When looking for new tokens to invest in, burn rate is hugely important. You want a token that continues to burn enough of its supply to help limit how many are in circulation, give price potential to those who’ve already invested and make sure it continues to become more scarce. This is an answer to the world’s inflation problems because it limits supply while increasing demand, which is the opposite of what most fiat currencies are doing right now.
Long ago, fiat currencies scrapped their gold standard pegs. Before that, for every dollar in circulation, gold had to be held in reserves to guarantee the price. So for every dollar held in circulation, an equivalent amount of gold was stored in the vaults. This gold peg was scrapped, with gold reserves sold off to raise extra funds. While it did raise short-term cash, it also has long-term inflation implications. Now dollars could be printed whenever necessary, which devalued those that were already in circulation. It made people’s money worth less and less as time went by. And inflation is a huge issue in the economy right now, as you may have noticed.
So cryptos that have the right burn mechanics help offer a solution. Instead of increasing supply and devaluing existing currency, they destroy unowned tokens over time, which helps decrease the supply and increase the value of existing tokens. That makes crypto a key answer to the world’s inflation issues. And some tokens have great burn rates that make them the best deflationary tokens in the crypto space. One of them is GLO…
Uniglo has perhaps the strongest set of deflationary tactics the space has ever seen. Alongside radical dual-burn mechanics, it also re-introduces the gold standard with a fully asset-backed store of value, shoring up its base price.
But it’s the GLO burn tech that has many analysts talking. GLO doesn’t just burn tokens on every transaction, it also buys back tokens over time to burn as well. This gives incredible potential to investors, especially ones who invest early during the current pre-sale phase. With these dual-burn mechanics, scarcity is guaranteed and supply is limited over time. That’s why analysts and crypto fans alike love the look of GLO.
Huobi Token (HT)
Huobi Token backs up the Huobi cryptocurrency exchange and can be used for rewards, voting rights and more. It might be one of the lesser-known altcoins in the space, especially compared to more famous crypto names, but it still has some potential according to investors.
Kucoin is another token that backs its own exchange, this time the KuCoin exchange which makes it easy for anyone to trade, store, buy or sell a range of other cryptos. While there are already tons of different exchanges out there, KuCoin does have some key benefits for holders, which make it another recommended token.
GLO could soon surpass other altcoins like KCS and HT as it fires itself up the crypto charts, and hopefully fires your portfolio into success.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
Source link .