Source : coinspeaker.com
Place/Date: – August 5th, 2022 at 8:35 am UTC · 3 min read
Uniglo (GLO) is a new cryptocurrency gem that is gaining a lot of attention from prominent investors and analysts. It started the first phase of its presale last July 15 and grew 25% within its first week. The growth potential Uniglo has so far been demonstrating is understandably a respite from the losses and red zones that have dominated during this bear market.
But a key question you may be asking is why Uniglo is getting so much attention. The simple reason is that it offers something unique and timely: an asset-backed currency that could continue to grow notwithstanding bearish markets and price fluctuations from this point forward. To gain a better understanding of what Uniglo is, we compare it with three other cryptocurrencies – STEPN (GMT), Dogecoin (DOGE), and Tron (TRX) – in this article.
Uniglo is a decentralized finance (DeFi) project that maintains a treasury backed by assets. While other tokens may be backed by fiat, gold, or precious metals, the Uniglo token, GLO, will be backed by a diversified portfolio consisting of digital currencies and high-value digitized tangible assets such as fine art and high-end watches. This diversification will enable the portfolio to appreciate but at the same time have safeguards in place to counter extreme price volatility.
STEPN is a very unique platform that rewards users for being mobile. It is a lifestyle application in Web3 that incentivizes exercising and outdoor movements – a model referred to as “move-to-earn.” The GMT token has many uses on the STEPN platform, including as a reward, payment, and an asset for staking and voting.
Besides its focus on lifestyle, STEPN differs from Uniglo because it mainly operates in the non-fungible tokens (NFTs) space, as users need to have NFT sneakers. Uniglo, on the other hand, will touch on NFTs, digital currencies, and digitized real-world collectibles.
Dogecoin is a very popular meme coin that is highly speculative. Its value is mainly shaped by how popular it is among its users and fans. This is where the main difference from Uniglo lies. The value of the Uniglo token is backed by multiple assets rather than by pure speculation. The GLO token has a stable foundation for growth and appreciation and, as such, would not be as volatile as Dogecoin.
Founded in 2017, Tron also has a unique concept. It aims to create a global entertainment system for digital content creation and sharing. It differs from Uniglo because Tron is focused on facilitating the development of applications rather than building a treasury. The network is also peer-to-peer, supporting the communication and exchange between content creators and consumers. Tron’s native token TRX is then used by consumers to access content and applications on the network.
Uniglo is making a name for itself in the digital asset space. It offers gains that are comparative to what more established cryptocurrencies could offer. Moreover, it has a unique model that could support sustainable, long-term investment returns for early adopters.
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