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In recent years, we have witnessed an exponential growth in the crypto market. This has led to a new economic era, with a new set of rules and opportunities. Many projects have been created to provide a solution to the various problems that the traditional financial system is facing.
The current bear market has been pivotal for many altcoins. However, innovative projects like Uniglo (GLO) seem to have huge potential despite Polkadot (DOT) and Binance Coin (BNB) facing downtrends. Let’s learn more about GLO.
Incorporating scarcity through an eccentric ultra-etching process, GLO is a community-based social currency backed by digitized tangible assets, currencies and rare NFTs.
The need for the crypto community to reduce market volatility is more pressing than ever. For this reason, GLO moves away from using a gold standard and backs real tangible assets with a balanced “basket” of valuable digital assets. Uniglo GLO attempts to balance wealth preservation and growth speculation through digital art, cryptocurrencies and even rare collectibles.
The Uniglo protocol also uses a revolutionary burning mechanism. The hyper-deflationary token model made possible by the burn mechanism will increase the scarcity and value of the $GLO token.
What gives Uniglo (GLO) leverage in today’s market?
The Uniglo Ultra Burn mechanism will use proceeds from the sale of appreciated assets in the Uniglo vault to buy and burn Uniglo tokens in addition to burning 2% of the token for each buy and sell transaction. As the supply of tokens decreases over time, this deflationary strategy ensures sustainable long-term price growth. Uniglo has set up a DAO voting system to carry this out so that everyone can have a say as a community as Uniqlo grows and shines.
Uniglo will contain a mix of volatile and stable cryptocurrencies, digitized real estate and rare NFTs to protect against market fluctuations and bear markets. Uniglo’s goal is to create a coin that will increase in value over time, providing indefinite engraving.
Uniglo Tokenomics (GLO)
A maximum of 175,000,000 (175 million) GLO will be set aside on the global supply for the community issue, with any remaining GLO after the pre-sale stage being burned to reduce the supply. Early backers and public holders are favored by Uniglo’s Tokenomics model, which uses its unique technique to establish a stable price floor. The remaining tokens will be used for development and marketing, primarily for investors.
GLO is still available for pre-sale but will hit the public in October 2022.
Polkadot and Binance Coin in a strong downtrend
Since October 2021, the market capitalization of DOT has decreased. The growing interest of investor funds runs counter to this. The supply statistic held by whales also shows that wealthy DOT investors have sold their holdings. This is consistent with the unfavorable and erratic market circumstances.
The same goes for Binance Coin (BNB). It has been in a constant downward trend. There have been times when prices have increased significantly, such as early February and mid-March, all the way to the $450 mark. However, the price was unable to break the downtrend despite these rises.
Lately, the data points to a minor change in momentum in favor of the bulls. As a result, BNB could reach $250 and possibly even more if Bitcoin gains momentum, which is relatively hard to imagine in today’s market.
A Uniglo beginner spreads positive signals thanks to its innovative Ultra Burn mechanism. While oversupply has become a reason why projects like SHIB are shrinking, GLO’s approach looks more promising and optimistic.
Learn more here:
Join the presale: https://presale.uniglo.io/register