Bitcoin continues to trade in a band between $24,000 and $22,000. Investors are waiting for the July CPI (Consumer Price Index) report to see if the FED’s rate hikes have effectively tackled inflation. With an incredible jobs report, more than half a million jobs were added in the United States throughout July; Bitcoin is likely to break out of this band in either direction following the news. Low inflation is desired, with high inflation indicating that the United States could be heading towards a period of stagflation.
Regardless Bitcoin has retraced more than 65% from its peak in November 2021 and trades close to its prior ATH (All-Time High), which typically becomes the support for the next cycle. The current price of digital assets represents the accumulation phase, and investors buying now will be the ones who make life-changing profits in the next bull run. Crypto insiders have touted Uniglo (GLO), Cronos (CRO), and Chainlink (LINK) as projects with the greatest potential within the digital asset space.
Uniglo (GLO)
Introducing a new social currency, Uniglo will be a value-backed token with an intrinsic floor price. Uniglo developers designed GLO seeing the current financial landscape where investors choose between fiat, whose value is eroded each year, and cryptocurrency, which has suffered extreme volatility in recent months. GLO is supported by the Uniglo Vault, which houses a broad range of assets, including real-world and digital.
Uniglo allows the ordinary investor to store their wealth in high-end items that have proved a brilliant store of value but are often outside their price range, such as fine art, gold, and rare whiskey. Buy and sell taxes are implemented to fund the treasury, which acquires assets, and 2% of all transactions on GLO are automatically sent to a burn wallet, making GLO a hyper-deflationary token. GLO represents a much-needed organic store of value that grows with time.
Cronos (CRO)
CRO is the native token of the Cronos Chain, the blockchain developed and deployed by the popular exchange Crypto.com. CRO is also the utility token of Crypto.com, and its performance is linked to the performance of the exchange. With upgrades coming to the Cronos Chain and Crypto.com attracting a growing base of users, CRO is primed to perform well in the coming months.
CRO trades just below $0.15 with an extensive token burn underway. The future is bright for CRO holders.
Chainlink (LINK)
Chainlink is undoubtedly one of the most valuable projects within the crypto space. Created in 2017 and launched in 2019, this decentralised oracle network solved one of the central problems of blockchain technology. Blockchains are isolated and cannot retrieve external data. Chainlink feeds external data to smart contracts and connects them to the real world. Chainlink is a critical step in the interoperability between the blockchain and the real world.
LINK trades at $7.70, down from a peak of $52. Chainlink continues to partner with new projects growing its value proposition and will likely eclipse its prior high in the following market cycle.
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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