The collapse of the FTX exchange rattled the crypto markets in November, and there are still victims with the collapse of the Genesis trading platform. Two projects that are feeling the heat of FTX are Solana (SOL) and Huobi Token (HT). Investors would be safer buying Uwerx (WERX) which has just passed an audit ahead of its presale and can reward early investors with its niche platform.
Uwerx (WERX) Can Disrupt Freelance Platforms
Uwerx will have the right mix of growth drivers to be a top performer in 2023. As most experienced investors know, investing early into projects with solid fundamentals and growth potential, is often where significant gains are made. Uwerx wants to be a disruptor in the world of freelance work with a decentralized platform that can challenge the current market layers. Uwerx is under the radar of most investors and can charge ahead with more mainstream attention and listings on the top exchanges. The project will also have a first-mover advantage in a growing sector.
Uwerx can give cautious investors peace of mind from a recent InterFi Network audit, and there is the added security of a 25-year lock-up period for developer funds raised in the presale. Uwerx will likely become a dominating force in the freelancing industry as it disrupts traditional freelancing platforms with blockchain technology. Investors can get WERX in the current token presale and analysts have highly recommended the project with some expecting gains of up to 8,500%.
Solana (SOL) Risks Selling Pressure from Auditors
Solana (SOL) has rallied in the early stages of 2023 after taking a bruising in the 2022 bear market. Solana (SOL) lost its top-ten status after security issues and hacks. Solana (SOL) was the crypto market darling in 2020-21, with the token price soaring to $250. However, the coin plunged over the last year to trade below $10 before seeing a rebound with the general market. One headwind for the coin is going to be selling by FTX auditors. Solana (SOL) sold 60 million SOL tokens to the exchange, and they will have to be sold to raise funds for creditors.
Solana (SOL) managed to get back near the top ten coins, but may not stay there if selling comes. Another headwind for SOL is that the recent rally was derived from gains on a Solana (SOL)-based meme coin. The BONK coin is the latest dog-themed meme coin and it may not have long-term value. Solana (SOL) was likely oversold over the last year, but its security-related issues in the past will add a headwind to the price as investors look for security.
Huobi (HT) Reels After Staff Cuts
Huobi (HT) has been under pressure after the exchange cut staff numbers by 20%. The Huobi (HT) project joined other exchanges with a round of cuts in headcount, which also follows the trend of companies in the tech sector in the U.S. Huobi (HT) is headquartered in Seychelles and has offices in Hong Kong, the United States, Japan, and South Korea. After a management buyout in late 2021, the new team behind Huobi (HT) planned a global expansion, but that plan is likely on the back burner.
Tron founder Justin Sun now sits on the board, and he also had to answer rumors of insolvency, saying the exchange was “good” and the “security of users’ assets will always be fully protected.” Huobi (HT) could be a risky investment in the year ahead as uncertainty still surrounds the outlook for exchanges. Even if the finances are in good health, competition will rise to meet the demand from investors who switch from FTX exchange trading to a new firm.
If we were to bet our top dollar on a potential high growth project, it would be Uwerx. It seeks to solve real world problems and is tied to an ever-growing industry, that is, the gig economy – get in on the action by joining the presale and get a 25% purchase bonus as well as standing a chance to win $5,000, click on the links below before the price increase later on today!
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.network/
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