Another Surge For Price As Ethereum And Polygon Stay Suppressed

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Traditional markets have pain ahead, as do crypto markets. This opens up the opportunity for investors to make fortunes. The bear market will always be the investor’s best friend. And even in these conditions, certain crypto assets continue to perform exceptionally. Uniglo (GLO) has seen another surge in its valuation, whilst larger crypto projects Ethereum (ETH) and Polygon (MATIC) remain suppressed.

Uniglo (GLO)

An Ethereum-based protocol has drawn funds from across the entire cryptocurrency ecosystem by offering a store of value in the bear market. Uniglo introduces buy and sell taxes to create a revenue stream that delivers value for investors.

A portion of this revenue purchases assets stored in the Uniglo Vault, including well-known digital assets such as BTC & ETH, stablecoins, smaller cap projects, and high-end physical goods tokenized as NFTs. This unique asset mixture hedges against volatility and allows Uniglo to outperform the market, not being overly exposed to any single section. Additionally, Uniglo has introduced a revolutionary burning strategy dubbed ‘The Ultra Burn Mechanic’, which will see GLO rapidly become scarce on the open market, further locking in value for early investors.

Ethereum (ETH)

Ethereum made the historic switch from PoS (Proof of Stake) to PoW (Proof of Work). The network now consumes far less energy and has opened up a passive income source for investors who want to stake their ETH and help secure the network. However, there has been a considerable influx of ETH onto centralized exchanges, typically a sign of large incoming sell orders. With disgruntled miners dumping ETH onto the market, ETH’s price will likely capitulate further in the coming months.

Polygon (MATIC)

Polygon is the layer two scaling solution which made the entire Ethereum ecosystem accessible for less capitalized investors. Ethereum’s gas fees were hundreds of dollars at their peak, which simply priced lots of would-be investors out of the market. Polygon brought cheap and rapid transactions to Ethereum. However, MATIC struggles to make gains and will continue to have its price suppressed as its parent chain Ethereum struggles.

Closing Thoughts

This bear market will likely last longer than investors expect. Diversification and exposure to multiple markets is the best way to navigate it. Uniglo’s price increase simply reflects its value proposition in the current economic climate.

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