Uniglo (GLO) has been one of the best-performing assets in the past month, despite the volatility in the markets. The price of GLO has increased by 35% compared to Nexo (NEXO) and 1inch Network (1INCH).
The stability and trustworthiness of the protocol depend on Uniglo’s openness, which is one of the main factors contributing to its popularity as an alternative investment.
The GLO token’s usefulness gives it strength. Uniglo presents a novel method of wealth management. To maintain the value of GLO, it uses a special vault to keep a mixture of NFTs, digital assets, and physical goods. Due to the DAO structure, the community will share the assets in Uniglo’s vault. Without consultation with the community, Uniglo will make no choices throughout the development process. A practical use case for the token is its usage on the platform.
Crypto experts assert that other DeFi titans will be forced to innovate by Uniglo’s ultra-burn mechanism, which aims to purchase back GLO tokens from the market and permanently remove them from circulation. GLO’s value might rise as a consequence of this procedure, which will result in a decrease in its market supply. This suggests that long-term wealth building will benefit Uniglo.io’s early users.
The Uniglo crew is also actively involved in the community and is always available to assist users and answer their queries. One of the most crucial elements in a project’s success is its community, and Uniglo seems to have a very robust one.
These elements have helped Uniglo succeed over the last month, and we think the project will follow in the future.
Nexo (NEXO) And 1inch Network (1INCH) Down By 7% And 25%, Respectively
The cryptocurrency market has been enduring a tough few days, with some significant tokens losing value. The sell-off in both projects appears to be part of a broader sell-off in the cryptocurrency market, which has recently seen several meaningful tokens lose value.
Best known for its crypto-backed loans, Nexo has seen its token lose 7% of its value in the past 7 days.
To better grasp the price volatility, we must look at how they work.
A blockchain-based lending company called Nexo gives customers quick loans guaranteed by cryptocurrencies. For a loan in the form of fiat money or a stablecoin, users must deposit an accepted token, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP), as security.
When locked in the network, Nexo’s native token, NEXO, offers users perks, including lower lending interest rates and the chance to collect interest payments on money deposited. Additionally, dividends from Nexo’s earnings are paid to token holders.
In the last week, the price of the cryptocurrency Nexo has decreased by 7%. Nexo could be on the wrong side of the transaction as traders continue to discuss the impending Ethereum Merge.
The initial protocol of the 1inch Network is a decentralized exchange aggregator solution, which offers consumers better prices than any single exchange by searching deals across many liquidity sources. The 1inch Aggregation Protocol uses the Pathfinder method to compare over 240+ liquidity sources on Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum, Fantom, and Gnosis Chain to discover the optimal pathways.
The 1inch DEX aggregator has crossed $150B in total volume on the Ethereum network alone and attracted 1M users in a little more than two years.
1inch Network, a decentralized exchange aggregator, has fared even worse, losing 25% of its value over the last 30 days.
Learn More About Uniglo:
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: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.
Source: https://www.thecoinrepublic.com/2022/09/17/uniglo-glo-beats-volatile-markets-with-30-price-gain-compared-to-nexo-nexo-and-1inch-network-1inch/