The cryptocurrency market has stabilized after the bear market woes, but there are still some projects under pressure. Binance Coin (BNB) has struggled with the speculation surrounding the exchange, which is reminiscent of a too-big-to-fail bank. Huobi (HT) is another coin looking to recover, but the project’s management has just slashed its headcount by 20% hinting at cash flow problems. Uwerx is a project that will defy the bear market woes and investors can get in during the current presale to what could become a blue chip crypto.
Uwerx (WERX) Presale Provides a Shelter from FTX
Uwerx is a new project looking to tap into the fast-growing market for freelance workers with the blockchain. Uwerx will have a niche in the crypto space and the project can benefit from the lack of competition to bag early successes. The other benefit from the likes of Uwerx is that it can continue to build, free from the fallout of the FTX debacle. Huobi and Binance were overleveraged and there are concerns about their collateral and finances. There are still unknowns in the market, and finding a project with good fundamentals like Uwerx can reward investors.
Uwerx is currently in a token presale, and investors can get access to strong upside potential at this early stage. Two recent audits were completed by InterFi Network and Solidproof and there is also a 25-year lockup phase for development funds after the presale ends, so there is no potential for a rug pull scenario.
We strongly believe this could be an opportunity to get into a future blue-chip cryptocurrency at a lucrative price. Some analysts believe that the coin can rally 6,000% from the current $0.0065 price. The presale is an amazing opportunity to get in early on an extremely solid project.
Binance Coin (BNB) Could Still Get Hurt
Binance Coin (BNB) has mounted a recent rally from the lows of around $210 to find resistance at the $300 level. The project is still not out of the woods on its reserves and could face problems in the future if there are problems with other projects. The blockchain industry is still an interconnected world and the exchanges are prone to any issues that arise with the likes of tether. There was also a money laundering investigation against Binance and its executives which is still hanging over the industry.
However, Binance is moving ahead with a new custody solution that will please investors. The exchange allows institutional investors to keep their crypto used for leveraged positions off the platform, Bloomberg said. The Binance Custody solution allows assets to be held in cold storage wallets, which are not prone to hacks like hot wallets. The feature will be a blessing for crypto investors after the recent turmoil at FTX, which saw user funds frozen or lost altogether. It also means that the exchange can’t meddle with users’ funds like FTX did.
Huobi (HT) Drops After Staff Cuts
Huobi (HT) has been under pressure with news that the exchange was cutting staff numbers by 20%. Management also had to field rumors of insolvency at the exchange. A statement from Tron founder and Huobi (HT) board member, Justin Sun, confirmed that a “structural adjustment” was needed in the firm. Huobi (HT) is based in Seychelles and has offices in Hong Kong, the United States, Japan, and South Korea. The company is publicly listed on the Stock Exchange of Hong Kong.
Huobi (HT) had planned to embark on a global expansion, but that may have cooled with rumors running wild on Twitter of insolvency. Sun also had to address those rumors of insolvency, saying the exchange was “good” and the “security of users’ assets will always be fully protected.” Earlier in January, a crypto journalist reported that Sun had changed employee salaries from fiat payments to either Tether or USD Coin. The journalist also claimed that staff who did not approve of the new payment systems faced being fired. Sun dismissed these claims, saying that Huobi will “fully respect the legal demands of local employees.”
We believe as growth is stronger in projects is greater in the Uwerx presale and investors who are hoping to see massive gains in 2023 should head to the links below to get in on the action as soon as possible:
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
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Website: https://www.uwerx.network/
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