If you are searching for a profit-making cryptocurrency today, start learning about Uniglo (GLO), which is a new decentralized finance (DeFi) project that is soaring. Uniglo recently commenced the first phase of its presale, and it is doing spectacularly well. It demonstrated a price gain of more than 25% even before completing its first 10 days of preselling.
The real good news, however, is that analysts expect another price spike to happen. As giants like Bitcoin (BTC) and Ethereum (ETH) continue to struggle, Uniglo offers the necessary breathing room for investors. As such, it has started to attract whales and other major investors.
What is Uniglo anyway? Uniglo is a community-based protocol that aims to underpin the value of its GLO token to a good mixture of assets. It will maintain a Uniglo Vault for all assets acquired by the community, which could include digital currencies, non-fungible tokens, and other digitized tangible collectibles.
This vault enables token holders to have fractionalized asset ownership of an impressive portfolio. Moreover, token holders benefit from the appreciation of these assets. As such, the current spike in the price of its GLO token could be an early indication of how much Uniglo could achieve in the future.
Uniglo is spiking amidst the unreliable ups and downs of Bitcoin. The crypto king has successfully broken free from the $22,000 resistance level and even briefly touched $24,000. It is trading at $23,598 as of this writing. While the price seems to signal a break for Bitcoin, other fundamental metrics like trading volume and market inflows still indicate a persistent bear market. With that, some analysts are saying that the price increase of Bitcoin in recent days might be misleading.
The price of ETH was $1,687 as of this writing. This amount is slightly above the $1,600 resistance level that many analysts were waiting for. However, much of ETH’s price surge is owing to the peculiar price increase of Bitcoin. Ethereum is banking on the finalization of its Merge project in which the network finally shifts to a proof-of-stake consensus. This shift has been a long time coming, with a few analysts saying it could provide the platform for Ethereum to take the top spot in the cryptocurrency industry.
The bottom line
While Bitcoin and Ethereum wade through uncertainty, investors can take advantage of the price hikes in newcomer Uniglo. The latter just began preselling and, as such, another price hike could be on the way.
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