Quant (QNT) and NEAR Protocol (NEAR) were two projects with a strong interest in the 2021 bull market. However, the 2022 bear market has hurt their valuations and a recovery is needed. Investors looking for bigger upside potential, at greater speed, would do well to consider the new Uwerx project seeking to provide a platform for the freelance work industry.
Quant (QNT) Looks for Recovery but Needs Corporations
The price of Quant (QNT) suffered with a near 50% fall in the bear market, but that is a better performance than some. Quant is more of a service provider, seeking to build projects for institutions. Quant (QNT) is seeking to help companies build in the areas of payments, trade finance, and others. One of the aims of the project was also to assist central banks in building their own currencies.
Quant (QNT) is ranked around the top 30 in the list of coins by market cap with a $1.3bn valuation. For the project to see a strong advance it will need to attract more corporate customers with an interest in the blockchain. The problem for Quant (QNT) is that institutional investment has slowed with the bear market. Although QNT could see some positive price action in the future, we believe it would be advantageous to seek opportunities with higher growth potential.
NEAR Protocol (NEAR) has Been Hit Hard by the Bears
NEAR Protocol (NEAR) saw a big bear market with a drop in price from $20 to $1.50. NEAR Protocol is a smart contract blockchain that aims to challenge the likes of Ethereum. NEAR Protocol (NEAR) is a climate-neutral chain that provides an ecosystem for the building of Web3 decentralized applications.
NEAR Protocol (NEAR) struggled for positive price action after losing some funds locked on-chain. The Total Value Locked (TVL) on the NEAR Protocol (NEAR) has dropped from almost $500 million to $75 million over the last year. Projects such as NEAR Protocol will need to see traction with developers and that can slow the upside potential for the NEAR token.
Uwerx (WERX) Can Outperform in the Bull Market
Uwerx is a project that can advance quickly in a bull market as it has first-mover advantages in a fast-growing sector. Projections for the gig economy make Uwerx a good option for investors, with an expected growth of 73 million freelancers to 90 million by 2028. Uwerx can benefit employers and workers with a blockchain offering that solves some previous issues in the sector. Lower fees, enhanced security for employers, and IP control are examples of what the ledger can bring and that’s the reason some analysts see a potential upside of 6,000%.
Uwerx can use its blockchain advantages to take market share from the likes of Upwork and PeoplePerHour. The former made $500 million in revenues last year, which was up 35% year-to-date. Uwerx is currently in a token presale and investors should look to get on board before market campaigns and exchange listings bring more mainstream attention.
Uwerx is set to be a dominating force in the freelancing industry with its fundamental advantages over traditional freelancing platforms. Confidence is certainly high as InterFi Network and Solidproof have already approved the audit for WERX as prelaunch. Recently, the creators announced that they will be renouncing ownership of contracts. In addition, to this, liquidity has also been locked in for 25 years after presale – which is ongoing and priced at $0.05, follow the links below to find out more:
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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