With the cryptocurrency market still within the bear’s grip, investors have been limited in terms of what to do with their portfolios. Many of them are also struggling with the questions of which assets should be sold off and which are worth holding on to.
The new cryptocurrency built on Ethereum might offer some clarity. Uniglo (GLO) is one of the latest additions to the decentralized finance (DeFi) space that provides a sound, alternative path for investors. Its native token GLO is currently on presale, the price of which has grown over 45%. With its strong growth potential, Uniglo could offer more substantial gains than holding on to Binance Coin (BNB) or Bitcoin (BTC).
The initial coin offering of Uniglo commenced last July 15. The new DeFi project has been consistently growing as more investors – including whales – adopt its token.
GLO is a community-based social currency backed by a vault of assets. The Uniglo project recently deployed the GLO Community Asset Vault, in which an assortment of stablecoins and non-fungible tokens (NFTs) are held. This asset collection is intended to create a foundation for GLO, enabling it to remain steadfast regardless of market fluctuations.
Consequently, the demand for GLO tokens is rising because of the vault deployment. The criteria for assets to be purchased and included in the vault are vital to ensuring that GLO is well-supported and that each investor has fractionalized ownership of a valuable investment portfolio. The project continues to develop and is expected to achieve exponential growth once it launches on November 18.
Binance Coin (BNB)
Selling some of your BNB holding to make room for GLO tokens could be ideal in this market. While BNB is a well-established cryptocurrency that powers the most prominent decentralized exchange (Binance Chain), it has been struggling price-wise. In addition, some analysts argue that the Securities and Exchange Commission’s (SEC) issues with the leading exchange platform have taken a toll on BNB.
Bitcoin (BTC) is said to be the money of the new world, but it has certainly not been marked safe from the ongoing global economic turbulence. The price of BTC has been swinging, making a further drop in the third week of September. Macroeconomic tensions continue to weigh on the peer-to-peer payment network, especially as rate hikes from the US Federal Reserve become more aggressive.
The cryptocurrency market continues to grapple with the bear. Perhaps it’s time to let go of some highly volatile digital assets. Invest part of your money in a new crypto gem that is projected to skyrocket.
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