Uniglo (GLO) Finds its Footing Amongst Top Cryptos Ethereum (ETH), Shiba Inu (SHIB), and VeChain (VET)

A select group of users and investors in the cryptocurrency space are finding themselves in a better mood after stumbling upon the latest project in the decentralized finance (DeFi) space called Uniglo (GLO). This project recently started its presale and has been growing and earning fast. Uniglo is quickly rising and finding its place among the likes of Ethereum (ETH), Shiba Inu (SHIB), and VeChain (VET).

Uniglo (GLO)

Uniglo is a new community-based social currency that sets itself apart from its predecessors by introducing an idiosyncratic Ultra-Burn Mechanism. The project will maximize the power of scarcity by keeping the maximum supply of GLO tokens minimal and buying back tokens in the market to completely remove them from circulation. As the supply decreases, the value of the GLO token will ideally increase, leading to benefits for its holder.

Other than its unique token burn approach, Uniglo's social currency will also be backed by assets. The project will hold a Uniglo Community Vault for assets like digital currencies, rare non-fungible tokens (NFTs), and digitized real-world collectibles. With the right mix of assets, as voted upon by the community, Uniglo will have a well-supported token that ideally will not be as affected by volatility factors as most other cryptocurrencies.

Ethereum (ETH)

Ethereum, the second largest cryptocurrency in the world by market capitalization, has a big move coming up. The blockchain network is set to shift from a proof-of-work consensus to a proof-of-stake consensus in an event simply coined as the "Merge." This move should make transactions on Ethereum cheaper and faster, which should galvanize the ecosystem's position in the market, and even potentially enable it to outrank Bitcoin. Most analysts and even founders of competitor chains have said that the shift is long overdue. Once the Merge is successfully completed, many Ethereum-based applications and projects, including Uniglo, will certainly benefit.

Shiba Inu (SHIB)

Shiba Inu is the popular dog coin that was launched in August 2020. This crypto has had its share of ups and downs, but it has generally had an optimistic trend, considering that we are still in the trenches of a bear market. Shiba Inu has established remarkable relationships with users and whales who remain loyal to it regardless of the market situation. Recently, gains with the SHIB coin reached 31%, which is beyond what Bitcoin could manage. SHIB has also taken over Avalanche's AVAX and is gaining in on Dogecoin (DOGE) fast.

VeChain (VET)

The VeChain (VET) project has been around for a while. This blockchain network was launched back in 2018 and was geared toward providing real-world solutions. It has a native token, VET, which is used to exchange value when using smart contracts and decentralized applications in the network. While most cryptocurrencies are focused on finance solutions, VeChain is uniquely focused on providing solutions for supply chain management, carbon management, energy, medicine, automobile, sustainability, and others. As such, this project is increasingly gaining importance in the cryptocurrency sphere.

The bottom line

While there are many well-established cryptos in the industry, Uniglo nonetheless successfully finds its footing amongst the top players. As the project unfolds further, more growth and rewards could be expected from Uniglo.