As the easy monetary conditions that helped cryptocurrencies thrive have ended and interest rates have risen, cryptocurrencies have come to a screeching halt in 2022. Furthermore, a lot of industry players have made the downturn worse by taking on too much leverage and being caught off guard when crypto prices fell. This led to a wave of forced selling and insolvencies that further lowered prices.
However, as cryptocurrency recovers, newcomers such as Gnox, among others, have performed exceptionally well. Even crypto analysts predict that Gnox could be the token to outperform Bitcoin, Ethereum, and Cardano.
What is Gnox (GNOX)?
Gnox is a unique DeFi utility token. Its main objective is to simplify investing in DeFi for both new and seasoned investors.
Every buyer who buys and holds a Gnox token generates the same amount of passive income. The project can keep providing passive income to its investors by investing money from a treasury in staking opportunities, liquidity pools, and lending protocols. The profits from their “treasury” are then distributed to Gnox holders each month.
Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA)
As the largest cryptocurrency by market capitalization fell 2.9 percent to $22,850, Bitcoin recovered recent gains.
The drop on Thursday came after an 11 percent rise over the previous seven trading days.
The price of bitcoin has not yet surpassed its 50-day exponential moving average (EMA), but it is stubbornly close to it. Ether’s price, in contrast, is still higher than the 50-day moving average (EMA) but lower than the average investor’s purchase price. Recently, the price of ether decreased by 0.9 percent on the previous day.
On the other hand, Cardano was down 10.14 percent on the day, trading at $0.4849 on Thursday. Since June 16, it was the biggest percentage loss in a single day.
Cardano’s market cap decreased due to the downward movement to $16.4246B, or 1.61 percent of the total cryptocurrency market cap. Cardano’s market cap peaked at $94.8001B.
In the previous 24 hours, Cardano had traded in a range of $0.4769 to $0.4979.
Gnox (GNOX) is performing really well.
Gnox gives cryptocurrency investors an incredibly easy way to invest in a variety of cryptocurrencies and generate passive income – yield farming as a service.
The previous presale round’s selling out indicates that there is a lot of interest in this DeFi protocol. It might be the first DeFi platform to experience widespread adoption.
Gnox is currently in its third presale, and any unsold tokens will be burned as soon as the final round closes, making the token permanently deflationary and generating ongoing passive income.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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