• The cryptocurrency market experienced a rough ending to 2022 due to the FTX crash.
• MakerDAO (MKR) and Uwerx (WERX) are two cryptocurrencies that present some prospects for the upcoming bull run.
• MakerDAO is a top Ethereum-based DeFi lending protocol, while Uwerx is gaining volume in its presale with over $1 million raised so far.
Overview of Cryptocurrency Market
The cryptocurrency market came off a very rough ending to 2022 after the FTX crash. Prior to that, 2022 saw the downfall of several other centralized and decentralized ecosystems. These patterns often result in two to three years of crypto winter, where users are increasingly paranoid about the market, but we got the opposite reaction. Bitcoin (BTC) hit a high in several months, new tokens have emerged, memecoins are building momentum, and airdrops have caused excitement.
In the midst of all this buildup, MakerDAO and Uwerx are two cryptocurrencies to own. MakerDAO (MKR) is a top Ethereum-based DeFi lending protocol that enables users to take loans against their assets. MakerDAO operates like a bank but without that central authority; there’s a real user on both ends of the spectrum. Users are able to put their money up for lending for some passive yields, and borrowers can come on the protocol to lend funds but with collateral. The collateral is usually another token like ETH, which allows borrowers to get the DAI stablecoin. Stablecoins are used because they protect users and the protocol against the volatility of cryptocurrencies. DAI is the largest decentralized stablecoin and the fourth largest stablecoin, right behind USDT, USDC, and BUSD, so that’s a huge store of value for MakerDAO. Recent news has reported a whale Justin Sun moving a large amount of his holdings to an exchange which could be seen as sell signal however long term narrative for makerdao remains good as bull run approaches .
Crypto investors often look toward assets that can make them money while offering minimal risk during bull run season . Uwerx is one such player in market as its presale continues gain volume . Presale has raised over 1 million dollars with early adopters showing interest in this asset . This shows potential growth opportunities ahead . It also supports smart contracts , allowing developers build dapps on top it . This means more usability potential which could drive price up further when bull runs comes into full swing .
With bullish sentiment taking hold , these two tokens stand out from rest due their unique characteristics . While MakerDao offers secure stable coin backed by multiple cryptos , Uwerx provides platform for developers create applications leveraging blockchain technology while giving access investment opportunities at same time . As crypto market undergoes rapid growth , these two tokens will be ones keep eye out for as they grow alongside industry itself .