A fascinating part of crypto bear markets is the price action. When hype is removed from the sphere and in a macroeconomic risk-off environment, is it only projects delivering needed utility that can thrive. In lots of regards, investing in a bear market is far easier than investing in a bull market. The famous adage perfectly encapsulates this idea: ‘A rising tide lifts all boats.’
In the bear market, utility is everything and projects with shaky value propositions crumble. A new Ethereum-based token, Uniglo (GLO) has delivered a long-term value store and continues attracting a swelling base of investors. GLO is on track to reach a price target of $1.20 and will achieve this way before Cronos (CRO) or Algorand (ALGO).
Uniglo (GLO)
Uniglo’s price has soared in past weeks as growing numbers of investors participate in the presale. Many investors are purchasing GLO to hedge against the expected further market downturn. Uniglo has created a store of value by leveraging two central principles: asset ownership and deflation. GLO represents a diversified portfolio by housing a collection of digital and physical assets and its exposure to high-end physical assets such as gold and fine art makes it more resilient to the prevailing market conditions.
Its deflationary mechanism, Ultra Burn, sees 2% of every transaction sent to a wallet with an unknown private key called the Uni Abyss. By constantly decreasing the total supply, Uniglo ensures an always appreciating valuation of GLO.
Cronos (CRO)
CRO is the utility token of the popular centralized exchange Crypto.com. Primarily designed to push the mass adoption of cryptocurrency as a payment system forwards, it has been incredibly successful. But the main attraction of this token is the benefits it entitles holders to within the Crypto.com ecosystem. When staked, it unlocks the visa card and increases the staking rewards for all tokens on the…
