Uniglo.io(GLO), Flow, And Monero Tokens Are The Top Trending Crypt…

Starting out in the crypto market can be challenging, considering the massive number of cryptocurrencies floating around. Smart investors always focus on crucial factors, including fundamentals, long-term utility, and community backing. The potential of any project is not only defined by innovative use cases but also by how it can withstand the test of time. Speaking of which, below are the top three trending cryptos this week to keep an eye on.

Uniglo (GLO)

Uniglo is a new kid on the block with a revolutionary concept, much different than other reflection tokens in the market. It is the first community-owned social currency that will derive value from a basket of tangible and intangible assets. The price floor of GLO tokens will be backed by cryptos, NFTs, and digitized gold, which will be acquired through treasury funds. The protocol will accumulate assets from the revenue generated through a 5% tax on each GLO trade. Furthermore, it ensures constantly reducing supply by implementing an ultra-burn mechanism. 2% of each transaction will be sent to Uni Abyss, a burn wallet with no private keys. The project has garnered plenty of attention in the presale phase, and its been trending across several media outlets in the last couple of weeks.

Flow (FLOW)

Initially designed for gaming purposes, Flow is a blockchain platform that enables fast and cheap transactions. It uses a customized version of the PoS mechanism to achieve consensus and seamlessly facilitate a new generation of apps, digital assets, and games. Flow has a massive ecosystem comprising next-gen startups, development studios, and top entertainment brands. FLOW is the native token of the blockchain that powers the network and the applications built on top of it. The currency can be staked to earn rewards and also participate in governance.

Monero (XMR)

Monero was introduced to the crypto world at a time when there was a need for a privacy-based cryptocurrency. It uses various technologies to ensure user anonymity by keeping transactions untraceable and confidential. The XMR token of the Monero ecosystem is a form of electronic cash that enables anonymous payments across the world. The project is backed by a massive community of developers who are consistently working on disruptive technologies.