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SOLO

About Sologenic (SOLO)

Sologenic describes itself as a "sophisticated ecosystem" built atop of the XRP ledger.

It facilitates investing and trading among blockchain assets (cryptos) and non-blockchain assets, such as stocks and commodities futures.

SOLO is the Sologenic ecosystem’s native token. It’s used for market making and liquidity provisioning, according to Messari.

Take Tesla stock, in a given example, per the Sologenic white paper; in this example, TSLA would be presented on the platform as a tokenized stablecoin ("TSLAƨ"). These stablecoins are thus tradable and redeemable against XRP.

"SOLO creates a dynamic bridge between crypto assets and non-blockchain-based assets," Messari said.

Sologenic as of December 2021 was set to airdrop $1 billion of SOLO to XRP holders, it said.

The current price of SOLO

As of early April 2022, per CoinGecko, SOLO was trading at about $0.36, having shed 28% since the start of the year. SOLO’s decline in the first three months of 2022 coincided mostly lackluster performance across the digital asset markets. SOLO experienced a great deal of volatility towards the end of 2021. In October, the coin hit an all-time low of $0.06. From rock bottom, it then rose more than 1,000% to reach an all-time high of $6.55.

How the price of SOLO is determined

SOLO’s price partially stems from the token’s deflationary nature. Per Messari, SOLO has a total supply of 400 million, roughly half of which is currently in circulation. Some 10% of initial supply was formally offered to the public, while roughly 35% resides with the project’s core development team. 

What the bulls are saying

*Sologenic, via SOLO cards, hopes to bring the cash-back concept popularized by traditional credit cards into the crypto world, said The Motley Fool.

*“Sologenic is a sophisticated ecosystem disrupting the asset trading industry, utilizing the on-demand tokenization of a wide range of assets,” Forbes said.

*SOLO will be worth more than $11 in ten years, TechNewsLeader said.

What the bears are saying

*Any cryptocurrency focused on providing utility must have a baseline population to make its platform worth considering and right now Sologenic's problem, like a lot of other projects, is the lack of adoption, said Marko Mihajlović, a blockchain industry member writing in early 2022.

* Technical charts as of April 1, 2022, showed a slight divergence to the downside, meaning the prices may very well be in a bearish market, InvestingCube said.

*The value of SOLO was forecast to decline 3% by the end of the first week of April, CoinCodex said.

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This content is correct as of March 2022.

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Uphold Europe Limited (Uphold), Registered No. 09281410, Registered Office: Suite A, 6 Honduras Street, London England EC1Y 0TH.

Uphold (FRN: 938277) is registered with the Financial Conduct Authority (FCA) for AML purposes and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer).

Uphold is also an EMD agent (FRN: 938277) of Optimus Cards UK Limited (FRN: 902034) which is authorised and regulated by the Financial Conduct Authority to issue e-money pursuant to the Electronic Money Regulations 2011.

The purchase, sale and custody of cryptoassets are regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Cryptoassets are very high risk and speculative.  When purchasing, selling and/or holding cryptoassets, you will not have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial circumstances.

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Additional risk warnings are contained in Uphold’s Terms & Conditions