BNB whales are one of the most powerful and wealthy groups of BNB holders, and they play a major role in influencing the price. Recently, the attention of BNB whales has been drawn to Gnox (GNOX), an emerging project with huge potential. Why do whales invest in BNB and what gives them the confidence to add GNOX to their portfolio?
Binance Coin (BNB)
The Binance Coin (BNB) price increase has been driven by a number of factors, including increased demand from institutional investors and growing awareness of the coin among retail investors.
Binance Coin (BNB) is the native currency of Binance Chain, a public blockchain developed by Binance and its community. Binance Chain is a powerful decentralized exchange (DEX) platform that enables the trading of digital assets.
BNB was created for use on the Binance platform and can be used to pay for fees, including transaction fees, withdrawal fees, and listing fees. Binance Coin (BNB) acts as a utility token in the Binance ecosystem and can also be used to buy other cryptocurrencies listed on Binance.
Binance Coin was initially issued as an ERC-20 token on the Ethereum blockchain, however, later it was migrated to Binance Chain and launched as a native currency. The total supply of BNB is 200 million, minted through a process called on-chain burning. As the native currency of Binance Chain, BNB plays a key role in the ecosystem.
BNB Whales – Largest Market Players
BNB whales are one of the largest market players in the current market and have a significant impact on market trends.
The number of Binance Coin whales holding 100,000 or more BNB has increased by 84.6% over the past few months. So it’s clear why BNB Whale’s decision is worth considering.
According to data from WhaleStats, GNOX has been on the list of coins being chased by BNB whales.
BNB whales have always pinned their hopes on DOGE. The meme cryptocurrency accounts for 28.82% of whale holdings. While DOGE has a lot of potential, it is a relatively old project, and whales are getting a lot of exposure to the newly released GNOX in hopes of a price increase.
Gnox (GNOX)
Gnox is a revolutionary reflection token that provides yield farming as a service and works on top of BSC (Binance Smart Chain). Gnox aims to provide investors with a simplified DeFi platform to generate passive income for Gnox holders easily.
Gnox charges a 10% royalties fee on every sale of GNOX tokens to make the rewarding mechanism work. A large part of the taxation funds the treasury and ensures its growth, and part of it goes to investors as an incentive. The primary goal of the Gnox protocol is to help new investors get along with DeFi and generate passive returns easily. For each GNOX payment, 1% of the total value is split hourly among Gnox holders.
The new GNOX project is in the pre-sale phase, with a final release scheduled for mid-August. With the bear market continuing, the price of this innovative project has surged by 63%. The stellar performance gave BNB whales the confidence to add GNOX to their portfolios.
Bottom Line
BNB whales have a massive influence on overall market trends and prices. Gnox is expected to reach a 100x price boost by late August, after its listing date. BNB Whales take note of the token’s current performance and see the current state as an excellent buying opportunity.
Learn More About Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io/
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Source: https://coinpedia.org/press-release/binance-coin-whales-add-gnox-to-their-portfolios-amid-prices-surge/