As the easy monetary conditions that helped cryptocurrencies thrive have come to an end and interest rates have risen, cryptocurrencies have come to a screeching halt in 2022. Additionally, many industry players have made the recession worse by taking on too much leverage and being caught off guard. when crypto prices fell. This led to a wave of forced sales and insolvencies which further depressed prices.
However, as the cryptocurrency recovers, newcomers such as Gnox among others have performed exceptionally well. Even crypto analysts are predicting 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 goal is to simplify investing in DeFi for both new and seasoned investors.
Each buyer who buys and holds a Gnox token generates the same amount of passive income. The project can continue to provide passive income to its investors by investing treasury money into staking opportunities, liquidity pools, and loan protocols. Profits from their “treasury” are then distributed to Gnox holders each month.
Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA)
While the largest cryptocurrency by market capitalization fell 2.9% to $22,850, Bitcoin clawed back recent gains.
Thursday’s drop came after an 11% rise over the past seven trading days.
Bitcoin price has yet to break above its 50-day exponential moving average (EMA), but it is stubbornly closing in on it. Ether’s price, on the other hand, is still above the 50-day moving average (EMA) but below the average investor’s buy price. Recently, the price of Ether has decreased by 0.9% from the previous day.
In contrast, Cardano was down 10.14% on the day, trading at $0.4849 on Thursday. Since June 16, it was the largest percentage loss in a single day.
Cardano’s market cap declined due to the downward move to $16.4246 billion, or 1.61% of the cryptocurrency’s total market cap. Cardano’s market capitalization peaked at $94.8001 billion.
Over the past 24 hours, Cardano had traded in the range of $0.4769 to $0.4979.
Gnox (GNOX) works fine.
Gnox offers cryptocurrency investors an incredibly easy way to invest in a variety of cryptocurrencies and generate passive income – yield farming as a service.
The sale of the previous pre-sale round indicates that there is a lot of interest in this DeFi protocol. It could be the first DeFi platform to gain widespread adoption.
Gnox is currently in its third pre-sale, and all unsold tokens will be burned as soon as the last round closes, making the token permanently deflationary and generating ongoing passive income.
Learn more about Gnox:
Join the presale: https://presale.gnox.io/register
Always do proper research when dealing with currency and token presales. The above information does not constitute investment advice from CryptoMode or its team, nor does it reflect the opinions of the website or its staff.
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