The G20 will present a regulatory framework for cryptocurrencies in October this year. Regulations are always met with mixed results from the crypto community, but increased regulation is a net positive for the sphere as it means greater recognition from TradFi (traditional finance). It also offers concrete proof of the increasing role that cryptocurrencies play in the financial system.
Greater regulation makes digital assets more appealing to large-scale institutional investors, and as they deploy capital and the market cap climbs, those who already own digital assets will lock in tidy gains. Uniglo (GLO), Bitcoin (BTC), and Cardano (ADA) holders are all anxious to see what the proposed regulations will look like and with this increased penetration into the current financial sphere, they look ready to see sizeable gains.
Uniglo is an Ethereum-based social currency bringing the principles of scarcity and value backing to the digital asset class. Fiat has capitulated in value with inflation, and market volatility has destroyed the value of many investors’ portfolios. GLO is a token backed by tangible and digital assets stored in the Uniglo Vault. Funded via buy and sell taxes, the treasury fund accumulates assets to give GLO a strong and stable floor price.
Uniglo also introduces a new Ultra Burn Mechanic with 2% of every transaction being sent to a burn wallet, and a portion of Vault sale proceeds going to the Buy Back and Burn of GLO. Leveraging technology to create a better form of currency, Uniglo brings the perfect harmony of wealth preservation and appreciation to the digital asset space.
The current market climate has birthed a new wave of Bitcoin Maximalists- those whose entire portfolio is made up of Bitcoin. These investors typically just DCA (Dollar Cost Average) and hold. This strategy is becoming increasingly common as Bitcoin continues to grow in popularity and this is due to its inherent ability to appreciate over long periods.
BTC trades at $23,000 with solid resistance at 24k and strong support at 22k. Which way it will move out of this band remains to be seen.
Cardano, despite delays to its Vasil hardfork upgrade, is enjoying tremendous success. Since the network introduced smart contract capability with the Alonzo upgrade, more and more smart contracts have been deployed on the network, and the number of unique wallets has recently crossed three and a half million.
ADA trades at $0.50, and many predict it will soon target the $1 region.
The proposed regulatory framework will greatly benefit the ecosystem as a whole, allowing more capitalised players to enter the sphere. The fact that the G20 has drafted legislation means crypto represents a genuine part of the financial framework, and its influences and capabilities will continue to expand.
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