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Faced with losses and the possibility of a recession, cryptocurrency investors are suffering in the bear market. As the prices of famous cryptos such as Ethereum (ETH) and Shiba Inu (SHIB) fail to fight off the downward pull of the economy, whales are searching for the next big thing that could help counter their losses in 2022. And some big investors have found refuge in the new crypto called Uniglo (GLO).
Uniglo is just about to begin its first presale but is already catching the attention of crypto whales. This currency introduces an Ultra Burn Mechanism that will more effectively limit the supply of its token than most other cryptos.
At the start, Uniglo will build a small treasury to fund the purchase of various assets. The mixture of assets will include cryptocurrencies, NFTs, and digitized real-world assets, among others. By betting on the appreciation of a wide range of assets, Uniglo can counter the volatility of most cryptos. As such, its token, GLO, shows strong potential for price gains for those who invest in it during its presale, which begins in mid-July.
Ethereum is, of course, one of the top blockchains in the world and is second place after Bitcoin (BTC) in terms of market capitalization. The price of its ETH coin, however, has been down 78% since an all-time high last November 2021. And investors have been feeling the drop. Only 17% of Ethereum 2.0 stakers are reportedly making profits while most of them are underwater.
BTC bull Michael Saylor also recently commented that Ethereum is a security rather than a commodity. He pointed out that the platform is not completely decentralized since it was issued by an ICO and has a management team that makes decisions and takes care of software upgrades. This line of argument only adds to the perception that certain cryptos need regulatory oversight, which many whales might not want to embrace.
Shiba Inu (SHIB)
The Shiba Inu decentralized crypto was launched in 2020 and has since been a popular investment choice. Investing in its coin, SHIB, brought wealth to investors before the great crypto crash last May. SHIB was, however, meant to be abundant and started with a total supply of one quadrillion tokens. Now, it is feeling the volatility in the bear market.
To bring up its price, whales have been buying SHIB. But their effort may not be enough to incite a successful bull run. While SHIB has been making minimal price gains, the long-term view of the token still appears bearish.
The recently announced launch of the new Shiba Inu stablecoin should, however, offer support and inject utility into the Shiba ecosystem.
Whales invest the most in crypto and, therefore, take a lot of the risk. For investors, a sound strategy could be as simple as moving toward where the whales have gone. So, as these giants invest in new preselling cryptos like Uniglo, you can follow suit to take advantage of the opportunity for balancing your portfolio.
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Join Presale: https://presale.uniglo.io/register