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If your portfolio as a cryptocurrency investor has encountered some difficulties during the bear market in recent months, know that you are not alone.
Let’s go back to the latest developments in the cryptocurrency landscape.
The entire digital asset sector is facing a general inflationary environment; Furthermore, following the Russian invasion of Ukraine in February last year, the US dollar has once again become a safe haven asset for geopolitical reasons. which greatly accelerated the fall of bitcoin (BTC) and all cryptocurrencies.
Even when bitcoin went bankrupt below the support level of $ 20,000, Experts and investors from all over the world began to seriously fear what would happen next. Some of them have even gone so far as to say that Bitcoin’s value will drop to around $ 500; a highly exaggerated estimate as this price has not been reached since August 2016.
Despite announcement of the release of the next update of the Ethereum blockchain (referred to as “the merger”) has had an extremely positive impact on the entire cryptocurrency market, as everyone knows that the ecosystem remains largely correlated with the price of bitcoin, at least for now.
The latter has shown much stronger resistance in recent weeks than previously expected, reigniting investor optimism. The forecasts for the next few months are on the rise, especially for Ethereum (ETH). of which we have already mentioned, but also for Binance Coin (BNB) and Uniglo (GLO).
What is Uniglo (GLO)?
Uniglo is a new project linked to DeFi, or decentralized finance, which provides a means of exchange, purchase and sale with a minimum of intermediaries and therefore theoretically avoids blocking remittances and unexpected expenses.
Uniglo is scheduled to launch on October 18, but the project is already attracting the attention of analysts and enthusiasts of the crypto and DeFi ecosystem, such as It offers a unique mechanism called “Ultra-Burn”. Don’t worry, we’ll come back to this very important point in more detail.
To fully understand why the Uniglo project team uses the term “ultra-burning”, it is important to know that 2% of all sales transactions are burned, ie destroyed. The mastered GLOs are sent to the Uni Abyss wallet, whose private key is unknown. Thus, no one will ever be able to return them, ensuring their destruction in the public eye.
The ultra-burn mechanism, which is a strong point of the project, will reduce the time it takes for GLO to become a rare token. The greater the profit made by Uniglo, the faster its tokens are burned, creating a virtuous circle that benefits early investors.
The Uniglo project aims to get the best of both worlds: the latter wants to keep the supply of tokens relatively low, but at the same time offer sustainable wealth to token holders. The project management team will create 218.75 million GLO tokens, 80% of which will be dedicated to the public. The rest is distributed to liquidity pools, development, marketing and the Uniglo fund.
The GLO token is already on its first presale. All unsold tokens during the presale and launch phase will be “burned” (in French burnt, ie destroyed), which ensures that the scarcity of tokens is the main idea of this project from the very beginning. Therefore, the tokenomic model of the Uniglo project rewards early investors and long-term token holders.