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Cryptocurrencies have had an interesting journey since they were introduced to the world in 2008. Bitcoin is perhaps the most infamous example of cryptocurrency’s profit potential, starting at a near-zero valuation before exploding into the tens of thousands of dollars.
However, much of the gains in cryptocurrencies are due to their speculative nature. The value of cryptocurrencies is also increasing as their adoption becomes more widespread.
Today, a new cryptocurrency: Uniglo (GLO) – Introduces a novel way to influence the value of your token. And analysts say that its price increase rate could overtake Litecoin (LTC), Cronos (CRO) and Tron (TRX) and that its valuation mechanism could revolutionize the way cryptocurrencies are currently valued.
Uniglo is a new cryptocurrency in the sphere of decentralized finance (DeFi). Compared to many other cryptocurrencies, Uniglo’s native token, GLO, will not rely on speculation or subjective external forces to shape its value. Instead, the GLO price will be supported by a special mix of assets that will be carefully selected with the aim of weathering storms of price volatility.
To further contain the GLO valuation, the Uniglo project will also take a hyperdeflationary approach to its token supply. The project will initially launch only 218.75 million GLO tokens. Additionally, it will implement an Ultra-Burn mechanism, which will further limit the volume of GLO tokens on the secondary market.
Litecoin is one of the first cryptocurrencies to be introduced to the market. It was developed to compete with Bitcoin, based on the latter’s protocol. While Bitcoin is just a store of value, Litecoin is both a store of value and a mode of exchange. Bitcoin, of course, remains the most popular and widely adopted digital currency in the world. On the other hand, Litecoin has been left behind as new competitors kept entering the market.
Cronos is a decentralized open source network, which is compatible with the Cosmos and Ethereum ecosystems. Cronos’ token is CRO, which is more specifically his proof-of-stake token derived from securing his network. Currently, the total supply of CRO is 30 billion, 25 of which are in circulation. However, at present, the utility of CRO is limited to the exchange, and the network is still in the process of developing a role for CRO in decentralized finance and the broader Web3 landscape.
Tron is a blockchain-based operating system that supports content creation and hosts apps for entertainment. Tron’s TRX token is used to reward users who create or curate content. Therefore, the price of TRX is influenced by its usefulness and by speculation. The foundation behind Tron also initially launched 100 billion TRX tokens. Currently, approximately 92.4 billion TRX tokens are in circulation.
Today speculation and popularity play a major role in shaping the value of digital assets. However, as the cryptocurrency market matures, digital currencies and digital assets coming onto the market are upping the game as well. For Uniglo, it could be a game changer by revolutionizing the way cryptocurrencies are valued.
Learn more here:
Join the presale: https://presale.uniglo.io/registrar