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11/04/2022

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Uniglo.io Burn Event Could Cause Massive Price Increase, Overshadowing Gains Posted By Cardano And Tron

The post Uniglo.io Burn Event Could Cause Massive Price Increase, Overshadowing Gains Posted By Cardano And Tron appeared on BitcoinEthereumNews.com. Uniglo has witnessed a 55% jump in price since its presale launch on the 15 July, 2022. This price...

Uniglo.io Burn Event Could Cause Massive Price Increase, Overshadowing Gains Posted By Cardano And Tron

Uniglo has witnessed a 55% jump in price since its presale launch on the 15 July, 2022. This price increase overshadows the price performance of Cardano and Tron and makes Uniglo the focus of attention in the crypto sector.

Parts of the contributors to this price surge are the assets in Uniglo’s storage vault backing the token and the ultra-burn mechanism. This Ethereum-based token is backed by varieties of strong assets, including digital gold, which gave rise to its base price.

Uniglo comes with an ultra-burn mechanism that involves a unique dual-burn technique. This mechanism burns 2% of $GLO for every purchase and sale transaction of the token. The burned tokens are transferred to Uni Abyss, a wallet with an unknown private key.

This gives it an edge in fighting against volatility and the bear market by creating scarcity and a growth ecosystem for the token. Many crypto analysts are optimistic about the token’s future, calling it the best, as it works with a fundamental technique that poses a solution to global inflation.

Uniglo is a social currency. Essentially, it’s a DAO community system where the members have a participatory right in the operation of the project. The members, who are also the holders of the coin, can decide the amount to burn and the asset the team will purchase. A massive burn will occur on launch, likely causing a massive upwards rise in price.

Cardano

Cardano, one of the most prominent digital currencies by market capitalization, is currently witnessing an appreciation in its price movement. Cardano started at $0.4344 at the beginning of October and made a downward movement reaching $0.3401 on 21 October. The coin seems to be recovering its loss in the month, as it reached $0.4182 on 30 October.

Cardano is a public digital blockchain launched in 2017 to facilitate peer-to-peer transactions. Developed by the Cardano foundation, the platform runs on a proof-of-stake consensus and uses $ADA as its native token. The Cardano blockchain is an open-source platform, which means it’s subject to further development or modification.

Tron

Tron is one of the digital currencies that withstood the bearish market in the middle of 2022. The coin witnessed a 29% increase in price at the beginning of May when other currencies were struggling with a massive plunge. The coin started the month of October at the price of $0.060499 and has witnessed about 5% appreciation as the price reached $0.063621.

Tron is a cryptocurrency running on its own platform, with the principal objective of creating a decentralized web. Developed by Justin Sun, a Chinese entrepreneur, the coin was launched in 2017 and operates in an open-source format.

Final Thoughts

Despite Cardano and Tron both recovering somewhat, it still pales in comparison to the moves already made by Uniglo.io and the incredible returns that it will likely give in the future. With a gigantic burn on launch, the moon is closer than it seems.

Learn more:

Join Presale:  https://presale.uniglo.io/register 

Website:  https://uniglo.io 

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Source: https://www.thecoinrepublic.com/2022/11/04/uniglo-io-burn-event-could-cause-massive-price-increase-overshadowing-gains-posted-by-cardano-and-tron/

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