Cryptocurrency investors had little to cheer in 2022 as a growing number of investors got interested in the sector and met a punishing bear market.
Aggressive interest rate increases from global central banks popped the bubble in technology stocks and dragged crypto lower. Investors are now looking for the best tokens to exit the bear market. Near Protocol (NEAR), VeChain (VET), and Uwerx are three of those with good potential.
NEAR Protocol (NEAR) Sees Strong Adoption in Bear Market
NEAR Protocol (NEAR) enthusiasts had a rough year with the coin falling from $20 to the $1.30 area. NEAR Protocol (NEAR) is a Layer 1 protocol similar to Ethereum and offers its own wallet and staking rewards. One of the criticisms leveled at Ethereum is its inability to scale, but NEAR’s Protocol’s (NEAR) blockchain uses a revolutionary sharding tool called Nightshade to add infinite scalability and speed. That puts the project in a good place to accept mass adoption.
The NEAR Protocol (NEAR) can also connect different external blockchains with its Rainbow Bridge offering. Investors should consider some exposure to the Near Protocol and its NEAR token because the ecosystem saw considerable growth in the number of total accounts, monthly active wallets, transactions, active developers, and projects. From November 2021 to November 2022, Near Protocol (NEAR) saw its accounts grow from 600k to 22 million. Active developers went from 250 to over 1,000 and its 100 projects jumped tenfold to 1,000.
VeChain (VET) Can Benefit from Supply Chain Niche
VeChain (VET) was hurt in the 2022 bear market as the project market cap fell from $6bn to just over $1bn. Despite the gloomy year, VeChain (VET) has the benefit of operating in a niche area of the crypto industry. VeChain (VET) describes itself as a smart contracts platform that is focused on the supply chain management industry. Manufacturers can place sensors, such as RFID tags on their products and record data onto the VeChain network.
The supply chain is big business for the likes of retail giants Amazon and Walmart, with the latter already having dabbled with supply chain blockchain technology. VeChain (VET) can add some diversity to portfolios by targeting an area of the industry that other chains are not. The price of the VET token has fallen from $0.09 to $0.016 in the year to date and that provides a healthy upside target if corporations adopt the project for their supply chain tracking needs.
Uwerx (WERX) Presale Might Have Huge Potential
As most experienced investors know, investing early into projects with solid fundamentals and potential for growth, is often where the largest profits are made. Those gains can be easier to come by if the project operates without competition. Uwerx will be a Polygon blockchain based platform offering in the gig economy with the company building a platform for freelance workers.
The freelance sector is booming and the dominant players such as Upwork can charge higher fees and be slow to pay workers. Uwerx will solve these problems with blockchain technology and lower fees for workers with faster payments due to blockchain technology.
For instance, Uwerx will charge a flat fee of 5% in comparison to Upwork’s 20%. Upwork made over $373 million in revenue in 2020, which was double its 2016 earnings. Those numbers have continued to increase due to the pandemic. Uwerx can tap into this growing market on a global scale and investors in the current presale can secure a future blue-chip cryptocurrency at rock-bottom prices.
This is bolstered by the completion of the prelaunch audit conducted by InterFi Network and Solidproof. Liquidity has been locked in for 25 years post prelaunch. The contract ownership also be renounced before the project lists on a centralized change. Investors have shown great confidence in the token’s presale. We believe that this presale could be the one to watch in 2023.
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