The crypto markets are moving. September will see the long-awaited Ethereum Merge, August’s CPI data, and another rate hike by Jerome Powell. All these events are making markets volatile, and the sentiment seems to be bearish one day and bullish the next, with investors uncertain about where to turn.
However, one surprising crypto project has ignored the choppy conditions and continues to gain. Uniglo (GLO) is an Ethereum-based social currency promising investors an organic store of value that grows over an extended period. It benefits from the market confusion as investors wade into the presale, looking to diversify. If it can continue its current trajectory, it will soon break into the top 100 crypto projects alongside Ravencoin (RVN) and Nexo (NEXO).
Investigating the project’s whitepaper shows that Uniglo certainly has the potential to enter the top crypto projects. Still, the real question is how many investors will join it at the ground level?
Uniglo’s whitepaper outlines that GLO, the native token, was designed in reaction to the rapid decline of fiat’s value and the overwhelming volatility within the digital asset space. GLO was created to offer a store of value that grows, enabling investors to retain their actual purchasing power, and the protocol implements buy and sell taxes to facilitate this.
A part of every transaction goes to asset acquisition. The Uniglo Vault holds a collection of digital and physical assets which make GLO value-backed and allows the valuation of the Vault to grow in tandem with economic conditions. Something driving GLO’s astounding price action is the exposure to high-end luxury items. Investors also consider the timing of the Vault; if the Vault acquires these assets in the bear market, imagine its valuation in the bull market. On top of this, Uniglo also implements a highly aggressive burning strategy making GLO a truly hyper-deflationariy token.
Ravencoin is a hard fork of the original blockchain code that is focused on allowing users to issue tokens on the Ravencoin blockchain. It enables users to mint their own tokens specifying the quantity and other properties, and its utility application is enormous.
Ravencoin blockchain can be used to mint tokens granting access to a venue or to create a token that tracks the price of a real-world commodity such as gold, and all of this can be done within minutes. Ravencoin brings security and more robust trading to the digital asset space and deserves its spot in the top 100 projects.
Nexo is a crypto bank. It is the intermediary step between fiat currency and digital currency. Users can buy, earn, borrow, and trade on this platform. Specialising in crypto collateralised loans, anyone with digital assets can instantly get a loan on this platform.
NEXO, the native token, entitles users to lower interest payments on loans, increased interest payments on deposits, and dividends from Nexo’s profits. It is an actual profit share mechanism to reward investors and one of the better utility tokens belonging to a centralised exchange.
Find Out More Here
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.