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Inflation ravages the globe, and money buys less than it did a year ago. What is the cause of this? Excessive monetary expansion by central banks, by printing more money, they have devalued the currency.
With more money chasing the same amount of goods, naturally, goods command a higher price. Unfortunately, the current inflation combines the worse elements of both; due to supply chain issues and an increase in the money supply, more money chases fewer goods, exacerbating the pain.
Uniglo.io has announced it will decrease its total supply by up to 25%, and Ethereum network analysts who have seen the success of reducing ETH issuance post Merge expect an enormous price pump.
Uniglo.io
Uniglo‘s announcement has excited early investors, and for a good reason. Scarcity drives value. The lower the total supply, the greater the value of each token. Uniglo’s provision of a store of value revolves around asset ownership. Through buy and sell taxes, the protocol purchases and stores a unique blend of digital assets that value-back GLO.
Additionally, it undertakes a drastic burn strategy, and now with this enormous burn announcement, GLO looks ready to make a violent move to the upside. Even Darryl Boo, a YouTuber specializing in recognizing small-cap gems, has noticed. So the following months promise to be very exciting for GLO holders.
Ethereum
Since the Merge, the Ethereum network has issued far less ETH for security. Instead of paying miners to secure the network, investors now stake ETH. Combined with EIP (Ethereum Improvement Proposal) 1559 burning a portion of all gas fees, Ethereum steadily moves towards becoming a deflationary token, or ‘UltraSoundMoney.’ This movement has caused ETH’s price to perform spectacularly and led many protocols to angle towards deflationary tokenomics.
Closing Thoughts
Ethereum network analysts have already seen the effect of ETH moving closer to becoming a deflationary token. GLO’s status as a hyper-deflationary token understandably excited them and led to confident statements that GLO will pump hard in the coming months.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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