Massive Token Burn For Uniglo.io Likey To Fuel Tremendous Gains Against Solana, Fantom, And Shiba Inu

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Positive price action has liquidated shorts left, right, and center. A short position gets liquidated, creating more buy pressure and increasing prices. The market wants to move. 

Analysts expect Uniglo’s announcement of a colossal token burn to send the project into the top hundred easily. It is already outpacing Solana, Fantom, and Shiba Inu.  

Uniglo.io

Uniglo provides a long-term store of value by exposing investors to a unique collection of digital assets. The protocol vault stores these assets and includes large caps such as BTC & ETH, small caps for growth speculation, and NFT assets. The NFT assets represent tokenized high-end physical goods such as real estate and fine art. On top of this GLO, the native token possesses a deflationary token model. Smart contracts burn 2% of every transaction. 

This hyper-deflationary project appears ready to start an incredible rally, and YouTube altcoin specialist Crypto Moonlight has already picked up on Uniglo’s potential. The announcement of a massive token burn is more fuel for GLO’s rally, and this project has the potential to be one of 2022’s best performers.

Solana 

Solana delivered scalability to crypto. And it did this by blending Proof of Stake (PoS) and Proof of History (PoH) to form a hybrid consensus mechanism. Solana’s speed made it a front-runner in 2021 and one of Ethereum’s most serious contenders. However, the launch of newer layer ones and SOL’s significant retracement through the bear market has cast doubt on Solana’s future. 

Fantom 

Fantom was another third-generation alternative layer one blockchain similar to Solana. The crypto community collectively dubbed these two and a few others ‘The Ethereum Killers.’ Fantom utilizes a DAG (Directed Acyclic Graph), allowing the validation of simultaneous transactions and enabling the network to outpace traditional blockchains.

The Fantom Foundation played a prominent role in Fantom’s success by financially incentivizing developers to build on the network, and as DeFi boomed, Fantom attracted swathes of liquidity. However, similar to Solana, Fantom faces increased competition, but when DeFi booms, analysts are confident FTM will make another rally. 

Shiba Inu 

Shiba Inu represents the second most popular meme coin, and developers created it to usurp DOGE’s dominance. Branded as the ‘DOGECOIN KILLER,’ Shiba Inu provided investors with utility and passive income plays thanks to its decentralized exchange ShibaSwap. The project continues an enormous burn, and this reduction in supply will inevitably push SHIB’s price upwards. 

Closing Thoughts 

Altcoin season has nearly arrived with the slow but apparent shift towards a more risk-on environment. Small caps will start to fly: Uniglo’s solid value proposition, burn announcement, and smaller market cap make it a crypto gem.

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