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We all thought the cryptocurrency market was preparing for a major rally when Bitcoin (BTC) finally broke through the $23,000 resistance level sometime in August. Unfortunately, the crypto king is back in the trenches along with other major cryptos such as Fantom (FTM). The struggle is real for these digital currencies, which have been in the market for many years and have developed a steady stream of transactions and sizeable communities. Many long-time holders of FTM and BTC see a dreary situation and hope for a genuine bull run to finally stick.
While some of the most notable cryptos are struggling, however, a new project is giving hope to its token holders and prospective new investors. The Uniglo (GLO) project is a community-based social currency that could change things up in the decentralized finance (DeFi) space. This project has been catching the eye of many large investors and market watchers since the first week of its presale wherein the price of its GLO token surged 25%. The project continues to grow and is set for a potentially explosive launch this October 18.
The yield-oriented functions of Uniglo (GLO)
The Uniglo project was designed according to lessons learned from the mistakes of cryptos that came before it. It does not solely rely on the speculative growth of digital assets; rather, it takes advantage of the capability of cryptos to establish a balance between the supply and demand sides.
To further the demand for GLO, the project will maintain a community asset vault that will house various assets such as digital currencies, digitized gold, and noon-fungible tokens (NFTs). This vault will appreciate in value and at the same time drive the demand for GLO tokens. To keep the price of GLO moving upward, the supply of the token will also be controlled by way of an idiosyncratic Ultra-Burn Mechanism.
Fantom (FTM)
Fantom struggles to gain momentum in this market amidst the sell-off momentum that occurred in the middle of 2022 as well as a documented exploitation of a DeFi application on its blockchain. Fantom has been considered one of the platforms touted as “Ethereum killers,” a next-generation blockchain platform for distributed applications, enterprises, and EVM developers.
Bitcoin (BTC)
Bitcoin is, of course, the king of cryptocurrencies. It is the decentralized digital currency that put cryptocurrency on the map for the general public. Bitcoin is the most expensive and perhaps most ubiquitous digital currency in the world and has many applications in payment and trading across markets and industries. However, while many financial systems seek to integrate Bitcoin, most of them still do not fully understand the potential and risks and thus fail to optimize BTC.
Final takeaway
As the Uniglo project nears its public launch in mid-October, the demand for GLO tokens is also continuously pushing the token price. Analysts expect the price of GLO to surge exponentially within the fourth quarter of the year. Interested parties can still take part in Uniglo’s presale and acquire their share of the GLO token supply before the project’s launch.
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
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