Market cap is short for market capitalization and refers to the total value of a cryptocurrency. This is calculated by multiplying the total supply of a coin by the current price. Paying attention to the market cap can be helpful when you’re trying to assess a cryptocurrency’s value.
Generally speaking, the higher the market cap, the more expensive the coin. If you’re looking to invest in crypto with a high market cap, you’ll need to be prepared to pay more for it. Additionally, cryptos with high market caps tend to be more widely used and accepted than those with lower market caps.
Newly born crypto gems are often characterized by small caps and greater potential. One such gem is Uniglo (GLO), and among large-cap Shiba Inu (SHIB) and Dogecoin (DOGE), it is paving the way to future glory.
Uniglo (GLO) is an Ethereum-based social currency designed to let average investors gain portions of world-class assets. Uniglo maintains the top 15 cryptocurrencies, NFTs, digitized gold, and collectibles across multiple chains and uses profits from them to function its ultra-burn feature. More precisely, with the portion of these profits, Uniglo plans to purchase already released $GLO tokens from the market to destroy them permanently. This burning method is approved by leading companies to give their native coins more scarcity and deflationary nature – the fewer tokens remain in circulation, the higher the price gets, and higher revenues early investors generate.
GLO vault already holds approximately $6000 USDC and is about to start collecting rare or popular assets during presale rounds.
Speaking of the Uniglo presale, the team has announced a successful end of the first phase and declared an updated price of $0.013 per GLO token. It is a 30% increase from the initial floor price, meaning early investors are already enjoying profits from their holdings. While the second and third rounds are ahead, more investors are getting excited about the protocol daily.
Uniglo’s vault and burning mechanisms are extremely attractive to investors that have been harmed by market volatility and inflation. In the era where cryptos are constantly fluctuating and dropping to the lows, Uniglo appears to be a stronger and more stable alternative for accumulating wealth in long term.
Shiba Inu (SHIB)
After the crypto market’s negative pause, Shiba Inu’s upward trend has pleasantly surprised investors. SHIB has increased by nearly 30% in the past three days, reaching its highest level since April 2022.
A number of huge whales purchasing SHIB caused its volume to increase. The SHIB Army has also been celebrating that SHIB has surpassed Avalance to become the 12th largest cryptocurrency in the world as $1.5 billion enters SHIB’s market capitalization.
Whalestats, a service offering free data on crypto whales, has monitored over 100 whales for Shiba Inu and discovered 1,207,269 SHIB holders. The market forecasts a 40% to 50% increase. Therefore, investors anticipate a great deal of price volatility in the future.
Dogecoin, the leading meme coin of the crypto sector and the preferred cryptocurrency of billionaire Elon Musk, also had its price increase by 15% this week.
Having begun with a 15% increase, DOGE is currently anxiously attempting to surpass the crucial $0.087 per coin price barrier. If Dogecoin breaches this barrier and maintains its price, Dogecoin holders and aficionados may anticipate the continued growth of their favorite coin while keeping an eye on the crypto market as a whole.
For More About Uniglo:
Join Presale: https://presale.uniglo.io/register
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Was this writing helpful?
Credit: Source link