Place/Date: - August 12th, 2022 at 1:53 pm UTC · 3 min read
The cryptocurrency market is ever-evolving. With new players constantly entering the scene and changing the rules of the game, it can be easy to get left behind. In this article, we give you a quick update on what’s new and promising in the crypto space.
A key update for cryptocurrency holders is the entrance of a new crypto gem called Uniglo. This project is new to the decentralized finance (DeFi) space. Yet it is gaining so much traction in the crypto investor sphere. The project commenced the first phase of its presale last 15th of July, and it gained 25% within a week.
The Uniglo project promises to offer big gains to early adopters through a dual token growth function that includes an asset vault and a unique token burn mechanism. First, Uniglo will have a special vault that will contain a wide range of assets acquired by way of community voting. As these assets appreciate, holders of the GLO token will also benefit. Secondly, the project introduces to the market a unique token burn process called Ultra-Burn Mechanism. This mechanism is designed to buy back tokens from the market and then burn them to constantly uplift the value of the GLO token in the long term.
Uniglo’s biggest move yet will be its public launch scheduled for October 18 this year.
Polygon is also expected to make big moves before the year ends. Polygon is a public blockchain platform with a proof of stake consensus algorithm. The platform is open source, and many developers are responsible for the continued upgrades and expansion that have been happening on Polygon since it was launched five years ago. With the arrival of its much-awaited Vasil fork, the Polygon network is expected to undergo an overhaul that will potentially culminate in gains for investors by October.
Analysts also predict big moves from Pancakeswap this October. Pancakeswap is said to be the leading decentralized exchange on BNB Smart Chain. It is the largest exchange platform for BEP20 tokens on the Binance network and is constantly making room for more growth and expansion. It regularly burns approximately 756,000 CAKE tokens per day, resulting in a net emission of about 350,000 CAKE tokens per day. However, Pancakeswap just recently did a major burn, removing over 7 million CAKE tokens from circulation. This burn amounted to $32 million and could impact the token’s performance by October.
Many things are changing in crypto. And as the market appears to be picking up, investors need to see past the current state of the market and see what’s in store for the rest of the year. For Uniglo (GLO), Polygon (MATIC), and Pancakeswap (CAKE), big things could be in store in the coming months.
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