Recent on-chain data shows the Layer-2 platform, Arbitrum (ARB) gearing up for a rebound as Litecoin (LTC) and Uwerx (WERX) reach new heights. These impressive results come amidst a slow crypto market.
How far can these cryptos go to maintain positive returns for traders? Let’s look at their current state and the prospects for Uwerx.
Arbitrumn (ARB) Poised for Potential Rebound
Following the $1.16 pullback, Arbitrum (ARB) is reclaiming the $1.20 zone. Despite price oscillations, on-chain data signals a bullish stance. Arbitrum whales remain stalwart, suggesting potential upward momentum.
ARB, an Ethereum scaling solution, shines in speed and cost efficiency. Despite a slow May start, ARB traction this week has surged. A majority of ARB holders are near break-even as Arbitrum whales maintain positions. This could spur more accumulation.
Whales increased holdings, amassing 10 million additional ARB. This implies a bullish sentiment among influential investors, possibly encouraging other strategic investors. Active users on the Arbitrum network have also risen, implying high demand for its underlying technology. This uptick might prompt ARB whales to buy again.
MVRV ratio analysis suggests a possible rally toward $1.50 but with potential resistance at $1.25. However, if the bullish price prediction plays out, ARB could reach $1.50. A fall below $1.10 could usher in bearish sentiments, yet the loss-averse behavior of holders may provide a cushion, averting a drop below $1.
Litecoin Blockchain Surges to All-Time Highs as Meme Coin Frenzy Drives Transaction Volume
Cryptocurrency enthusiasts are seeking alternatives amidst high fees and the frenzy surrounding meme coins. As a result, Litecoin seems to be receiving much-deserved attention, culminating in an all-time high in transaction volumes.
BitInfoCharts reports that on the 8th of May recorded a staggering total of over 525,000 daily transactions on the Litecoin blockchain. This is almost comparable to the record-breaking 575,000 transactions set by Bitcoin.
The surge in Litecoin’s volume is significant, representing a fivefold increase compared to earlier this year. This number also surpasses the previous record-high number of transactions seen during the January 2018 bull market peak.
Glassnode data further indicates a wave of new users, with over 700,000 active wallet addresses recorded on Monday alone. Additionally, nearly half a million new Litecoin addresses were created in a single day.
Uwerx: Transforming Freelance Work with Blockchain Technology and 1% Fees
As the global gig economy expands rapidly—dominated by the US but with India, Indonesia, Australia, and Brazil emerging as robust markets—Uwerx harnesses the power of blockchain to revolutionize the freelance industry.
Boasting over 5,000 sign-ups and an all-time high, Uwerx provides exceptional services at a mere 1% fee, a significant undercut to traditional platforms charging commissions as high as 20%. During its presale period, the platform’s integral WERX tokens are available at $0.0225 each, with analysts predicting a rise to $1.2 by Q3 2023.
Now in its 4th Phase and quickly approaching the 5th, the Uwerx presale continues its meteoric growth as both freelancers seeking a reliable platform and crypto investors hunting for stable opportunities flock to it.
Offering an enticing 20% presale bonus, Uwerx gears up for the Alpha release version launch on the 19th of May, 2023, with a beta version to follow. With Uwerx, the future of freelancing looks decentralized, secure, and profitable.