Crypto gems, lower cap crypto projects that attract investors from across the sphere, steadily begin climbing through the ranks and explode in value as the masses discover them. These more unknown projects do not come along often, and with relatively bearish sentiment predominant in the market, fewer investors are taking risks on new projects. This is brilliant news for investors who are prudent to recognise a good project when they see one as they can capture a greater market share.
Uniglo (GLO), an Ethereum-based social currency, is generating community hype that can only be compared to the early days of Solana (SOL) and Avalanche (AVAX). Delivering a much-needed alternative growth vehicle to the digital asset space, it is only a matter of time until the market processes the value proposition of this new project and investors flood towards it.
Uniglo was developed in reaction to the glaringly apparent problem with the current stores of value available to the ordinary investor. They pick fiat, which declines in value each year, with most developed nations currently suffering double-digit inflation, or digital assets, which have seen violent volatility this past nine months. Even stablecoins, the stable store of value within crypto, suffer from inflation. GLO is a new value-backed token with its floor price supported by the Uniglo Vault.
Leveraging buy and sell taxes, the protocol builds a treasury fund that purchases a broad range of assets, including digital, NFT, and real-world. These assets appreciate with time and steadily lift the floor price of GLO. On top of being a blend between wealth preservation and growth speculation by holding a diversified portfolio. GLO is also a hyper-deflationary token, with 2% of every token transaction sent to a burn wallet. GLO employing principles of scarcity has its early investors excited for its launch when its Ultra Burn Mechanic begins, and the total supply will steadily decline.
Solana launched in 2020, and this high-performance layer one protocol quickly earned itself the nickname ‘The Ethereum Killer’, and with this message behind it, SOL enjoyed huge success. Throughout 2021 SOL climbed rapidly through the ranks to the top ten projects.
The buzz around this protocol at launch was incredible, and rightly so; early investors who bought in during the ICO (Initial Coin Offering) bought SOL for $0.22 per token. SOL now trades above $40.
Avalanche is another layer one protocol that excited the market and similarly launched in 2020. The ICO price of AVAX was $0.50 per token, and now it trades at $27.70. Launched by Ava Labs, the Avalanche blockchain has become a mainstay of DeFi (decentralised finance).
There was huge hype surrounding the launch, and the ICO raised $42,000,000 in under a month.
Solana and Avalanche launched at a time when the need for an alternative to Ethereum dominated the market. The gas fees on the network were simply too high for ordinary people to engage meaningfully with crypto. Uniglo arrives when there is a critical need for an organic store of value that grows alongside the investors preserving their wealth. The hype continues to build, and probability dictates that early investors have already locked in substantial future gains.
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