The first half of 2022 was quite devastating for cryptocurrencies, with major players like Bitcoin (BTC), Ethereum (ETH), or Solana (SOL) experiencing over a 50% decline.
However, the weak sentiment does not seem to fear newcomer Gnox (GNOX). With a 60% price gain following the conclusion of its first presale round, Gnox, a groundbreaking platform created to automate and simplify DeFi investing, defies the bear market.
While other tokens crumble in a bear market, GNOX is likely to end up being the next SOL. What gives the investors confidence to say that?
What Is Gnox (GNOX)?
The core competency of Gnox is its dedication to bridging the crypto and fiat worlds by demonstrating its advantages and usability to the general public.
Gnox created the initiative to reward long-term investors through the imposition of purchase and sell taxes, which are used to build a treasury.
Since it is the first reflection token of its type, token holders can use this treasury to benefit from the highest yielding prospects in the DeFi industry. This gives them the first-mover advantage.
What Makes Gnox (GNOX) Unique?
By introducing yield farming as a service, Gnox makes it easier for investors and individuals unfamiliar with staking and other strategies to gain from DeFi. Gnox makes DeFi investment available to everyone by shortening the procedure and making it as easy as possible. While investors were frequently turned off by the difficulties associated with DeFi investments, now they may just keep GNOX and receive passive income & monthly profits.
Moreover, Gnox has previously undergone a thorough security examination from one of the leading blockchain security companies in the industry, Soken, and is fully KYC certified.
While rushing KYC and Smart Contract audit authorization is not common for most presale phase projects, GNOX prioritizes safety, security, and comfort level for pre-sale customers.
All these have led to GNOX’s price surge dramatically. The project finished the first presale round with a 52% price increase. This result has been outperformed again, and currently, the presale coin reached 63% price growth. 63% price increase is a significant result considering the initial price of $0.01/GNOX.
A massive token burn event also caused the price boost. Gnox team burnt 2.5 billion unsold Gnox tokens after the first presale round, which caused limited supply and pushed the price further.
Will GNOX Be The Next Solana (SOL)?
Well-known Solana (SOL) has been among the leading altcoins for a long, with one of the craziest runs of 2021. SOL traded at roughly $2.50 at the start of 2021 and reached a high of $250.
However, what goes up must come down, and SOL has had one of the greatest retracements among altcoins, down more than 85% from its ATH.
Solana gained its popularity because it is faster, more scalable, and more secure than other cryptocurrencies. SOL was an innovative and progressive project of its time, but today we have GNOX. SOL reaching its ATH is under a question mark, while GNOX is believed to follow the SOL success path.
Bottom Line
To wrap up, GNOX is an innovation every investor has been seeking for a long. Its approach to simplifying a tremendously complicated procedure into a single investment vehicle is precisely what makes the project so appealing to newbie investors. Analysts strongly believe gnox can enter the market as the future Solana, with higher adoption rates and a stronger community.
Find Out More Here:
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
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Source: https://www.thecoinrepublic.com/2022/07/11/while-other-tokens-crumble-in-bear-market-gnox-gnox-could-end-up-being-the-next-solana-sol/