Elon Musk is still having a big impact on the cryptocurrency market. His recent purchase of Twitter led to a sharp rally in the price of Dogecoin (DOGE) as investors speculated that any crypto use on the platform would include his favorite meme coin. His direct influence on the meme coin was again seen recently with the sharp price and futures spike as he changed the Twitter logo to the Shiba Inu (SHIB) logo. As expected, the price went down after the logo was changed back to the original Twitter icon.
Similarly, a price boost was given to the OKX (OKB) crypto exchange purely because he followed its Twitter page. However, buying on speculation of what Musk will do has not been a long-term strategy and investors should look for something more tangible. Enter Uwerx, which is set to disrupt the booming gig economy.
Elon Musk Boosts Dogecoin Price (DOGE) with Twitter Buy
Dogecoin (DOGE) provided little cheer for investors in 2022 with the price tumbling from $0.017 to lows of around $0.055 in June. However, the coin saw a sharp rebound in October to $0.14 after it was announced that Elon Musk would be buying the Twitter platform. Leaked documents had shown that Musk had plans to use cryptocurrency on the platform and, having long been a fan of Dogecoin (DOGE), investors jumped on board the token.
Unfortunately, the gains in Dogecoin (DOGE) were short-lived, and the price has since dropped to $0.067 recently. Twitter dropped its work on a crypto wallet meaning that any development would be further down the line – with the acquisition of Twitter by Musk we might see a resurgence of Dogecoin (DOGE). It is not the first time that the Tesla owner has backtracked in the digital asset space, after an initial plan to accept BTC for Tesla car payments was reversed due to BTC’s energy-intensive mining. Dogecoin (DOGE) investors should also note that the coin uses the same Proof-of-Work (PoW) mining as the world’s largest crypto.
OKX (OKB) Also Gets a Musk Price Premium
The next cryptocurrency token receiving a Musk price premium was the OKX (OKB) exchange. Although the billionaire only followed the exchange’s Twitter account, the timing is interesting. The crypto market is reeling from the collapse of the FTX exchange and the largest exchange, Binance, is under pressure to prove its investment security.
Musk may be looking at other exchanges to collaborate with his Twitter plans and OKX (OKB) could benefit. OKX’s (OKB) 24-hour trading volume in digital assets is currently $8,163,151, and the exchange has $2.4bn in assets with the bulk of that held in Ethereum and Tether. OKX (OKB) has been a good investment for the bear market as the coin slipped from $28 to lows of around $10, but then traded at $24 after the Musk rally. It has since seen a huge performance increase as it trades at $41.44. That is a better performance than most crypto projects.
Uwerx (WERX) Can Provide Tangible Gains
Uwerx is a new project currently on presale, seeking to tap into the booming market for freelance workers and the project can provide investors with something more tangible than speculation. Uwerx is bringing a decentralized platform to the world of freelance working and the project is looking to unseat the current leaders in the industry, such as Upwork. Uwerx will likely become a dominating force in the freelancing industry with its fundamental advantages over traditional freelancing platforms.
InterFi Network and SolidProof have also completed audits of the smart contracts and the team has also locked in the platform’s liquidity for 25 years after the presale ends. Contract ownership will also be renounced as soon as the project gets listed on a Centralized Exchange.
Upwork has shown investors in Uwerx what is possible with 145,000 employers using the platform in 2020, leading to $2.5bn in bookings on the platform. That has risen again to $3.5bn in 2021, with Upwork bagging $500 million in revenues. Uwerx has the potential to grab a large part of that market share by empowering workers. One of the criticisms levelled at the current gig economy firms are their high fees and slow payments. Uwerx can solve those issues with blockchain technology and innovative ways for freelancers and users to earn more and investors can grab the WERX token in its current presale at the price of $0.005 and enjoy a 25% bonus by following the links below.
Website: www.uwerx.network
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
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