As markets are still picking up the shards with the ongoing Ukraine-Russia conflict and post-pandemic aftermath, crypto continues to innovate and deliver new use cases daily. While market sentiment suppresses the growth of many projects, some manage to show...
As markets are still picking up the shards with the ongoing Ukraine-Russia conflict and post-pandemic aftermath, crypto continues to innovate and deliver new use cases daily. While market sentiment suppresses the growth of many projects, some manage to show considerable numbers to the surprise of their investors.
One of those runner-ups is Uniglo.io (GLO), with astonishing 55% growth, while Cardano (ADA) And Polkadot (DOT) are still struggling to break above the downtrend. Here is why:
The DeFi project with the GLO token at its center, Uniglo.io, seems to defy any market pressure and is immune to crisis. A good reason for this resilience might be its Ultra Burn mechanism in symphony with the so-called ‘GLO Vault,’ which acquires digital assets such as Paxos Gold (PAXG) or The Sandbox (SAND). Once deemed profitable, the vault trades these assets, and profits go partly towards the buyback and burn. As a result, GLO appreciates, and scarcity increases thanks to the Ultra Burn mechanism.
Uniglo.io’s launch is set for the 19th of November, and analysts advise investors to get some exposure to $GLO to avoid missing out.
ADA, the coin of Cardano, is one of the biggest cryptocurrencies by market cap. Its famous founder Charles Hoskinson designed the chain to be scalable and host smart contracts and dApps. However, despite the highly anticipated Vasil hard fork being around the corner, current market sentiment prevents ADA from breaking the downtrend.
Polkadot and its governance coin DOT could be described as an intermediary blockchain protocol to facilitate communication and data exchange between incompatible blockchains. It utilizes so-called parallel chains to scale and offer speed and scalability. Besides this already massive use case, the protocol also provides staking options.
While Cardano and Polkadot are still trying to break the downtrend and gain momentum, Uniglo.io has already surged 55%, with more upside to be expected. As previously mentioned, GLO’s presale is still available to buy, with a scheduled launch on the 19th of November.
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