Bitcoin
Gnox (GNOX) Late Pre-Sale Days Show Massive Gains as Bitcoin (BTC) and Ethereum (ETH) Remain Stagnant
What happened to cryptocurrency? This is the question that comes to the mind of every investor. The two major cryptocurrencies in the world, Bitcoin (BTC) and Ethereum (ETH) went into a downtrend and caused a general collapse of the cryptocurrency market.
Devastated investors have fled to altcoins in search of promising solutions, one of which is Gnox (GNOX) – a token still in a pre-sale stage that has shown massive gains overnight.
Bitcoin (BTC)
Bitcoin is the world’s first cryptocurrency designed to be used as a means of money and payment that is not controlled by any individual, group or entity, thus eliminating the need for third parties to participate in financial transactions.
Bitcoin was released to the public in 2009 and has since become the most popular cryptocurrency in the world. Its popularity has become an inspiration for many other cryptocurrencies. The digital currency had a roller coaster ride in 2021, dropping to a low of $23,000 in July but hitting an all-time high of around $69,000 on Nov 10, 2021.
However, it has been on a downtrend throughout 2022 and is now worth approximately $30,000. Various external factors play a role in price development, such as China’s ongoing crackdown on cryptocurrency mining or Russia’s invasion of Ukraine.
According to market experts, Bitcoin is expected to drop to $10,000 in 2022, but the world’s most popular cryptocurrency is also believed to reach $100,000. Currently, Bitcoin continues to struggle.
Ethereum (ETH)
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap and the largest altcoin, also saw a major rally in 2021, hitting new all-time highs.
Since then, the coin has hit new lows and currently, like Bitcoin, Ethereum remains stagnant.
Ethereum is currently trading at $1,758, and ETH has a total market cap of $213.6 billion. This DeFi asset has lost $17 billion in market capitalization in the last 24 hours alone.
One of the possible reasons for ETH’s current bearish action is the decrease in DeFi activity on Ethereum and the decline in Bitcoin trading activity.
Gnox (GNOX)
With the world’s top cryptocurrencies shrinking, it’s time to look at altcoins. Gnox, a newly launched altcoin, has already outperformed its peers, increasing its price by 52% even in the first pre-sale phase.
The concept of Gnox is new to the cryptocurrency market and has the potential to become a global hit as it is the first token with a protected treasury to invest in a DeFi yield protocol for holders.
This allows Treasury to generate higher returns from other protocols, while returns from $GNOX appear out of nowhere. This innovative approach looks appealing to investors as it provides an easy-to-use DeFi monetization solution for particularly budding crypto enthusiasts.
GNOX is also especially attractive as it allows users to earn passive income through referrals and redistribution of transaction fees.
The price of GNOX rose significantly in just the first week of the pre-sale period (May 12-June 12, 2022) and showed a phenomenal increase for a newborn coin in a market full of competitors.
The latest price for GNOX is $0.0152 and is expected to double by the end of the first pre-order period.
The second pre-sale is from June 12, 2022 to July 12, and the final release date for the GNOX token is July 18, 2022.
The coin is planned to appear on various networks like Polygon and Ethereum soon.
So, if you are alarmed by the current bear market in the top cryptocurrency, you might want to learn more about new projects like GNOX.
Learn more about GNOX:
Passive income made easy with these two cryptocurrencies; Token Gnox (GNOX) and Kava (KAVA)
What is passive income? Passive income is money generated by investments, real estate or side business activities. Simply put, passive income is the goal of achieving steady cash flow without having to work full time every day. If you are looking for ideas to generate passive income, these two cryptocurrencies are especially easy: Gnox Token (GNOX) and Kava (KAVA). What is the concept of these tokens and how do GNOX or KAVA secure your passive income?
Gnox Token (GNOX)
Gnox is the first DeFi yield protocol to offer yield farming services to investors. Gnox’s income cultivation process is key to adding value to the token and is an excellent source of passive income.
What Exactly Is GNOX’s DeFi Yield Farming Service? Also known as liquidity mining, yield farming allows investors to earn passive income by investing their cryptocurrencies or crypto assets on decentralized platforms and increasing their prices. Speaking of GNOX, its users can generate new GNOX tokens by investing in the liquidity pool of the Gnox DeFi platform. The GNOX platform will use these coins to maintain liquidity, trade, lend and borrow. While the GNOX platform receives fees for these transactions, Yield Farmer investors, in turn, receive a share of the tokens based on their investment in the liquidity pool.
In short, when people lock their Gnox tokens on the blockchain network, they earn rewards.
Gnox’s philosophy is to reduce risk by investing in a diversified portfolio across multiple DeFi platforms and blockchains. This diversification reduces the downside risk faced by holders of the UST da Terra stablecoin. Second, it generates ongoing passive income – something most crypto tokens don’t have.
As such, GNOX’s innovative income farming seamlessly provides cryptocurrency enthusiasts with passive income through transaction fees on the Defi platform.
GNOX’s exciting approach to yield farming has become of great interest to investors as the token gained 52% in its first pre-sale phase.
Gnox promises 20% bonus and some other benefits for early investors. Find more detailed information about $GNOX pre-order dates at gnox.io.
Kava (KAVA)
Kava is a cross-chain DeFi platform that provides stablecoin loans and guarantees to users of major crypto assets such as BTC, XRP, BNB, and ATOM. Crypto asset collateral allows users to borrow USDX. USDX is a stablecoin on the KAVA platform.
Kava is based on Cosmos and uses a Tendermint-based Proof of Stake (PoS) consensus mechanism. This means that users who hold KAVA tokens will receive staking rewards for using their stakes to support the operation and security of the Kava network.
The key to using KAVA tokens as a passive income source is their staking nature.
Direct staking is a way to earn passive income, earning rewards for holding a certain amount of cryptocurrency in a staking pool for a period of time.
KAVA users who hold their crypto assets validate blockchain transactions based on the amount of cryptocurrency they hold.
They can earn native KAVA tokens as a reward for contributions to this verification process or staking pool.
Staking is a technical and straightforward process, and yield farming is considered a more advanced and newer method.
Rather than increasing liquidity and providing lending services, staking strengthens the blockchain, while income farming pays close attention to rewards and user experience.
Staking and income farming are both accepted forms of passive income. While proof-of-stake mechanisms are widely used in crypto tokens, Gnox is saying a new word with its income farming system. Investors and analysts are bullish on the newly created currency (GNOX) due to its advanced approach.
