Uwerx will be a new crypto project looking to disrupt the freelancer market. By tapping into that fast-growing sector, Uwerx can see strong gains in 2023. The crypto market rally is likely to be slow, and coins like Ethereum (ETH) and Ethereum Classic (ETC) will face an uphill battle for returns.
Ethereum (ETH) fails after merger upgrade
Ethereum (ETH) was the big news in crypto in August and September after the project announced its long-awaited move into proof-of-work mining. The move made the project greener, but the developers said it would not solve problems with gas fees and transaction speeds. The merger happened around September 15, but the price is still lower after the FTX fallout. Ethereum (ETH) remains the number two crypto in the world with a valuation of $200.
Ethereum (ETH) currently has $28 billion in total value locked up on-chain, but that’s down from $100 billion at the peak. Ethereum (ETH) has suffered a drop in sales of NFTs and other applications. The next Ethereum (ETH) upgrade will be the Shanghai hard fork. The Shanghai update allows the withdrawal of staked Ethereum (ETH) tokens, which remain locked after the September update. The coin is currently trading around the $1,851 figure after reaching highs of $2,000 before the merger.
Ethereum Classic (ETC) Loses Early Gains
Ethereum Classic (ETC) was seen as a beneficiary of the Ethereum Merge. Ethereum Classic (ETC) still uses the proof-of-work architecture, and it would have been an easy switch for miners. The chain saw a jump in the total value locked to $1.4 million at the time of the merger. However, the project has since seen its TVL drop to $159k.
Ethereum (ETH) founder Vitalik Buterin previously backed Ethereum Classic (ETC) ahead of the merger, but failed to generate a sustained surge in activity. In his comments, Buterin called the chain a “good” PoW alternative to Ethereum. Ethereum Classic (ETC) has broken out of the top twenty coins and sits at 24th place. The current price of ETC is $19.89 with a market capitalization of over $3 billion.
Uwerx (WERX) may outperform Ethereum this year
Uwerx is a new project with real-world utility, benefiting from first-mover advantage via a decentralized blockchain. The current market leaders for freelancing use Web2 software platforms, but Uwerx wants to bring the market to the blockchain. Today’s market is often criticized for high fees and slow payments, which are two areas that the digital ledger can fix. Uwerx wants to cut fees from 20% to 1% and that could see the project gain early market share. There are other benefits to using the blockchain, such as increased data security and IP control.
Investors are showing a high level of confidence in the legitimacy of the project, as liquidity has been locked in for 25 years after the pre-sale ends, and furthermore, the project has received audit approvals from both the InterFi Network and SolidProof.
Uwerx can get ahead of Ethereum (ETH) and Ethereum Classic (ETC) because it doesn’t have to follow the vagaries of crypto adoption or trust. Uwerx is currently in pre-sale at a value of $0.0065 and under the radar of most investors. Gig economy workers grew by 12% during the pandemic in the US and there are expected to be 91 million freelance workers in the country by 2028.
That underlying market and growth will support Uwerx and gains can come from trading and listings. Some analysts expect to see a big rise in WERX to $2.80 this year.
Check out the links below to join this exciting pre-sale while you can, before the price increases later today, and enjoy a 25% shopping bonus, as well as a chance to enter a competition to win $5,000.
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This post Ethereum (ETH) merger fails to activate Ethereum Classic (ETC). Uwerx (WERX) pre-sale may surpass both in 2023
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