The post Will Tron (TRX) or Solana (SOL) Be The Next FTX Victim? Uwerx (WERX) Can Beat Them To Gains appeared first on Coinpedia Fintech News
The crypto market was reeling in 2022 from the failure of the FTX exchange. Many firms have been caught up in the contagion, but investors should be careful not to assume that the troubles have gone away. Tron (TRX) and Solana (SOL) are two projects with headwinds. Investors should step away from these risky projects and consider Uwerx which can reward them with big gains this year.
Uwerx (WERX) Can Avoid Trouble and Win Big
Uwerx will help investors to avoid the contagion risk in many developed projects. Those projects have also seen their big return for investors, and it would be a slow grind higher for a rebound. Uwerx could win big because it is still under the radar. It is also operating in a niche area of crypto with no competition and a fast-growing market.
Uwerx is creating a platform to bring employers and freelance workers together. The sector is booming, with the dominant players raking in big revenues. However, Uwerx wants to improve the process for all with lower fees and faster transaction speeds. The digital ledger also provides a better architecture for data security and storage. The project is currently in a presale at $0.01 and investors should look to get in early to what could be a blue-chip crypto one day.
Solana (SOL) Struggles with TVL Numbers
Solana (SOL) got investors excited with a 100% gain at the start of 2023, but the coin had destroyed fortunes prior to that with a drop from $250 to $8. The Solana (SOL) chain had been the darling of the crypto industry in 2020-21 but has since seen its fortunes change. A series of security breaches and hacks saw developers run away from Solana and the number of investors dried up.
Solana (SOL) may have seen its token rally, but the project needs help with Total Value Locked (TVL) on the chain. Solana had $12bn of TVL in November 2021, but that has slumped to only $242 million and there has been a movement of NFT projects going to other chains, such as Magic Eden. The big problem for SOL holders is that the project sold 60 million tokens to the trading arm of the defunct exchange FTX. Auditors may now sell those tokens to raise creditor funds, which would negatively impact the coin’s price.
Tron (TRX) Under Pressure from USDD
Tron (TRX) had a rough year in 2022 as the project suffered from its ties to the USDD stablecoin. Justin Sun, the founder of Tron (TRX), created the USDD stablecoin just in time for the collapse in DeFi projects and the struggles at other stablecoins. The price of Tron (TRX), the 18th-largest token by market cap, recently dropped 8% amid fears for the crypto exchange Huobi. Sun is now on Huobi’s advisory board, and the exchange said Friday it will cut its headcount by 20%.
Tron (TRX) lost value as the USDD stablecoin surrendered its peg to the US dollar again. The Tron Foundation had moved before to add further capital and defend the $1.00 peg.
Meanwhile, security firm PeckShield said that crypto wallet addresses linked to Sun moved over $50 million to crypto exchange Binance. Investors should be careful about holding both Tron (TRX) and Solana (SOL) and go for an easier ride in Uwerx.
It is our belief that Uwerx holds significant promise and may be worth considering despite the potential risks. The project has already undergone successful audits by InterFi Network and SolidProof, and its liquidity will be secured for a 25-year period following the conclusion of the presale.
Additional information on Uwerx, the competition to win $5,000 of WERX and the 25% purchases bonus can be found through the provided links.
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