As the cryptocurrency market continues to consolidate, some coins are feeling the heat more than others. New Ethereum-based social currency Uniglo (GLO) seems to be among the top best-performing projects, with a significant price surge of over 45%. However, while new gems are gaining traction, old members like Cardano (ADA) and Dogecoin (DOGE) seem to struggle to hold the ground. Let’s have a closer look at each project for a better understanding.
Uniglo (GLO)
Uniglo, a fully asset-backed social currency based on the Ethereum blockchain, is establishing new standards in the DeFi sector and giving solutions for market instability. Despite not yet being accessible to the general public, the value of Uniglo has risen by over 45%.
Uniglo offers remarkable burn mechanisms that not only destroy tokens with each transaction but also repurchase coins over time in order to burn even more. Thus, it is entirely deflationary and should grow rarer over time.
The groundbreaking GLO vault serves as a comprehensive archive for various assets. These vaults are accessible across many chains, and the public may also inspect the addresses to determine what the community owns. This vault’s primary purpose is to support the native token GLO. Furthermore, the assets in these vaults are fractionally owned by GLO holders, and the longer they hold GLO, the more they profit from vault’s and GLO’s price increase.
These characteristics make GLO the ideal solution to the world’s inflation troubles, and those who invest in GLO before its November debut might be positioning their portfolios for tremendous profit.
Cardano (ADA)
Cardano (ADA) is a proof of stake blockchain that aims to be a more efficient alternative to proof of work (PoW) networks. Cardano considers itself an improved version of Ethereum and has labeled itself a “third-generation” platform, as opposed to Ethereum’s “second-generation” status. It is the first proof of stake protocol designed to reduce the amount of energy required for proof of work mining.
Despite being a pioneer in several aspects, Cardano lacks the fortitude to overcome the market’s regressive inclinations.
Dogecoin (DOGE)
Dogecoin (DOGE) is a cryptocurrency that originated as a joke about cryptocurrency price speculation. The inventors wanted to create a currency that no one would invest in seriously, but things did not proceed as planned.
Since the inception of this cryptocurrency, there has been no lack of individuals seeking to invest in Dogecoin. Its price increased by more than 15,000% over the first half of 2021, making it the most valuable meme coin in the world. However, the enthusiasm has subsided, and DOGE has been declining since then.
The primary distinction between DOGE and GLO is its inflationary character. There are presently more than 130 billion Dogecoins in circulation. It is an inflationary coin, meaning there is no limit to supply. Meanwhile, GLO is a hyper-deflationary token with a total supply of only 217,100,000 tokens that will be further reduced by aggressive burning processes.
Regardless of how high demand rises, the supply will always exceed demand in terms of DOGE, indicating that price hikes are not anticipated for everyone’s favorite meme-coin.
Overall, it seems the market now has a new favorite coin – Uniglo (GLO). Its gorgeous features give investors hope for a bright future.
Learn More About Uniglo:
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
