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Cryptocurrency investors are suffering in the bear market in the face of potential losses and recession. As the prices of well-known cryptocurrencies such as Ethereum (ETH) and Shiba Inu (SHIB) cannot counter the economic downturn, whales are looking for the next big thing to help counter the 2022 loss.I found a shelter in a new code called Uniqlo (GLO).
Uniqlo is about to launch its first pre-sale, but it’s already in the spotlight of crypto whales. This currency introduces an ultra-burn mechanism that limits the supply of tokens more effectively than most other cryptocurrencies.
Initially, Uniqlo will build a small Treasury to fund the purchase of various assets. The mix of assets includes, among other things, cryptocurrencies, NFTs, and digitized real-world assets. UNIQLO can counter most cryptographic volatility by betting on the valuation of a wide range of assets. As such, its token, GLO, indicates that prices are likely to rise for those investing during the pre-sale beginning in mid-July.
Of course, Ethereum is one of the top blockchains in the world and second only to Bitcoin (BTC) in terms of market capitalization. However, the price of that ETH coin has fallen 78% from its all-time high in November 2021. And investors are feeling the decline. Only 17% of Ethereum 2.0 stackers are reportedly profitable, but most of them are underwater.
BTC Bull’s Michael Saylor also recently commented that Ethereum is a securities, not a commodity. He pointed out that the platform is not fully decentralized because it is published by ICO and has a management team to make decisions and handle software upgrades. This set of discussions only raises the awareness that certain ciphers require regulatory oversight and many whales do not want to accept them.
Shiba Inu (SHIB)
Shiba Inu’s decentralized cryptocurrency has been a popular investment option since its launch in 2020. Investing in that coin, the SHIB, brought wealth to investors before the massive cryptocurrency crash last May. However, SHIB is intended to be abundant, starting with the supply of a total of 1 trillion tokens. I’m feeling the volatility of the bear market right now.
To raise that price, whales are buying SHIB. But their efforts may not be enough to inspire a successful Bull Run. SHIB has made minimal price increases, but the long-term view of tokens still looks bearish.
However, the recently announced launch of the new Shiba Inu Stablecoin will need to provide support and inject utilities into the Shiba ecosystem.
Whales take a lot of risk because they invest the most in cryptocurrencies. For investors, a healthy strategy may be as easy as moving to where the whale went. Therefore, when these giants invest in new pre-sale cryptos like Uniqlo, you can follow along to take advantage of the opportunity to balance your portfolio.
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Participate in the pre-sale: https://presale.uniglo.io/register