Investors Scramble To Uwerx (WERX) As Market Stalls

Ever since the crypto market entered the bearish scenario in 2022, traders have faced disappointments as the price runoff cooled for many coins. Hunting the next golden goose became ever so difficult as major coins faltered and altcoins jumped up and down. This was further affected by the collapse of Luna Network and the FTX implosion.

Even now, with half of 2023 gone, the market seems to be stalling again. Yet, Uwerx seems to be an exception as its presale ($0.05645 per WERX) keeps attracting people. Investors show confidence that the decentralized freelancing platform can grow.

Waning Cryptos in 2023

Like it or not, the alternative financial system that is the crypto market is affected by the traditional one. When economies slow, investors get jittery and pull out, even from cryptos. With many economies still struggling from the aftereffects of the global lockdown a few years ago, it has its influence felt in the digital asset market.

If that weren’t enough, the United States SEC is starting to spread its wings. First, it was only XRP (XRP), but recently, it has identified several tokens that it says come under the securities classification. This further pulled back the market as holders shed their assets in anticipation of falling prices.

Followed up with tightening regulations have become a noose for many crypto projects lately, with some major centralized exchanges pulling out of different markets.

In the latest developments, the Federal Open Market’s Committee (FOMC) meeting minutes and Jobless Claims report were made public within the span of a day. With both expected to show data in red (which eventually did show better than expected stats) this month, the market further dumped in anticipation.

Uwerx (WERX) Will Run on Freelance Market, Not Crypto Anticipation

A decentralized project in the works, Uwerx is breaking the status quo and building a crypto project that relies not on speculation, but on the firm grounds of the global freelancing market.

True, it is a crypto project and carries its own WERX token that will act as a medium of exchange, but its price will be driven by what the project will bring to the freelancing market, a $455 billion industry.

Using the power of blockchain an

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Author: BeInCrypto Team

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