For those of you who are following it, I probably don't need to explain much about what UTK is. On the other hand, for those of you who are unfamiliar with it, it's a token from a payment platform called xMoney.
Most recently, they did a rebranding and merged with one more project. Everything is under the MultiversX roof. Now they are providing both crypto and fiat payments.
However, I want to talk about UTK itself. Imho, there is some bullish news that has not been followed by the price yet, but with a spike in BTC, I expect some movement from this alt too.
Max supply is reduced from 1.4 to 1.05b, for 1/4 less than before. A token burn mechanism is also in the pipeline, meaning maximum supply will never become a circulation supply. I think that's very important.
Staking rewards are still ongoing, with around 25% APY, which will be reduced to 10%, so if you hold it, you should stake it and milk all possible passive income.
UTK will also have a key role in the ecosystem, not just for payments but also for passive income for users and merchants. I believe this will be the first project that will actually reward merchants, not like PayPal, which has complete freedom to use merchants' money for their own benefits.
There will be more utilities through the staking for cashback, cards are around the corner too. As I said, there is plenty of good news that will happen this year, and with a kick of bullrun, I expect a spike in UTK.