On the 19th of November, Uniglo.io (GLO) is scheduled for a public launch. Investors who want to take part in one of the most explosive launches this year need to pay attention. Uniglo.io is a multi-asset-backed cryptocurrency intended to withstand bear markets and price volatility. The team behind the project intends to hit the ground running by conducting a massive token burn right after the project launch. With that, a large portion of the total supply of GLO disappears forever, pushing the token price to unprecedented levels.
Uniglo.io (GLO) is a new social currency nearing the end of its initial coin offering (ICO). It is part of the larger Ethereum chain. However, it sets itself apart from other projects by ensuring a more stable cryptocurrency backed by a diversified basket of digital assets. Uniglo.io maintains an Asset Vault that houses cryptocurrencies, non-fungible tokens (NFTs), and other digitized forms of valuable physical items. As a decentralized autonomous organization (DAO), Uniglo.io is designed with the recognition that not everybody can buy and own cryptos and NFTs confidently.
Another main feature of this project is the Ultra-Burn Mechanism. This special token-burning system removes a percentage of every buy or sell transaction within the platform. It also involves buying back native tokens from the market and burning them, keeping GLO constantly in demand and pegged at a healthy price.
The Uniglo.io team plans to limit the supply of GLO tokens in the market immediately after the project’s launch on the 19th of November. This burn event is expected to involve a high percentage, indicating an opportunity for GLO to surge past Shiba Inu (SHIB).
Shiba Inu (SHIB)
Similar to Uniglo.io, token burning plays a big part in Shiba Inu (SHIB), an Ethereum-based cryptocurrency launched as a non-mining digital currency in 2020. A group of unknown developers created Shiba Inu with a shared passion for dog coins. SHIB developers created a metaverse where users can engage in active gaming, exploration, and creativity while earning passive income. The currency quickly gained acclaim among the Shiba-loving community due to its wide distribution and unique proposition. It has long been one of the market’s top 15 cryptocurrencies. However, price volatility has always been a major problem for the token.
The bottom line
In 2023, Uniglo.io could already be one of the top cryptocurrencies in the market. While it has a relatively low market capitalization, it has a very strong potential for growth, owing to its vault and the Ultra-Burn Mechanism. After the launch of Uniglo.io, the project will conduct a massive token burn that will propel the price of GLO. The token remains available at its presale price but only until the middle of November. The project is also set to have one final price increase before the launch.
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