Bullish News for Uniglo (GLO) Investors as Price Rises 25% Despite Resistance from Binance Coin (BNB) and Polkadot (DOT)

Jamie Larson

• 2 min read
Bullish News for Uniglo (GLO) Investors as Price Rises 25% Despite Resistance from Binance Coin (BNB) and Polkadot (DOT)

The cryptocurrency market has gained a new gem in Uniglo (GLO). Introducing a social money supported by numerous assets, this new participant is a decentralized finance (DeFi) project. When Uniglo started its presale on July 15 of last year, the project saw a 25% increase in its first week. This increase portends positive news for potential investors—bullish news.

Uniglo (GLO): What is it?

A new project called Uniglo is backed by digital money, valuable NFTs, digital gold, and other real-world commodities that have been converted into digital form. This indicates that the GLO token has the potential to expand quickly, much like virtual currencies, but also has the resilience to withstand the risks associated with price volatility and market swings.

The Ultra-Burn Mechanism, a novel token-burning idea introduced by this project and modeled after the buyback-and-burn methodology. The Uniglo community will buy GLO tokens on the open market and burn them, deleting tokens permanently and lowering the total supply by using the profits made from its asset vault. Driving token scarcity is intended to increase value for devoted token holders.

Binance (BNB)

Of course, the well-known and reliable Binance Chain is powered by the Binance Coin. Sadly, BNB hasn't yet developed bullish momentum. Recent price resistance for BNB has been accompanied by Uniglo's 25% price increase. BNB is anticipated to rebound, albeit it might take some time, since the Binance network continues to be the biggest cryptocurrency exchange in the world and offers a variety of potential use cases and features.

Polkadot (DOT)

One of the most well-known blockchains in the sector is Polkadot. It is praised for facilitating interoperability and connectivity amongst blockchains. But recently, resistance has also been seen in the price of its DOT token. DOT's price has decreased 86.45% from its all-time high. The token has increased a little bit during the past week, but just marginally. Additionally, they are overshadowed by the fact that on July 20, the volume of DOT fell by more than 38%. Bulls must rally for Polkadot's token in order to overcome this obstacle.

The conclusion

Uniglo is a breath of new air in our environment, when big cryptocurrencies struggle to achieve even modest growth. The price increase of 25% is especially great news for those who purchased GLO tokens in the first few days of Uniglo's presale. The first presale period will run until August 15 so prospective investors have plenty of time to find out more about this brand-new cryptocurrency treasure.

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