Burn Mechanism On Uniglo (GLO) Likely To Cause Supply Shock Pump To Alongside Dash (DASH) And PAX Gold (PAXG) In Top 100
As the world increasingly turns to digital assets as a store of value, one question that looms large is which assets will come to dominate the new digital economy. In the past, we’ve seen different assets rise to the top, only to be replaced by others as the market evolves. This time, however, it looks like Uniglo’s burn mechanism is likely to cause a supply shock that could propel its token into the top 100, alongside Dash and PAX Gold.
Dash has been able to post some upward growth over the past few weeks. Over the past week, Dash’s price has risen by more than 3%. It is currently trading for about $46. In order to gain upward momentum, DASH has left the horizontal range-bound region. It is now being raised above the consolidation period by the bulls.
On the platform, trade volume has increased. The platform’s growth is heavily dependent on trade volumes, so the recent uptick in market trends portends a future increase in Dash prices. It is still 97% below the 1642.22 all-time high, though.
PAX Gold (PAXG)
PAXGOLD is a digital asset token where each token is backed by one troy ounce of a 400 oz London Good gold bar stored in the Brinks vault. If one owns PAXG, they also own the physical gold that underpins it, which is kept in custody by the Paxos trust company. There are 18985 holders of PAXG in total.
The coin has a $588,663,382 total market cap and is ranked 67th in the cryptocurrency world. In the intraday session, the asset’s volume increased by 107%. The asset’s volume to market cap ratio points to upward momentum.
Uniglo developed an ultra burn method to maintain the floor price of its token and prolong its appreciation. A decrease in supply and an increase in the price of $GLO will eventually result from the more Ultra-Burns that will occur as a result of increased sales and earnings inside the treasury.
The Uniglo Ultra Burn Mechanism will be financed in part by the proceeds from the sale of assets that were previously stored in the Uniglo Vault but have appreciated in value. In addition, Uniglo employs a different strategy to burn 2% of the token for each purchase and sale. This deflationary approach is guaranteed to produce a long-term and ongoing increase in price as the token’s supply declines over time.
It is safe to say that the Uniglo burn mechanism is likely to cause a supply shock pump that will see it become one of the top 100 alongside Dash and Pax Gold. This is because the Uniglo team has set a very high bar for themselves in terms of tokenomics and they have shown that they are not afraid to experiment with new things in order to push the envelope.
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