The Securities and Exchange Commission (SEC) has ramped up its scrutiny of the cryptocurrency industry in recent weeks in the wake of the FTX exchange collapse. Stablecoins have been in their sights with Binance’s BUSD losing half of its market value. OKX (OKB) and Tron (TRX) are two projects that would carry risk from their links to dollar-backed coins. Uwerx is a project catching the attention of analysts and there are no regulatory issues in the way of its growth.
OKX (OKB) Could be Left Behind on Institutional Demand
The OKX (OKB) exchange has been able to mount a rally from $22 to test the $50 level in 2023, but exchanges come with risk. SEC Chair Gary Gensler recently said that many crypto exchanges are not “qualified custodians”. That is a problem because the SEC now wants institutional investors to hold assets with regulated firms. Coinbase is closer to that status than OKX (OKB) is and the exchange could get shut out of U.S. investment flows.
OKX (OKB) has a 24-hour trading volume of around $600 million compared to the $1.6 billion of Coinbase. The latter could see its trading volume surge on institutional money while OKX (OKB) gets left behind. Professional investment managers will be mandated to hold digital assets in regulated custody firms and that will benefit Coinbase. OKX (OKB) does not have a stablecoin but could be at risk of any rule changes as the SEC also targets dollar-backed coins.
Uwerx (WERX) Offers a Niche Opportunity
Uwerx is a new project looking to bring real-world utility to the blockchain. Many tokens are priced on hope, but Uwerx is bringing a niche project that can tap into underlying gig economy strength. Freelance workers are in demand and are becoming more important to the global economy. Uwerx will seek to disrupt the current market with blockchain technology and grab market share. Uwerx wants to slash fees from 20% to 1% and that could see the project pick up early market share in a trillion-dollar industry,
Uwerx is currently in a token presale and is under the radar of many investors but that can change in 2023. Uwerx passed two separate audits with SolidProof and InterFi Network and investors can be sure that it is a safe project, with a 25-year lock-up period on development funds adding further confidence. Uwerx has impressed analysts with some expecting the coin to rocket from the presale price of $0.00995 and hit $2.80 by the end of this year or beginning of 2024.
Tron (TRX) Could See Problems with USDD
Tron (TRX) is another project that is vulnerable to stablecoin issues. The project saw its coin price drop in late-2022 as its USDD stablecoin threatened to break its U.S. dollar peg. The Tron foundation had to bail out the stablecoin and defend the peg. There is a risk that this problem could return if investors lose faith in stablecoins.
Tron (TRX) was able to mount a mediocre rally from $0.05 to $0.05 in the first two months of February and that highlights the price gain potential of the project if there is no new development to attract adoption. As experienced investors know, investing early into projects with solid fundamentals and potential for growth, is where significant gains are made.
Tron (TRX) has had its early price run and is losing ground as a top coin, which is why Uwerx (WERX) can be a better bet for investors and there is more information on this exciting project and a 20% purchase bonus at the links below.
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