The cryptocurrency bear market in 2022 was hard on decentralized finance (DeFi) projects as troubles in the sector aligned with aggressive interest rate increases from global central banks. Aave (AAVE) and Avalanche (AVAX) were two projects that suffered and are looking for a revival of fortunes. Uwerx is a brand-new project seeking to bring blockchain technology to the freelance work sector and analysts think a 6,000% return is possible for investors.
Aave (AAVE) Needs a Revival of Crypto Lending
Aave (AAVE) is a liquidity protocol that investors can use to earn interest, borrow assets, and build decentralized applications. However, assets staked on the blockchain have dropped from $16bn to only $3.3bn on the V2 platform. As that liquidity has dried up, the market price of Aave (AAVE) has dropped to $56 from $250 and managed to find its footing at $76.04. Aave will have to see a return in the appetite for crypto lending.
Aave (AAVE) users can stake and borrow in a range of coins, including, Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and ARBITRUM FAN BADGE (ARBIRTUM). Investors can also vote on protocol changes and take out flash loans. The future of Aave (AAVE) may be a little slow to see a full recovery because of the recent problems with DeFi projects such as LUNA. Market confidence has to come back, especially amongst institutions.
Avalanche (AVAX) Sees Growing Interest
Avalanche (AVAX) lived up to its name with a drop from $103 to $17.63 in the bear market. Avalanche (AVAX) is another smart contracts platform, which allows developers to build Ethereum decentralized applications on the Avalanche (AVAX) blockchain. Avalanche (AVAX) saw strong growth in its GameFi offering last year, which could see a price revival in 2023. GREE, a Japanese conglomerate, announced its plans to build Web3 games on the Avalanche (AVAX) chain.
In other news, FIDE, the governing body for chess, has announced plans to use Avalanche for its Web3 plans. These are part of a growing number of partnerships that were interested in the project’s GameFi space. Avalanche (AVAX) can benefit from its efforts to diversify.
Uwerx (WERX) Can Sprint Faster than Lenders
Uwerx is a new project that can benefit from a lack of competition in the crypto space. The project will create a whole new blockchain based ecosystem for freelance workers. As Aave (AAVE) and Avalanche (AVAX) seek a revival in DeFi appetite, Uwerx is targeting a sector that is already growing with double-digit growth in freelancers since the pandemic.
InterFi Network and SolidProof have both recognized the extent to which WERX will disrupt the freelance market and have already passed the audits at prelaunch. Contract ownership will also be renounced as soon as the project is ready for listing on centralized exchanges. Uwerx is well on the way to become a blue chip cryptocurrency as crypto experts predict an increase in excess of 20,000%.
Using decentralized ledger technology can bring advances to the sector with faster payments and lower fees. Employers can benefit from greater transparency when interviewing freelancers and the ledger can also bring more security and ownership of intellectual property. Uwerx is currently in a token presale at $0.005 and investors are currently enjoying an introductory bonus of 25%. Experts predict a sharp price gain in 2023 when it attracts more mainstream attention and lists on large exchanges.
Website: www.uwerx.network
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
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