Uniglo has been on a tear lately, increasing in price by 35% despite the declines in Bitcoin, Ethereum, and Avalanche. The main reason for Uniglo’s success appears to be its upcoming launch in mid-October. Uniglo’s price increase is a much-needed bright spot in the cryptocurrency market, which has been struggling since the beginning of the year.
Bitcoin (BTC), Ethereum (ETH) And Avalanche (AVAX)
After attempting to dip under $20,000 last week, Bitcoin’s price was quick enough to bounce back and is currently holding $20K as a strong support level. Citing the number of active addresses, analyst Ali Martinez also believes that the Bitcoin bottom could be in.
In the coming week, Ethereum is expected to break over a critical barrier level. The largest altcoin by market cap was trading at $1,750, down 1.15% from the previous day.
However, weekly increases for Ethereum remain in the double digits as it prepares for the Merge. Following recent growth, there is rising anticipation in the Ethereum community that the token will finally break through the $1,800 barrier.
On the other hand, today marked the sixth consecutive day of improvements for the Avalanche price. The price broke through the consolidation and reached a high of $21.96. However, the price quickly retraced after recovering. It is currently hovering near the starting level, making a Doji candlestick, indicating a tug of war between bulls and bears.
Uniglo creates completely asset-backed money that addresses the cryptocurrency industry’s least loved aspect: volatility. It is a community-based social currency with tremendous growth potential.
Uniglo employs a one-of-a-kind vault to purchase and store physical digital assets as well as digital gold. The proceeds from this vault will be used to buy GLOs on the secondary market and burn them with their first ultra-burn instrument to restrict supply.
Uniglo’s price has risen by a stunning 35%, demonstrating the project’s enormous potential and widespread adoption. Analysts anticipate that GLO will proudly sit alongside the top currencies due to Uniglo’s relevance and the strength of the unique ultra-burn tool.
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