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  • Writer's pictureConnie Chan (GLO) Stuns Bears With Big Price Push, Leaves Litecoin (LTC) And Avalanche (AVAX)

The bear market is separating the wheat from the chaff. Uniglo (GLO), an Ethereum-based social currency providing a long-term store of value, has rallied 45%, leaving crypto giants Litecoin (LTC) and Avalanche (AVAX) in the dust.

The prevailing market conditions have amplified Uniglo’s value proposition, and investors looking to diversify and protect against further market downturn are partaking in this new ICO (Initial Coin Offering).

Uniglo (GLO)

Uniglo’s whitepaper caused significant intrigue, but following its smart contract audit by industry-leading firm Paladin, demand for the token has soared and led to impressive price action.

The whitepaper details a project designed to provide a genuine store of value that preserves wealth whilst growing it, and Uniglo employs buy and sell taxes to achieve this vision. Leveraging a technique that the ultra-rich have used for decades, asset ownership, the protocol stores a mix of physical and digital assets in its vault, which hedge against downturn through diversification. The vault smooths out long-term performance by holding a broad mix, including but not limited to BTC, ETH, gold, fine art, and NFTs. With the vault acting as a managed fund, assets that have increased in value are sold, and profits are reinvested. In this manner, GLO is value-backed and steadily appreciates. In addition, the protocol features an aggressive burning strategy and is set to be an incredible performer in the next bull market cycle.

Litecoin (LTC)

Litecoin is a hard fork from the original Bitcoin protocol and launched in 2011. This token was introduced with a hard cap of 84 million to enable peer-to-peer transactions of value at a larger scale than Bitcoin could provide.

Litecoin can claim to have endured longer than most crypto projects and still possesses an active community that continues to grow. With more merchants accepting LTC at payment gateways, its use case has only expanded. However, many investors are curious how much longer Litecoin can survive due to the release of objectively faster and cheaper layer one protocols.

Avalanche (AVAX)

Avalanche has had a worse time than most layer one blockchains in the current bear market seeing its valuation decline by 90% since its ATH (All-Time High) of $146 in November 2021. With increased competition from other layer one blockchains in the DeFi space, Avalanche has also suffered declining levels of liquidity locked in its ecosystem.

But contrasted to this tough environment and increased competition, Avalanche still sees a huge number of daily transactions. Concrete proof that despite the bear market, thousands of investors are still utilizing this chain. Recently, Avalanche broke its record for the number of daily transactions, showing lingering strength and perhaps an indicator that AVAX will fly again in the next bull market.

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