The crypto world is volatile, and this has been especially evident in the past few months. At the end of the second quarter of 2022, many investors find it challenging to understand which direction the market is headed. Bitcoin (BTC) appears to be struggling to break above $31,000, which is only half of its all-time high. While BTC is expected to remain sideways for the next few months, the revolutionary Gnox token (GNOX) has surprised and excited investors during its pre-sale phase.
Given the recent attention in the crypto industry, Gnox remains a highly anticipated project.
The hype surrounding the coin has grown in recent weeks as numerous media outlets have begun to report on its exciting July launch.
Gnox is one of the most revolutionary DeFi platforms and projects in the crypto world right now. Given the complexity of the DeFi world that is difficult for beginner traders to understand, GNOX aims to provide a cleaner and more straightforward solution suitable for novice and seasoned traders.
Built on Binance Smart Chain, Gnox is an infinitely scalable platform designed to demystify DeFi income for investors of all levels. It paves the way for the next generation of reflection tokens to bring stable DeFi rewards to holders without requiring them to take further complicated steps.
Gnox provides yield farming as a service. Yield farming is a relatively low-risk practice, meaning that crypto buyers and holders gain returns of up to 50% APY (Annual Percentage Yield). Gnox treasury funds are risk-free and constantly generate income for their holders.
The yield farming system supports the Gnox ecosystem by levying a 10% tax on every transaction, with GNOX token holders getting a 1% share and the rest reserved for development and marketing.
The wild rise in price (Up by 60%) even in the presale phase is a testament to the coin’s future success. Gnox is currently trading at $0.016.
Bitcoin (BTC) Still Struggles To Recover
Bearish sentiment has been an ongoing theme over the past few months, keeping some cryptocurrency buyers on the sidelines.
The world’s first decentralized cryptocurrency, Bitcoin (BTC), has also fallen victim to the crypto market crash, currently trading at $29,149.13. The Bitcoin Fear and Greed Index is back in “extreme fear” territory, reversing the modest gains of the past few days.
Bitcoin dipped below the $33,000 resistance last week, signaling a weakening of bullish momentum. This reduces the likelihood of a sustained recovery rebound.
However, Bitcoin (BTC) is still seen as a hedge against inflation, which means its price will eventually recover.
When a brutal bear market scares investors, and even Bitcoin, the world’s largest cryptocurrency, struggles to recover, GNOX enters the market with a strong bullish pattern.
It’s exciting to see newly launched coins thrive amid this bearish sentiment. The revolutionary GNOX is seen as a realistic altcoin with optimistic price predictions.
The first pre-sale phase ended on June 12, and according to the company’s Telegram channel, unsold $GNOX tokens were burned, which in turn signals a further price increase.
GNOX will be listed on PancakeSwap in August.