For the past three months, nothing has been certain in the cryptocurrency market. With a highly volatile nature, cryptocurrencies fell victim to the downward pull of the greater economy that suffered due to increasing inflation and other geo-political trade challenges.
However, cryptocurrency analysts are starting to feel confident about one thing – a new player in the decentralized finance (DeFi) space called Uniglo (GLO). This new project has also entered the radar or whales who have significant holdings in well-established cryptocurrencies. As such, analysts predict that Uniglo will soar before the year ends, outranking the likes of Elrond (EGLD) and Bitcoin Cash (BCH) in 2023.
Uniglo is a new social currency that is community-based. It introduces a treasury that is backed by multiple assets and is directly created, scaled and managed by the Uniglo Community. Thus, these assets serve as an investment portfolio kept within what is called the Uniglo Community Asset Vault. Holders of the GLO token have a voting right as to the types of volumes of digital assets included in the vault and sold eventually at a later time. Many analysts see strong potential for the GLO token to grow since it is supported by an asset vault that is intended for wealth accumulation.
At the rate it is growing, Uniglo could outrank Elrond by next year. Elrond is similar to Ethereum such that it is a blockchain platform for distributed application and enterprise use cases working towards the creation of a new internet economy. The Elrond platform offers fast, secure and highly scalable transactions and has approximately over 2,000 nodes within its network. Elrond is a promising crypto that could have a bright future, currently the price of EGLD is down almost 90% from its previous all-time high. It will need to grow exponentially to catch up with Uniglo’s pace of growth.
Bitcoin Cash (BCH)
Uniglo could also beat Bitcoin Cash when the new year rolls in. As the name suggests, Bitcoin Cash is related to the crypto king. It is a fork of Bitcoin and an altcoin that was created in 2017. However, compared to Bitcoin, Bitcoin Cash can support approximately 25,000 transactions per block. Bitcoin can also support up to 1,500 transactions per block. As such, Bitcoin Cash had so much growth potential when it was launched. By December 2017, the price of BCH hit as high as $4,355. Six months later, however, the price was cut by 80% amidst bearish sentiment. The same trend is happening today. While BCH was predicted to reach as high as $1,000 in 2022, it currently is trading at $130.14.
It would be good to know that Uniglo is still on Phase 2 Presale. As any sound investor may know, the presale season is where the magic begins. The token is still being offered at a low price with matching additional discounts, as is the case with Uniglo’s GLO token. For anyone looking to establish a long-term sustainable cryptocurrency holding, now might be an excellent time to buy into the promising Uniglo project.
For More Information:
Join Presale: https://presale.uniglo.io/register
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