Ethereum (ETH) Merge Fails to Spark Ethereum Classic (ETC). Uwerx (WERX) Presale can Outperform Both in 2023
The post Ethereum (ETH) Merge Fails to Spark Ethereum Classic (ETC). Uwerx (WERX) Presale can Outperform Both in 2023 appeared first on Coinpedia Fintech News
Uwerx will be a new crypto project looking to disrupt the market for freelance workers. By leveraging that fast-growing sector, Uwerx can see strong gains in 2023. The crypto market rebound is likely to be slow, and coins like Ethereum (ETH) and Ethereum Classic (ETC) will face an uphill battle for returns.
Ethereum (ETH) Flops After the Merge Update
Ethereum (ETH) was the big crypto news story in August and September after the project announced its long-awaited move to Proof-of-Work mining. The move made the project greener, but developers said that it would not solve the issues with gas fees and transaction speeds. The Merge happened around 15 September, but the price is still lower after the FTX fallout. Ethereum (ETH) is still the number two crypto in the world with a $ 200 valuation.
Ethereum (ETH) currently has $ 28 billion in Total Value Locked on the chain but that is down from $ 100 billion at the peak. Ethereum (ETH) has suffered from a drop in NFT sales and other applications. The next upgrade for Ethereum (ETH) will be the Shanghai hard fork. The Shanghai upgrade allows the withdrawal of staked Ethereum (ETH) tokens, which remain locked following the September upgrade. The coin currently trades around the $ 1,851 figure after seeing highs of $ 2,000 ahead of the Merge.
Ethereum Classic (ETC) Loses Early Gains
Ethereum Classic (ETC) was seen as a beneficiary of the Ethereum Merge. Ethereum Classic (ETC) still uses the Proof-of-Work architecture, and it would have been an easy switch for miners. The chain did see a jump in Total Value Locked to $ 1.4 million around the time of the Merge. However, the project has since seen its TVL drop to $ 159k.
Ethereum (ETH) founder Vitalik Buterin previously endorsed Ethereum Classic (ETC) ahead of the Merge, but it failed to spark a sustained rise in activity. In his comments, Buterin said the chain was a “fine” PoW alternative to Ethereum. Ethereum Classic (ETC) has slipped out of the top twenty coins and ranks at number 24. The current price of ETC is $ 19.89 with a market cap of over $ 3 billion.
Uwerx (WERX) Can Outpace Ethereum this Year
Uwerx is a new project with real-world utility, that benefits from first-mover advantage by way of a decentralized blockchain. The current market leaders for freelance work are using Web2 software platforms, but Uwerx wants to take the market to the blockchain. The current market is often criticized for having high fees and slow payments, which are two areas that the digital ledger can fix. Uwerx wants to slash fees from 20% to 1% and that could see the project pick up early market share. There are other benefits in using the blockchain, such as increased data security and IP control.
Investors are showing great levels of confidence in the legitimacy of the project as liquidity has been locked for 25 years after the presale ends and also, the project has received audit approvals from both InterFi Network and SolidProof.
Uwerx can speed ahead of Ethereum (ETH) and Ethereum Classic (ETC) because it does not have to follow the swings of crypto adoption or confidence. Uwerx is currently in a presale at a value of $ 0.0065 and under the radar of the majority of investors. Gig economy workers grew by 12% during the pandemic in the U.S. and there are expected to be 91 million freelancers in the country in 2028.
That underlying market and growth will support Uwerx and gains can come with marketing and exchange listings. Some analysts expect to see a huge rise in WERX to $ 2.80 this year.
See the links below to join this exciting presale whilst you can, before the price increase later on today and enjoy a 25% purchase bonus as well as the chance to enter a competition to win $ 5,000.
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