A new cryptocurrency is making its rounds in the market – Uniglo (GLO). This new project is in the decentralized finance (DeFi) space that just started the first phase of its presale in mid-July. Since then, Uniglo has achieved impressive growth that is making many investors’ heads turn. And what makes this all the more impressive is that Uniglo’s growth has been completely organic during the initial month of its presale.
Today, the new DeFi project just started the second phase of its presale. And according to analysts, the growth behavior of Uniglo is reminding them of the way in which Solana (SOL) and Binance Coin (BNB) entered the market during their respective initial coin offerings (ICOs).
The impressive organic growth of Uniglo (GLO)
Uniglo is the latest iteration of a social currency. It is unique from most other cryptocurrencies because its GLO token is pegged to a range of assets that include digital currencies and digitized collectibles. Moreover, the protocol will implement an idiosyncratic burn mechanism that will help reduce the supply of GLO tokens in the market in the long term.
Within the first week of pre-selling, Uniglo already saw a 25% growth in the price of GLO. The native token is experiencing consistent growth as it proceeds further with the second phase of its presale period. The token is expected to grow exponentially by the time of its launch in mid-October. As such, Uniglo could see a major take-off by end of October or November.
Uniglo’s beginnings are reminding us of Solana’s early days. Solana is a decentralized computing platform that implements a proof of stake consensus together with a so-called proof of history consensus.
The Solana blockchain network itself was created in 2017. However, the SOL token launched only two years ago with its first block being created on March 6, 2020. The SOL token was Solana’s entry point into crypto trading, starting the trade of SOL at approximately $0.79. Today, SOL is trading at $36.20 with a total market capitalization of $12.6 billion.
Binance Coin (BNB)
Binance Coin also had an impressive ICO similar to Solana. Binance Coin is the utility token used for exchange, trading, and payments on the Binance Chain, which is the largest exchange platform for cryptos in the world. As such, Binance Coin is widely used and distributed. The coin’s ICO took place in July 2017 during which it was only available for purchase using Bitcoin or Ethereum. The initial trading price of BNB was also only $0.10. As of this writing, one BNB was already trading at $284.
The bottom line
With impressive growth that reminds us of Solana and Binance, Uniglo presents strong potential for significant near-term and long-term gains. Looking at the massive growth of SOL and BNB since their respective ICOs could offer proof of the earning potential that analysts see in Uniglo.
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