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A new gem has entered the cryptocurrency game – Uniglo (GLO). This new player is a decentralized finance (DeFi) project that introduces a social currency underpinned by multiple assets. Last July 15, Uniglo commenced the first phase of its presale; and within its first week, the project saw a 25% growth. This surge indicates bullish news – good news! – for prospective investors.
What is Uniglo (GLO)?
Uniglo is a new project that is backed by digital currencies, rare NFTs, digitized gold, and other digitized real-world assets. This means that its GLO token has the capability to grow aggressively like digital currencies but also has the ability to handle the dangers of price volatility and market fluctuations.
This project also introduces a new token-burning concept called the Ultra-Burn Mechanism that mirrors the buyback-and-burn model. By using the gains generated from its asset vault, the Uniglo community will purchase GLO tokens in the market and burn them, removing tokens permanently and reducing the overall supply. The goal here is to drive token scarcity and thus generate more value for loyal token holders.
Binance Coin (BNB)
The Binance Coin, of course, powers the popular and trusted Binance Chain. Unfortunately, BNB has yet to take on bullish momentum. The price of BNB has been showing resistance lately amidst Uniglo’s 25% price growth. Nonetheless, as the Binance network remains the world’s largest cryptocurrency exchange that offers a range of promising use cases and functionalities, BNB is expected to recover – though this may take some time.
Polkadot (DOT)
Polkadot is one of the most reputable blockchains in the industry. It is regarded for providing interconnectivity and interoperability between blockchains. However, the price of its DOT token has also been showing resistance recently. The price of DOT is down 86.45% from its all-time high. While the token made some gains over the last week, these gains have been minimal. Moreover, they are overshadowed by the fact that the volume of DOT dropped by more than 38% on July 20. To fight this resistance, bulls have to rally for Polkadot’s token.
The bottom line
As major cryptos struggle to make even minimal gains in this economy, Uniglo is a breath of fresh air. Its 25% price growth is especially terrific news for those who have already acquired GLO tokens during the first days of Uniglo’s presale. As the first phase of presale continues until August 15, interested investors have ample time to learn more about this new crypto gem.
For More information:
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
This news is republished from another source. You can check the original article here
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