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If you are looking for what’s new in the cryptocurrency industry, it’s time to learn more about Uniglo.io (GLO). This new decentralized finance (DeFi) project recently started the first phase of its presale last July 15, and it has hit the ground running. Within the first 10 days of its presale phase, Uniglo.io has already seen a 25% price surge in its GLO token, which is beyond what Ethereum (ETH) and Stellar (XLM) coin holders could expect for now.
Uniglo.io (GLO)
Uniglo.io is a new DeFi project that is giving the token burn model a facelift. Instead of applying only the standard burn model on all buy and sell transactions, the Uniglo.io community will also implement an idiosyncratic Ultra-Burn Mechanism, which will incrementally drive down the GLO tokens circulating in the secondary market. This novel burn mechanism is essentially a buyback-and-burn approach whereby the community will use its treasury earnings to purchase GLO tokens in the market before burning them.
The project has had an astounding reception among investors and analysts, which has encouraged the 25% increase in the price of its GLO token in such a short span of time. This surge demonstrates a bull run that could push the price toward much higher levels.
Ethereum (ETH)
The price of Ethereum’s ETH coin has been rising over the last week as well, gaining 20% and 39% during the second and third weeks of July respectively. Developers at Ethereum have already set September 19 as the date for the soft launch of the Merge upgrade, which will shift the crypto giant from a proof-of-work to a proof-of-stake consensus process. The price increases for ETH have been a very good sign for all investors. Being the second largest cryptocurrency in the market, Ethereum’s recovery could also spell recovery for many other coins.
Stellar (XLM)
Stellar is a unique decentralized payment system that links cryptocurrencies with fiat. By enabling users to mobilize their wealth across the globe at negligible costs, Stellar has seen steady growth since it was launched in 2014. Strong bullish sentiment would be needed to keep Stellar at a pace similar to that of Uniglo.io’s current growth.
Final takeaway
As the Uniglo.io project nears its public launch in mid-October, the price of its GLO token presents strong potential for gains that could rival whatever Ethereum (ETH) and Stellar (XLM) could offer at this time.
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
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