Uniglo (GLO) has great potential despite cryptos like Polkadot (DOT) and Binance Coin (BNB) in strong downtrend
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In recent years, we have seen exponential growth in the crypto market. This has ushered in a new economic era, with a new set of rules and opportunities. Many projects are designed to provide a solution to the various problems faced by the traditional financial system.
The current bear market has been decisive for many altcoins. However, innovative projects like Uniglo (GLO) seem to have great potential despite Polkadot (DOT) and Binance Coin (BNB) facing downward trends. Let’s learn more about GLO.
Uniglo (GLO)
Incorporating scarcity through an eccentric ultra-burning 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. Because of this, GLO represents a move away from using a gold standard and supports real 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 hyperdeflationary token model enabled by the burning mechanism will increase the rarity and value of the $GLO token.
What gives Uniglo (GLO) leverage in the current market?
The Uniglo Ultra Burn Mechanism will use the proceeds from the sale of assets valued in the Uniglo Vault to purchase and burn Uniglo tokens in addition to burning 2 percent of the token for each buy and sell transaction. As the token’s supply decreases over time, this deflationary strategy ensures long-term sustainable price growth. Uniglo set a DAO voting system to accomplish this, so everyone can have a say as a community as Uniqlo evolves and glows.
Uniglo will contain a mix of volatile and stable cryptocurrencies, digital real estate and unusual NFTs to protect against market fluctuations and bear markets. Uniglo’s aim is to create a coin whose value will increase over time, by offering unlimited burning.
Uniglos (GLO) Tokenomics
A maximum of 175,000,000 (175 million) GLO will be set aside from the total supply for the community issue, with any remaining GLO after the pre-sale stage being burned to reduce 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 pre-sale format yet, but will reach the public in October 2022.
Polkadot and Binance coins in a strong downtrend
Since October 2021, the market value of DOT has decreased. The growing interest from investor funds contradicts this. The statistics on the supply held by whales also show that wealthy DOT investors have sold off their holdings. This is in accordance with the unfavorable and unpredictable market conditions.
The same is true for Binance Coin (BNB). It has been in a consistent downward trend. There were times when prices rose significantly, for example in early February and mid-March, to $450. However, the price failed to break the downtrend despite these gains.
Lately, the data points to a minor change in momentum in favor of the bulls. As a result, BNB could rise to USD 250 and maybe even further if Bitcoin gains some momentum, which is relatively difficult to imagine in the current market.
The bottom line
A beginner 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 the pre-sale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Disagreement: https://discord.gg/a38KRnjQvW
