is looking to bring a real-world marketplace to the blockchain. Freelance working is becoming more important to the economy and Uwerx will add benefits for employers and workers. The project will begin life as the only blockchain platform and can see first-mover benefits that will put a rocket under its token price.
Uwerx is currently in a token presale and is still under the radar of many investors but that can change in 2023 with marketing efforts and exchange listings.
Uwerx successfully passed an audit with InterFi Network and SolidProof and investors can be sure that it is a safe project, with a 25-year lock-up period on development funds after the presale ends, adding further confidence.
Uwerx has impressed analysts and some are expecting the coin to rocket from the presale price of $0.0075 to $2.80 by Q1 2024. Investors are currently enjoying an additional presale bonus of 25%
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.
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