Given the downfall of a renowned centralized exchange, FTX, and the possibility of others following suit, users are now turning towards DeFi protocols. Traders and investors realize that the very concept of decentralization can be best implemented through DeFi. Trusted protocols like Uniswap and Curve have experienced a significant increase in user base and transactions, while Uniglo is in the accumulation phase after a massive launch.
The race to dominate DeFi is getting tougher by the day, but the mass exodus of wealth from centralized platforms is a good sign for this sector. There's a paradigm shift happening at the moment where an average investor is looking more for consistent gains than short-term hype. This is what Uniglo brings to the table with its multi-asset-backed crypto, GLO. This social currency has real-time backing in the form of cryptos, collectibles, digitized gold, and even NFTs. They not only protect the floor value of the token but also boost the treasury of the ecosystem.
After going through a successful presale round, Uniglo experienced a huge spike in value owing to a massive burn event. While this was expected to trigger a selloff, it did not last long. According to experts, $GLO is currently in a strong accumulation phase with the whole DeFi market heating up for a possible reversal.
Two of the largest decentralized exchanges in the DeFi space, Curve and Uniswap are looking good to reverse the market direction. Both protocols have been successful in building an extremely efficient DEX to trade liquid derivates and coins. Regardless of the market share occupied by different platforms, the major ones will play a pivotal role in keeping DeFi alive.
There's no denying that the crypto industry is attracting the attention of big players and institutions; especially the ones related to finance. Uniglo, with its hyper-deflationary tokenomics and asset backing, brings a new dimension to the DeFi space. It is designed to stomach market volatility without compromising long-term growth. Smart investors who understand the potential of this project are accumulating it at a discount. It would be interesting to see how it performs in the next bull run.
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
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