Cryptocurrency is a relatively new investment space known to suffer from high volatility. And the current bear market has set up a stage for that volatility to come to light. But investors don’t need to turn away from cryptos just yet. With the right Ethereum projects, they have an opportunity to bring their portfolios back into the green.
Top Ethereum Project #1: Uniglo (GLO)
Uniglo is a new cryptocurrency set for its first presale in mid-July. The Uniglo token, GLO, will be fully backed by a basket of assorted assets that include but are not limited to cryptocurrencies, sought-after NFTs, and digitized real-world assets.
This new currency operates an Ultra Burn Mechanism designed to keep pushing the token price upwards. Profits generated from the sale of its asset backing will be used to buy back tokens from the market. The tokens bought back will then be burned. To further fuel the scarcity of GLO, 2% of the token subject to a buy-and-sell will also be burned.
Top Ethereum Project #2: Shiba Inu (SHIB)
Despite the general downward trend of its token’s price, Shiba Inu has been making strides. Whales have been busy trading its token, SHIB, for the past week in an attempt to push the price. An online marketplace for sneakers, apparel, and luxury accessories also recently announced it is now accepting SHIB as payment. By the second week of July, the price of SHIB was just below the resistance level of $0.000012, trading approximately 17.5% higher than the previous week. This trend could precede a bullish breakout for the token.
Top Ethereum Project #3: Chainlink (LINK)
Chainlink powers hybrid smart contracts and is said to be one of the most widely used oracle networks. While its token, LINK, has generally suffered in the bear market, the oracle network has been demonstrating bullish breaks in short time frames.
Chainlink has also been doing many ecosystem updates and integrations that could elevate the activity level and attract more experienced investors. During the first half of 2022, Chainlink expanded to support over 1,350 projects (in more than 12 blockchains) and over 1,000 decentralized oracle networks. During the first week of July, it also integrated services across six different chains.
The bottom line
While the cryptocurrency market appears to have a devastating outlook, opportunities to counter crypto volatility exist. Ethereum remains a leader in decentralized computing for digital money, global payments, and applications. Investors can, therefore, rely on the growth of projects on Ethereum to counter volatility and mitigate the losses in their portfolios.
Learn 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
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2022/07/get-your-portfolio-back-into-the-green-by-investing-in-top-ethereum-projects-uniglo-glo-shiba-inu-shib-and-chainlink-link