The fallout from the FTX exchange collapse rattled the cryptocurrency industry, but the contagion lingers. Tron (TRX) is a coin under pressure lately, with an 8% drop in one day as investors feared the outlook for its stablecoin. The other project with risk is the NEAR Protocol (NEAR) which was an investment of DCG. Uwerx is a brand-new project with enormous upside potential, which can shield it from potential damage in those other names.
Tron (TRX) Under Fire as FTX Contagion Rumbles On
The Tron (TRX) project was one of the latest to feel the heat of the FTX fallout as its founder rushed to move some of his stablecoins. The USDD and USDJ stablecoins, linked to the Tron (TRX) founder, are struggling to maintain their $1 USD peg. This is a different environment from last year. Sun was promising “safe and sustainable” 148% interest rates on stablecoins and talking of “at least billions” in investment to save FTX.
Tron (TRX) had slumped to a low of $0.006 recently as investors feared the outlook for the project. Projects like Tron (TRX) need to attract developer interest to grow, but that is hard to do when there is market distrust of a blockchain. The token saw a high of $0.15 before the bear market and has since slumped, but the recovery may be slow.
NEAR Platform (NEAR) May Have Liquidation Risk
NEAR Protocol (NEAR) is another project with a risk of selling due to the fact that the Digital Currency Group (DCG) had invested in the token. The latter is a crypto bank, and DCG recently had to bail out $8.3bn in lost deposits. DCG had sold many of its crypto assets to cover the problem, which is a risk to NEAR.
NEAR Protocol (NEAR) saw gains in the DeFi bull market to around $20 but is now trading at $2.23 and is under pressure. NEAR Protocol (NEAR) received strong funding support from institutional investors. NEAR Protocol (NEAR) received a 350 million USD round in April 2022, led by Tiger Global and came three months after a 150 million USD round in January. The market valuation of NEAR Protocol (NEAR) has now dropped below $2 billion after reaching a record of over $12.5 billion.
Uwerx (WERX) Can Offer a Safe Haven
Uwerx will be a decentralized, blockchain-based project that is aiming for big gains. Analysts predict can get access to enormous upside potential without the risks involved in the likes of Tron (TRX) and NEAR Protocol (NEAR). Uwerx is targeting the niche industry of freelance working, which is a resilient and fast-growing sector.
Uwerx will tap into the successful freelance industry where the gig economy already provides $2 trillion to the U.S. economy alone. By bringing the sector onto the blockchain, Uwerx will have no early competition and grab market share to rocket higher in the list of crypto projects. Users should look to snap up this token in the presale at $0.0065 before more become aware of the project. We believe this could be an opportunity to get into a future blue-chip cryptocurrency at an extremely good price.
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