Uniglo.io and Cosmos show strength and surge as Bitcoin plummets below 20,000

The macroeconomic environment is ugly. The CPI report for August showed that inflation continued to rise despite the Fed’s aggressive rate hikes. Jerome Powell will have to continue his aggressive rate hike policy, which is bad news for all assets. As the environment becomes more risk-on, money will move away from riskier assets and into US government bonds, with this sell-off driving asset prices down further.

Bitcoin (BTC) has crashed below $20,000, and the hugely dovish predictions from professional traders calling for BTC to hit $10,000 are becoming more likely with each passing day. Never before has Bitcoin existed in a recession, and never before have such high levels of debt and inflationary printing occurred on such a large scale.

However, despite this incredibly bearish news, two crypto projects, Uniglo (GLO) and Cosmos (ATOM), continue to fly off the adversary and record incredible gains. Capital misallocation is a hallmark of bear markets and this is why recessions are necessary to reallocate capital to more productive companies. This is exactly what is happening in DeFi; capital is moving away from bad projects towards productive protocols.

Uniglo (GLO)

Uniglo has provided a viable long-term store of value at a time when the value of fiat currency is falling daily and crypto assets are experiencing enormous volatility. It is not surprising that this token has absorbed large amounts of liquidity and continues to recover.

Uniglo introduces purchase and sale taxes used to finance two of the core mechanisms of the protocol. The first is his Ultra Burn Mechanic, which continuously reduces the total GLO supply, with 2% of each transaction automatically burned. By reducing the total supply, the developers have ensured a consistent valuation of GLO – the basic laws of supply and demand apply.

The second mechanism is the acquisition of assets. Uniglo Vault acquires and holds a vast collection of digital, NFT, and physical assets, meaning GLO is value-backed and represents a diversified portfolio. This protocol perfectly harmonizes wealth preservation and growth speculation, and its timing is impeccable. GLO is likely to see a sustained rally throughout the downtrend, then another period of parabolic growth as the market reverses.

cosmos (atom)

Cosmos is an internet of blockchains, best described as a universe, featuring 13 distinct and sovereign blockchains. Cosmos developed the Inter-Blockchain Communication (IBC) protocol that allows the free flow of assets and data between these networks.

ATOM is the native token that powers the entire ecosystem and moves freely between these blockchains. The next bull market will be defined by interoperability. Cosmos is brilliantly positioned, already attracting liquidity from other chains, and is on track to become a top five project in the next few years.

Bitcoin (BTC)

The original digital asset. Launched in 2009, Bitcoin has fallen below the peak of the previous cycle for the first time in its history, and investors are eager to see how this asset performs in a bear market. Until now, BTC has existed in a historic bull run, and with its classification as a high-risk asset, the result could be ugly, uglier than people imagine.

On the other hand, the current period represents the accumulation phase of a lifetime for investors with a conviction in BTC as an asset. Many investors are likely to look back to the end of 2022 and curse themselves for not loading BTC at its current price.

Learn more here

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