Bitcoin is trending upwards, sat firmly above its 21-day moving average; Bitcoin has consistently used this line as support. With no more rate hikes until September and news of the world’s largest asset manager BlackRock formally entering the crypto sphere, Bitcoin is flashing bullish indicators that it will continue its upwards trajectory. Bitcoin moves the entire market, and when it climbs 5%, altcoins can climb up to 20%.
One new relatively small-cap crypto project is utilising the bullish market sentiment to maximum effect, the reflection token Gnox (GNOX) launches this week, and the developers have announced an addition of $50,000 to the protocol’s treasury. Gnox enters price discovery in bullish sentiment following a sold-out ICO phase, and now all holders will be earning passive income as soon as the token launches.
Gnox is likely to be one of the most exciting launches of 2022 and will outpace the gains of Aave (AAVE) and ApeCoin (APE).
Gnox (GNOX)
Gnox is bringing a shake-up to DeFi (decentralised finance) earnings; DeFi is the fastest growing economic sphere, and Gnox ensures everyone can participate. Leveraging buy and sell taxes to build a treasury fund deployed in protocols to earn on behalf of investors. The developers of Gnox have created a single investment vehicle granting exposure to yield farming. Gnox is the first protocol to offer yield farming as a service, and all investors have to do is hold GNOX to receive a monthly stable coin reflection.
Loading the treasury with $50,000 means that at launch, the passive income earning has already started, and every GNOX holder will receive their first stablecoin payout in 30 days. Gnox is coming out of the gate strong. With the growth-orientated nature of the treasury, long-term holders can look forward to receiving increasingly larger stablecoin reflections each month.
Aave (AAVE)
Aave is a DeFi giant and played an integral role in the proliferation of decentralised lending. DeFi lending has become one of the most highly capitalised sections of DeFi, and Aave’s smart contracts currently contain more than $7.3 billion. The TVL (Total Value Locked) of the platform is snowballing, up 20% this week, and more investors are locking their assets on the platform to generate yield or gain greater market exposure.
An upswing in TVL in DeFi means bullish investor sentiment. Investors only lock their assets up when they believe they will appreciate instead of keeping them on hand for a quick sale. AAVE is the governance token and has consistently performed well whenever Aave draws more liquidity.
ApeCoin (APE)
ApeCoin is the governance and utility token for the entire Ape ecosystem. Yuga Labs launched the token to allow community ownership and governance of the APE community. Creator of the massively popular Bored Ape Yacht Club, Yuga Labs, is consistently pushing the development of blockchain technology and the creation of Web3. APE is the medium of exchange within this pioneering ecosystem.
Find Out More Here:
Website: https://Gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Was this writing helpful?
Source: https://coinpedia.org/press-release/gnox-dao-will-outpace-with-its-loaded-50000-usd-treasury-gains-of-aave-apecoin/