Bitcoin (BTC) and other virtual currencies have been around for years, but it wasn’t until 2017 that they really took off. The value of Bitcoin soared from around $1,000 in January to almost $20,000 by December, and other cryptocurrencies like Ethereum and Ripple saw similar gains. This newfound wealth has created a new class of crypto millionaires.
While the average person is still trying to wrap their head around cryptocurrency, these new millionaires are busy figuring out how to best spend and invest their newfound wealth.
Some invest in other digital currencies, while others use their crypto millions to buy luxury goods and services.
Uniglo (GLO), Cosmos (ATOM), Cardano (ADA) and Avalanche (AVAX) are expert-recommended gems with the potential to shape new crypto millionaires for the world. What’s holding you back?
Uniglo (GLO) is a brand-new ERC-20 token getting ready to launch on November 19. Social currency built on an asset-backing structure gives the project the reason to shine.
Uniglo has a unique burn mechanism to enhance the protocol and user ecosystem. Under their 10% tax model, the Glo foundation has a burn rate of 2%. 2% of each purchase or sell transaction of the $GLO token is automatically transferred to a burn address, removing it from circulation indefinitely.
In contrast to the present monetary system, this decreases the supply of $GLO tokens forever, generating a naturally deflationary environment.
Moving ahead, Cosmos (ATOM) will be an essential participant and component in the blockchain realm. Cosmos presents a network of blockchains and enables the transfer of assets and data across distinct blockchains. The current adversarial nature of the digital asset market is underscored by the names given to layer one initiatives, such as “Ethereum Killers.”
Multi-chain is the future, and the interoperability of sovereign blockchains will be crucial to the success of blockchain as a whole.
Cardano (ADA) is a network that has repeatedly shown its value. The Cardano network, created under the direction of Charles Hoskinson, is a prime example of blockchain architecture.
Following the Alonzo hard fork, Cardano continues to deploy hundreds of smart contracts on its network. Due to the forthcoming Vasil hard fork, which will result in a massive revamp of the network’s scalability, the price of ADA is expected to skyrocket in the following months and beyond.
A few years ago, Avalanche (AVAX) was presented as a blockchain transaction processor and data storage solution. It is a platform that provides blockchain developers with hosting services and handles the launching of DeFi. Avalanche (AVAX), which is mostly interoperable with Ethereum, is distinguished by its rapid transaction speeds.
Avalanche (AVAX) might be a highly valuable token due to the strong demand for its usefulness, which arises from the fact that it is a component of several ecosystems.
Avalanche (AVAX) blockchain also utilizes smart contracts to facilitate various DeFi initiatives. AVAX coin is used to pay transaction fees and safeguard the Avalanche network.
While cryptocurrencies have been around for a while, their potential to make new millionaires remains largely untapped. With the recent surge in popularity and media attention, more and more people are beginning to invest in Uniglo (GLO), Cosmos (ATOM), Cardano (ADA) and Avalanche (AVAX).
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