This year’s bear market has been greatly unforgiving to many tokens, and Stacks (STX) and Gala (GALA) were not excluded from the onslaught. Stacks (STX) and Gala (GALA) have had a good run and may yet have space to do even more wonders, but investors seem to be paying more attention to the new coin Uwerx (WERX). Here’s why.
Stacks (STX): Down 86% from all-time high
Stacks (STX) is a layer-1 blockchain solution created to integrate smart contracts and decentralized applications (DApps) into Bitcoin (BTC), and Stacks (STX) manages to do this without compromising on any of the features that make it the top coin.
Stacks (STX) is currently trading at $0.64 with a 24-hour trading volume of $21,841,492, but those numbers are a far cry from what Stack (STX) used to be at its all-time high. As the bear market continues to ravage the ecosystem, investors keep losing faith which makes it infinitely harder for the Stacks (STX) token to climb back to its former glory.
Gala (GALA): Has been on a downtrend since January
Gala (GALA) tokens are the native currency for the Gala Games ecosystem, and they were launched in 2020. Since it was created, Gala (GALA) has seen good action; in 2021, it saw a bullish trend that saw it climb from $0.001 to an all-time high of $0.84 in November.
Unfortunately, Gala (GALA) could not sustain that all-time high for long, and by December, it had entered a bearish trend that extended into January 2022. Since then, Gala (GALA) tokens have continued to fall, signaling an exit for some of the investors.
A Tidal Wave of Growth in the Freelance Industry
Analysts and experts alike are currently raving about positive price predictions during the presale of the WERX token. Whilst some predict it could even reach $2 2024 – these astronomical predictions aren’t unwarranted. Uwerx is riding the tsunami of growth that the gig economy has seen pre-COVID, this growth which shows no signs of stopping has the statistics to back it. Currently, 47% of working millennials say they now freelance in some form or the other and around 46.5% of the total global workforce is self-employed -which translates to roughly 1.6 billion people according to the World Bank.
Uwerx (WERX): A Game Changer
Uwerx is poised to tackle many problems. The project will tackle the natural problem of oversupply – as traditional platforms such as Uwerx and Fiverr get oversubscribed with freelancers and rare talent gets camouflaged. Uwerx will provide a fair battleground for freelancers to establish a reputation by way of a incentivised performance based reputation system. The Uwerx project was also granted approval ahead of it’s prelaunch by InterFi Network – adding another layer of legitimacy to the dream that is “the future of work.”
Uwerx will be the first of its kind – a secure, transparent blockchain based freelance platform that offers competition crushing fees at 5%; compared to the bigger players Upwork and Fiver’s 20%.
This has naturally led to widespread excitement amongst investors and analysts alike. Investors are scrambling to get invest their hard earned money on the WERX token which is currently priced at $0.0315 and analysts predict ‘to the moon’ gains to $2 in 2024. The project has the hopes and dreams of its creators and to exhibit that mindset, liquidity will be locked in for 25 years after the presale ends.
*This article was paid for Cryptonomist did not write the article or test the platform.