Bitcoin dominance (Bitcoin’s percentage of total market share) is decreasing whilst Bitcoin moves upwards in price. Money is flowing to altcoins and flowing rapidly. August will be a brilliant month for crypto investors with no rate hikes and bullish winds from the stock markets; this increasing risk-on environment will see many altcoins rally. Uniglo (GLO), Dusk Network (DUSK), and Chainlink (LINK) have been touted by crypto analysts to see significant gains.
Uniglo (GLO)
Uniglo is a new Ethereum-based social currency. GLO has its value supported by the Uniglo Vault, which acquires a collection of NFT, digital, and real-world assets. This accumulation is funded by buy and sell taxes, with 5% of every transaction placed into the protocol treasury. The treasury then purchases a broad range of assets.
The vault will include stablecoins to hedge against volatility, other digital assets such as BTC, BNB, and ETH to take advantage of price appreciation, and high-end assets that individual investors might not have the capital to access, such as fine art. Assets have been utilised by the rich for generations to store wealth, and GLO reintroduces notions of scarcity and tangible asset backing to currency. GLO mixes wealth preservation and growth speculation into a single token and is an opportunity for investors to expose themselves to multiple assets; making this token an excellent choice for the coming months.
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Dusk Network (DUSK)
Dusk Network is a layer one protocol that targets a rapidly expanding vertical. Projects looking to supplement the inefficiencies of TradFi (traditional finance) by leveraging blockchain technology. Dusk is designed to preserve privacy and allows companies to automate expensive processes and tokenise financial instruments. Dusk is a blockchain designed for securities and introduces a novel PoS (Proof of Stake) consensus mechanism. This is one of the first blockchains created to be in accordance with business compliance criteria.
This relatively small cap crypto is a hidden gem, currently ranked at three hundred and fifty-fourth by market cap and trading at $0.15. Dusk Network is a project with the potential to break into the top hundred.
Chainlink (LINK)
Chainlink is a decentralised oracle network that feeds real-world data into the blockchain. Smart contracts and DeFi (decentralised finance) are naturally incredibly isolated as they lack the ability to fetch external data. Chainlink gathers this external data and feeds it into any blockchain, representing a crucial step in connectivity. A simple example is a price feed, and Chainlink’s oracles power the popular DEX (decentralised exchange) aggregator 1inch.
LINK trades at $7.76, and its growth is inevitable. The use of decentralised oracles will become more necessary as DeFi grows and its role in the financial framework increases. Chainlink forms the essential bridge between blockchains and real-world data; with a staggering value proposition, violent price action will naturally follow.
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