Two crypto tokens have caught the attention of BNB whales lately — one old and one new. The first is good old Dogecoin (DOGE). The second is a newcomer – a DeFi utility token called GNOX. Let’s give each of these tokens a look to see where they came from and where they might be headed.
Dogecoin (DOGE) – a token with a sense of humor
Dogecoin has been around for some time now. After making a spectacular run last year, the token began receiving more attention from crypto whales. Moreover, the development team has been working to instill DOGE with added utility while several consumer platforms including Tesla and AMC cinemas have added the token as a form of payment for their products and services.
Tesla has begun accepting DOGE for some of the merchandise that the car and solar company sells on its website. CEO Elon Musk announced this back in mid-January on Twitter. However, you can’t buy a car with it – yet.
Dogecoin, originally launched as a joke cryptocurrency, saw its value skyrocket after Musk made it known in 2021 that he fancied the project. He has tweeted about DOGE several times since then and has reportedly been working with DOGE developers to help improve the token’s efficiency.
Musk says that people who have a good sense of humor love DOGE. Speaking about Dogecoin co-creator Billy Markus, musk said, “Billy’s sense of humor and irreverence is a big part of why people love dogecoin.”
Many crypto whales are convinced that DOGE has hit a bottom and that now is a good time to get on board with a long-term investing focus.
Gnox (GNOX) – a DeFi utility token with a twist
Gnox aims to become a leader in the Defi sector. GNOX token, which runs on the Binance Smart Chain (BSC) is what’s known as a “reflection token.” Sometimes also called a “rewards token,” this refers to crypto-assets that reward holders by airdropping the token into the wallets of current holders without any effort on their part.
In the case of GNOX, a team of expert DeFi analysts invests funds in the Gnox treasury into reputable liquidity pools, staking platforms, and peer-to-peer lending protocols to earn interest, giving the token an inherent bias to the upside. Profits from these activities are then shared proportionally amongst GNOX holders. According to the website, “Gnox strategies have been tried, tested, and used daily by our DeFi experts.”
The platform’s mission is to greatly simplify DeFi investing. GNOX investors merely need to buy and hold the token to earn a positive return on investment. Unlike some DeFi platforms where a handful of users make money and the rest lose money, all holders of the GNOX token share the same rewards.
The Gnox contract has been specifically designed to benefit early adopters the most. With every GNOX transaction, 1% of the total amount is redistributed amongst current holders every 60 minutes.
Given that the treasury will be invested in DeFi opportunities rather than volatile investments, it’s hard to see how this token could ever go down in value without a total failure of the platform — which seems quite unlikely.
GNOX token is currently in pre-sale mode until July 12th with the platform launching on July 18th.
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://cryptodaily.co.uk/2022/06/doge-and-gnox-token-gnox-return-as-top-purchased-coin-by-bnb-whales