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Cryptocurrency has had an interesting ride since it was introduced to the world in 2008. Bitcoin is perhaps the most infamous example of the earning potential of crypto, starting with a valuation of close to zero before exploding to tens of thousands of dollars.
However, much of the gains in cryptocurrencies have been fueled by their speculative nature. The value of cryptos also increases as their adoption becomes more widespread.
Today, a new cryptocurrency — Uniglo (GLO) – introduces a new way to influence the value of the token. And analysts say the price gains could surpass Litecoin (LTC), Cronos (CRO) and Tron (TRX), and that the valuation mechanism could revolutionize how crypto is currently evaluated.
Uniglo is a new cryptocurrency in the sphere of decentralized finance (DeFi). Compared to many other cryptos, the original token of Uniglo, GLO, will not rely on speculation or subjective external forces to shape its value. Instead, the price of GLO would be underpinned by a special mix of assets that would be carefully picked with the goal of weathering through price volatility storms.
To further contain the valuation of GLO, the Uniglo project will also take a hyper-deflationary approach to token delivery. The project will initially issue only 218.75 million GLO tokens. Moreover, it will implement an Ultra-Burn Mechanism, which will further limit the volume of GLO tokens in the secondary market.
Litecoin is one of the earliest cryptocurrencies to be introduced to the market. It was developed to compete with Bitcoin, based on the protocol of the latter. While Bitcoin is only a store of value, Litecoin is both a store of value and a mode of exchange. Bitcoin, of course, remains the most popular and widespread digital currency in the world. On the other hand, Litecoin has lagged behind, as new competitors kept entering the market.
Cronos is a decentralized open source network, which is compatible with both the Cosmos and Ethereum ecosystems. The token of Cronos is CRO, which is more specifically the proof-of-stake token that comes from securing the network. Currently, the total supply of CRO is 30 billion, of which 25 are in circulation. However, currently the utility of CRO is limited to exchanges, and the network is still developing a role for CRO in decentralized finance and the larger Web3 landscape.
Tron is a blockchain-based operating system that supports content creation and hosts applications for entertainment. Tron’s TRX token is used to reward users who create or curate content. The price of TRX is thus influenced by the utility as well as by speculation. The foundation behind Tron also initially issued 100 billion TRX tokens. Currently, approximately 92.4 billion TRX tokens are in circulation.
Today, speculation and popularity play a major role in shaping the value of digital assets. But as the cryptocurrency market matures, so do the digital currencies and digital assets entering the market. For Uniglo, it could change the game by revolutionizing how crypto is valued.
Find out more here:
Join the pre-sale: https://presale.uniglo.io/register