Cardano and Solana Fall, Gnox (GNOX) Presale Grows Strength to Strength
New projects are often extremely lucrative investments, Gnox is one of these projects.
Crypto investors in 2022 are no strangers to volatility in the market. In the same vein as 2021, albeit with currently slightly less growth, this year has been topsy-turvy at best. There have many opportunities to ‘buy the dip’.
Bitcoin, as ever, is the market leader. Its market cap is more than twice that of any other cryptocurrency and its market dominance is over 40% at the time of writing. The crypto market as a whole is down since the news of Terra Luna and UST.
Other major cryptocurrencies, specifically those inside the top 10 market cap rankings, have faced similar ups and downs. Worldwide events, like the cost of living crisis and Russia’s invasion of Ukraine, are having an effect on finance in general.
In an attempt to remain immune to market forces, many crypto backers are turning to pre-sales. New projects are often extremely lucrative investments, and until they are publicly released, they only increase in price. Gnox is one of these projects.
Cardano stumbles amid bear market (ADA)
Cardano is the eighth-ranked cryptocurrency and has a market cap of over $27 billion. It was founded by Ethereum co-creator Charles Hoskinson. Its transaction speed and low fees have seen it, at times, in among the top five cryptocurrencies. It exploded 1600% in 2021 to reach a new all-time high of $3.10.
2022, however, has not been as profitable. From the start of the year to the time of writing, ADA has dipped 40%. There have been rallies each month but so far ADA continues to trend downwards.
In positive news, Cardano whales have been continuing to pack their bags, and investors with 1-10 million, ADA tokens rose to $9.72 at the beginning of March. This indicates that major financiers are confident that ADA is one for the long term, if not the immediate future.
Another project that has been tipped for the long-term future is Solana. Similar to Cardano, SOL is down over the last week. A mere four months ago, Solana hit its peak of $260.
Since then, it has fallen by 68%. At the time of writing, SOL is valued at $83. Its weekly high was around $105, and it seems the bear market may push it down even further in the long term. However, In a volatile market, SOL has stood out.
For investors, of course, it is imperative to remain bullish and think of the bigger picture. Solana has been tipped by some to compete with Ethereum, especially with regards to NFTs, where currently it has much lower fees and often faster speeds than the ETH network.
Gnox presale thrives as Cardano and Solana falter
Gnox’s buzz has grown in recent weeks as several media outlets have been reporting on its exciting launch. Their planned projects have gained enormous attention from both mainstream outlets and on social media, topping off a great few days for Gnox and its developers since the announcement of its launch.
Gnox is the first DeFi earning protocol that provides investors with its new “Yield Farming As A Service.” It lowers entrance barriers by offering education, seamless investment tracking, and a single investment vehicle.
Gnox is a decentralized platform whose main goal is to connect the gap between the crypto and fiat worlds. It is known for providing an easy-to-use DeFi earning solution for those new to crypto.
“We believe in rewarding long-term holders by generating a passive income for them proportionate to what the treasury makes within the timeframe,” says their spokesperson.
The nature of paying rewards in $GNOX means that once they claim their rewards to pay their Gnox holders, there will always be buying pressure to support their underlying price.
The project itself looks to have useful applications in the real world. For users, it will bridge the gap between the Binance Smart Chain (BSC), Polygon (MATIC) Network, and Ethereum (ETH) Network. This allows holders to navigate across blockchains in order to find the best speeds and lowest fees for their transactions.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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