While the crypto market experiences fluctuations and some prominent tokens face decline, excitement builds around the Uwerx presale. The presale, which is currently in the 5th stage, showcases the immense potential of this blockchain-based freelance platform. Experts also tip the project could trade at $2.7 by Q4 2023.
Can Chiliz (CHZ) and Nexo (NEXO) recover to challenge Uwerx? Let’s find out.
Coinbase’s Legal Woes: Investors Are Still Skeptical About Chiliz (CHZ)
Chiliz (CHZ) was listed as crypto security in SEC’s court filing against Coinbase on June 6th. The agency accused the biggest US exchange of unregistered securities sales alongside acting as an unregistered securities broker, exchange, and clearing agency.
Since then, Chiliz (CHZ) has lost by 27.6%, as shown in its weekly chart. The token currently trades at $0.068.
However, before this legal drama, Chiliz’s (CHZ) on-chain volume and price performance were bearish for the past three months.
On June 1st, the sports fan token announced its decision to use Ankr as its official RPC provider. Ankr’s RPC technology will provide fast and reliable access between dApps and the Chiliz (CHZ) Layer-1 blockchain. This development will connect Chiliz (CHZ) to the broader blockchain network to facilitate a more robust Web3 sports ecosystem and add value to the CHZ tokens.
The prevailing bearish trend of Chiliz (CHZ) indicates that investors are still uncertain about the token’s next move.
Another Victim Of Sec Vs. Coinbase: Nexo (NEXO) Is Pulled By The Bears
Nexo (NEXO), a crypto lender that allows users to collect crypto-backed loans, is double hit by the SEC. First, the crypto lender forfeited $45 million on January 19th to settle SEC’s charges against it. The lending firm faced scrutiny from regulatory authorities in eight states within the US for issuing its NEXO token without proper securities registration and failing to adequately disclose these offerings to customers.
Secondly, Nexo (NEXO) closed down two offices in the United Kingdom to restructure in April. However, sources linked this decision with its legal issues with Bulgarian authorities over money laundering charges.
In its latest strife, Nexo (NEXO) was also lumped with other tokens as securities offered on Coinbase when the SEC sued the exchange for failing to register as a broker, exchange, and clearing agency.
Due to these accusations, Nexo (NEXO) is in a red zone, as its weekly analysis shows a 5.66% loss. The token currently trades at $0.62, representing a 0.67% decrease in the past day.
Uwerx (WERX) Could Outperform Major Cryptocurrencies Upon Launch. Here’s Why
Uwerx presale began three months ago and is now in its 5th stage. Its popularity can be attributed to the agile methodology approach adopted by the developers. This strategy has helped them release the project in stages while making significant improvements over time.
Uwerx’s token (WERX) presale price has climbed to $0.041 while it has amassed 5,546 signups, 1,655 Twitter followers, and 1,746 followers on Telegram. In response to this growing demand, the Uwerx team increased the presale token allocation to 57% (427,500,000 tokens) of the 750 million token supply. It also reduced the team’s token allocation from 8% to 7% to maximize user benefits.
Uwerx entices investors to its presale with three major features. First, it received audit approval from SolidProof and InterFi Network long before starting its presale. Its developers also plan to renounce their smart contract ownership after listing the WERX token on centralized exchanges. Thirdly, the team has locked its liquidity tokens for the next nine months to prevent fraudulent behaviors. This was approved by 82.8% of the Uwerx community and implemented on Wednesday, June 7th.
As investors are now assured of the safety of their funds, they can store their tokens in the Uwerx Vault for more earnings through savings interest. This feature is like staking and will increase user participation on the platform. In addition, Uwerx will conduct a test airdrop to ensure all token holders have their correct receiving wallet addresses. A 98.2% community vote supported this decision.
Finally, the Uwerx Alpha version is here and already features a Landing page, Signup page, Login/Sign In page, Forgot Password, and a Freelancer or Client Initiation page. Other features include the Initial Step of Job Creation and Initial Step of Finding Talent, My Activity Page, Hiring Dashboard Page, and Job Creation Process pages.
Meanwhile, the Beta version will soon be available for users to interact with. They can also send their feedback to the Uwerx team at feedback@uwerx.network.
According to Payoneer, almost 70% of global gig workers are under 35. As younger generations are more drawn to innovations, Uwerx, with its user case in the gig economy space, will likely experience mass adoption by year-end. This implies that investors will begin to realize gains very soon.
The Uwerx presale is the best time to invest in the revolutionary project. Follow the links below and get a 15% presale bonus on your purchases.
Website: https://www.uwerx.network
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
