Investors are always on the lookout for the next big thing, and Uniglo (GLO) is making waves in the world of cryptocurrency. The presale for this new coin just launched, and it’s already off to a tremendous start. Bitcoin (BTC), Ethereum (ETH), and Fantom (FTM) are all turning bullish, spreading positive trends over altcoins.
Uniglo (GLO)
Uniglo (GLO) is an Ethereum-based social currency that offers several sound concepts for addressing significant issues in the crypto and broader financial realms. GLO has a relatively stable asset-backed base price and is completely deflationary, making it resistant to substantial price declines.
GLO, unlike fiat currencies, is not intended to be further minted, and it will become scarcer, alleviating the economy’s severe inflation problems. In addition, GLO has a unique dual-burn technology to continuously remove tokens from the market, limiting supply and promoting price increases. Therefore, investing in GLO before its presale launch is vital, and now may be the right time to do so.
Bitcoin (BTC), Ethereum (ETH), and Fantom (FTM)
Bitcoin, Ethereum, and Fantom are three of the most popular cryptocurrencies in use today. All three currencies offer unique benefits and drawbacks, each suited for different purposes. Here’s a quick rundown of each currency:-
- Bitcoin (BTC) is the first and original cryptocurrency, created in 2009. It’s widely considered to be the most trusted and secure cryptocurrency, best suited for anonymous transactions or as an investment.
- Ethereum (ETH) was launched in 2015 and is often hailed as the “next generation” of cryptocurrency. One key difference between Ethereum and Bitcoin is that Ethereum can be used to create so-called “smart contracts,” which can automate certain processes or transactions. This makes it ideal for use in business applications.
- Fantom (FTM) was launched in 2018 and bills itself as “the world’s first DAG-based smart contract platform.” Fantom uses a different consensus mechanism from Bitcoin or Ethereum, which allows it to process transactions much faster than other cryptocurrencies. In addition, Fantom offers unique features called “live streaming smart contracts,” enabling two parties to enter a contract without waiting for it to be mined onto the Blockchain (as is required with other currencies). This makes Fantom particularly well-suited for real-time applications such as supply chain management or streaming media payments.
How Bitcoin (BTC), Ethereum (ETH), and Fantom (FTM) Bullish Trends Influence GLO?
BTC, ETH, and FTM are nearly the most liquid and widely-traded digital assets, which means that when their prices fluctuate, other assets typically follow suit. Uniglo is not directly dependent on the performance of any of these cryptocurrencies. However, BTC, ETH, and FTM are scheduled to be part of its unique vault to maintain stability, and further develop the platform, meaning that the success of these major currencies might create higher earnings from the vault, burn more GLOs, and drive up the prices.
The recent BTC, ETH, and FTM price increases have already boosted interest in Uniglo. The system has experienced a significant increase in the number of new users signing up and in the trading activity of existing users, causing the GLO price to increase by more than 25 percent to 0.0125 USD per token.
Final Thoughts
In addition to its benefits for Uniglo, the broad market rebound is good news for the cryptocurrency industry as a whole, as the resurgence in prices contributes to a rise in the widespread adoption of digital assets and Blockchain technology.
