Uwerx is a new project that has crypto growth investors excited as it seeks to disrupt a lucrative marketplace with blockchain technology. The project is grabbing investors’ attention, as there are still risks in many mainstream projects. Axie Infinity (AXS) and Solana (SOL) are two projects that could face selling pressure in the coming weeks.
Uwerx (WERX) Could Face Buying Pressure
Uwerx is a new project currently in presale at a low price and there is more chance of buying pressure. Uwerx is bringing freelance work to the blockchain with a platform and that can see the project take big market share from the current market leaders. The gig economy is a fast-growing sector after the pandemic changed working habits and Uwerx can take advantage of that trend.
Uwerx was recently audited by InterFi Network and SolidProof – there is a lock-up period of 25 years after the presale completes and a contract ownership renouncement for when the project is ready to be launched so investors know that this is a safe investment. The digital ledger will bring fundamental advantages to workers and Uwerx will slash fees from 20% to 1%. There will be other benefits for employers such as secure data which can eliminate the potential for fake resumes and IP control will be easier. Investors should get in early as this project has a high likelihood of becoming a blue-chip cryptocurrency platform used by millions around the world.
Axie Infinity (AXS) Faces Selling Pressure from Token Unlock
Axie Infinity (AXS) saw a rebound for its token in early 2023, but there is a potential for further selling. One of the headwinds is an imminent token unlock which will release 4.89 million new tokens, representing 1.8% of the 270 million total supply, according to Token Unlocks. An analyst at Hartmann Capital said: “Historically, teams have saved up announcements for unlocks. I think the market has become so reflexive that people buy in anticipation of unlock news.”
The Axie Infinity (AXS) platform is seeing a decline in its user base for the Axie Infinity (AXS) blockchain game. The P2E game designed by Axie Infinity (AXS) has seen users slump to 100,000 daily live players and 432,000 over the past month. This is a big decline from the 2.3 million players recorded at the project’s peak in late 2021. Investors lost trust in Axie Infinity (AXS) after the project’s Ronin Network was hacked for $600 million.
Solana (SOL) at Risk from FTX Creditor Claims
Solana (SOL) has been rising strongly in 2023, but the reasons for the gains are not ideal. The first reason was the release of a dog-themed meme coin named BONK. The coin saw a big pump-and-dump market move, and investors dived into Solana (SOL) at the same time. Dog meme coins are not a reliable investment strategy and does not hide the problems that Solana (SOL) has had with hacks and other technical issues.
Solana (SOL) faces another big difficulty after the sale of 60 million tokens to the now-bankrupt FTX exchange. The auditors will have to sell those coins to pay creditor claims, and that will hit the price of Solana (SOL). The price of Solana (SOL) saw a price dump from $250 in late 2021 to $21.99 at the end of 2022 as the bubble burst for the “Ethereum Killer”.
We recommend investors look to new horizons – Uwerx looks set to break records, take a look at the presale action by following the links below and earn 25% on your purchase as well as a chance to win $5,000 in an ongoing competition.
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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