Jerome Powell spoke from Jackson Hole. He touched on price stability and inflation. The tone was clearly hawkish, and Powell seemed to be moving away from the soft landing thesis, stating that the FED would use all the tools at its disposal to bring down inflation. This is understood as Powell telegraphing more significant rate hikes to come and more pain for assets. The stock market tumbled as a result, and Bitcoin briefly dropped below $20,000.
This is excellent news for investors with a long-term horizon as it means more time to accumulate cryptocurrencies at depressed valuations. A new addition to the Ethereum ecosystem, Uniglo (GLO), is showing massive potential in the current market climate due to its ability to offer a solid store of value and has been compared to Filecoin (FIL) and Internet Computer (ICP). It is a token perfectly suited to hedge against a continued downturn and, as a result, has colossal potential to surge in value.
Uniglo (GLO)
Uniglo offers an organic store of wealth that floats in value. GLO, the native token, is hyper-deflationary due to the protocol’s ultra burn mechanic, with a portion of every transaction automatically sent to a burn wallet. The scarcity principle is only one of Uniglo’s value creation mechanisms.
Another is the Uniglo Vault. With a portion of each transaction being used to purchase assets. The assets housed in the Uniglo Vault give GLO a value-backed floor price. The Vault contains both digital and physical assets, hedging against poor performance by either. The Uniglo Vault represents a diversified portfolio and leverages asset ownership to provide a token that perfectly blends wealth preservation and growth speculation for investors.
Filecoin (FIL)
Filecoin is a decentralised storage system that allows the world’s most important data to be kept in a decentralised fashion. The responsibility for storing data is distributed amongst numerous individuals or nodes, and this overcomes the greatest security threat to typical storage platforms- a single point of failure.
With blockchain technology being immutable, data cannot be edited or tampered with once it is on-chain. Filecoin has introduced a method to store data securely and long-term in a peer-to-peer fashion. With autocratization on the rise globally, Filecoin represents an essential informational tool for democracy.
Internet Computer (ICP)
Internet Computer is laying the foundation for a never seen decentralised internet. Judged solely by its infrastructure Internet Computer is one of the most impressive projects in the sphere.
It aims to transition the public web into a global computing platform supported by blockchain technology. It does this by allowing communication between individual data centres to form one large cohesive network. With close to industrial smart contract throughput, Internet Computer is a project all investors should know about.
Find Out More Here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
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Source: https://www.thecoinrepublic.com/2022/08/30/uniglo-glo-high-potential-crypto-to-the-likes-of-filecoin-fil-and-internet-computer-icp-invest-now/