Most of the significant indicators for the macro bottom have already flashed. The hash ribbons indicator has flashed; it measures when miners capitulate, and this typical marks an excellent accumulation phase. The weekly RSI signals Bitcoin is oversold for the third time ever; the last two times were the prior cycle bottoms. And the logarithmic regression chart shows Bitcoin’s current price as the point of maximum financial opportunity.
An enormous market reversal is coming. This next bull run will be unlike anything ever seen, and as the masses adopt crypto, digital assets will enjoy a period of unparalleled growth. Seasoned crypto investors are searching for the next small-cap gem that has the potential to do 100X, and a token consistently mentioned is Uniglo (GLO). This Ethereum-based social currency is already up 35% in the last week alone. It is just beginning its rally, leaving top established projects Avalanche (AVAX) and Binance Coin (BNB) lagging far behind.
Uniglo is beginning to attract whales, and on-chain data shows that these whales are targeting and heavily participating in this ICO (Initial Coin Offering). Speculation as to why they are participating comes down to two major reasons. First is the Uniglo Vault. Uniglo’s Vault stores a collection of digital and physical assets, giving GLO a natural floor price and allowing its value to surge as the assets in the vault appreciate. This makes GLO the first value-backed token in DeFi. And the second reason is the Ultra Burn Mechanism. Outlined in the project whitepaper, 2% of every transaction will be sent to a wallet with an unknown private key titled the Uni Abyss. This highly aggressive burning strategy will see the value of early investor’s tokens skyrocket when GLO launches on the open market and the total supply declines.
Launched by Ava Labs in 2020, Avalanche brought scalability to DeFi. At first, this fresh layer one blockchain was rapidly adopted and captured huge amounts of liquidity in DeFi. A viable alternative to the exorbitantly expensive Ethereum network.
However, AVAX, the native token, has declined nearly 90% since the start of the bear market. With the launch of new, more scaleable layer one blockchain projects, the future of Avalanche and AVAX seems uncertain.
Binance Coin (BNB)
BNB is the token at the heart of the entire Binance ecosystem. The third largest altcoin excluding stablecoins, BNB is considered a blue chip crypto project and a token that will play a continuing role in future of crypto.
BNB has retraced nearly 60%, and its current valuation offers an excellent entry point for investors. Backed by the world’s leading exchange, Binance, the future remains bright for BNB holders.
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