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In recent years, we have seen 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 faces.
The current bear market has been crucial for lots of altcoins. However, innovative projects like Uniglo (GLO) seem to have a huge potential despite Polkadot (DOT) and Binance Coin (BNB) facing downtrends. Let’s learn more about GLO.
Uniglo (GLO)
Incorporating scarcity through an eccentric ultra-burn process, GLO is a community-based social currency backed by digitalized tangible assets, currencies, and rare NFTs.
The need for the crypto community to reduce market volatility is more pressing than ever. Due to this, GLO represents a move away from using a gold standard and backs genuine tangible assets with a balanced “basket” of valued 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 ground-breaking burning mechanism. The hyper-deflationary token model made possible by the burning mechanism will increase the $GLO token’s rarity and worth.
What Gives Uniglo (GLO) Leverage In The Current Market?
The Uniglo Ultra Burn Mechanism will use the proceeds from selling assets appreciated in the Uniglo Vault to Buy and Burn Uniglo tokens in addition to burning 2 percent of the token for each buys and sells transaction. As the token’s supply declines over time, this deflationary strategy ensures long-term sustainable price growth. Uniglo put a DAO voting system to carry this out so that everyone may have a say as a community as Uniqlo develop and glow.
Uniglo will contain a mix of volatile and stable cryptocurrencies, digitized real estate, and uncommon NFTs to protect against market swings and bear markets. Uniglo’s goal is to create a coin whose value will increase over time, by offering indefinite burning.
Uniglo’s (GLO) Tokenomics
A maximum of 175,000,000 (175 Million) GLO will be set aside from the overall supply for the community issue, with any remaining GLO after the presale 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 available in presale format yet but will reach the public in October 2022.
Polkadot And Binance Coin In A Strong Downtrend
Since October 2021, the market capitalization of DOT has decreased. The rising interest from investor funds runs counter to this. The supply owned by whales statistic also demonstrates that wealthy DOT investors have sold off their holdings. This is consistent with the adverse and erratic market circumstances.
The same is true for Binance Coin (BNB). It has been in a consistent downward trend. There were times when prices rose significantly, such as in early February and mid-March, to the USD 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 may rise to USD 250 and maybe even farther if Bitcoin gains some momentum, which is relatively hard to imagine in the current market.
Bottom Line
A newbie Uniglo spreads positive signals due to its innovative Ultra Burn Mechanism. While oversupply has become a reason for projects like SHIB to shrink, GLO’s approach seems more promising and optimistic.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
