Uniglo.io And Cosmos Showing Strength And Surge, While Bitcoin Plummets Under 20,000

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The macroeconomic environment is ugly. The August CPI report showed that inflation was still rising despite aggressive rate hikes from the FED. Jerome Powell will have to continue his aggressive rate hike policy, which spells dreadful news for all assets. As the environment becomes more risk-off, money will flow away from riskier assets and towards U.S. government bonds, with this sell-off further tanking the prices of assets.

Bitcoin (BTC) has plummeted below $20,000, and the hugely bearish predictions of professional traders calling for BTC to reach $10,000 become increasingly likely with each passing day. Never before has Bitcoin existed in a recession, and never before has there been such high levels of debt and inflationary printing undertaken at such a grand scale.

However, despite this incredibly bearish news, two crypto projects, Uniglo (GLO) and Cosmos (ATOM), continue to fly in the face of adversary and post incredible gains. Poor capital allocation is a hallmark of bear markets and is why recessions are necessary to reallocate capital to more productive ventures. This is exactly what is happening in DeFi; capital is flowing away from bad projects and into productive protocols.

Uniglo (GLO)

Uniglo has delivered a viable long-term store of value in a time when fiat’s value falls daily, and crypto assets experience enormous volatility. It is hardly surprising this token has absorbed huge swathes of liquidity and continues to rally.

Uniglo features buy and sell taxes used to fund two of the core mechanics of the protocol. The first is its Ultra Burn Mechanic, which continuously reduces GLO’s total supply, with 2% of every transaction automatically burnt. By reducing the total supply, developers have guaranteed a constantly appreciating valuation of GLO- this is basic laws of supply and demand applied.

The second mechanism is asset acquisition. The Uniglo Vault acquires and holds a broad collection of digital, NFT, and physical assets, meaning GLO is value-backed and represents a diversified portfolio. This protocol perfectly harmonizes wealth preservation and growth speculation, and its timing is impeccable. GLO is likely to see a sustained rally throughout the bear, then another period of parabolic growth when the market reverses.

Cosmos (ATOM)

Cosmos is an internet of blockchains, best described as a universe, featuring 13 distinct and sovereign blockchains. Cosmos developed the Inter-Blockchain Communication (IBC) protocol which allows the free flow of assets and data between these networks.

ATOM is the native token powering the entire ecosystem and moves freely between these blockchains. The upcoming bull market will be defined by interoperability. Cosmos is brilliantly positioned, already attracting liquidity from other chains, and is on track to become a top-five project in the next few years.

Bitcoin (BTC)

The original digital asset. Launched in 2009, Bitcoin has dipped below the prior cycle’s peak for the first time in its history, and investors are anxious to see how this asset performs in a bear market. Until now, BTC has existed in a historic bull run, and with its classification as a high-risk asset, the result could be ugly, uglier than people imagine.

On the other hand, the current period represents the accumulation phase of a lifetime for investors with a conviction in BTC as an asset. It is likely that many investors will look back to the end of 2022 and curse themselves for not loading up on BTC at its current price.

Find Out More Here

Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord:  https://discord.gg/a38KRnjQvW
Twitter:  https://twitter.com/GloFoundation1

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