Will GNOX Token Become an Alternative to FTM and CRO?

The horrific cryptocurrency market crash hit major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and investors stressed about investing in smaller altcoins. Investing in Fantom (FTM) and Cronos (CRO) appears to be the main drag for traders due to the possible further inflation and a larger price drop. However, the newly released Gnox Token (GNOX) seems to have become a logical alternative investment choice due to its innovative “Yield Farming system” and well-established roadmap. Why? We will discuss the risks of FTM and CRO, then outline the factors that positively predict GNOX’s future.

Fantom (FTM)

Fantom is a secure and scalable smart contract platform designed to develop decentralized finance (DeFi) applications. It is intended to overcome transaction speed limitations that affect traditional blockchain platforms that run smart contracts.

Founded in 2018, the Fantom Foundation leads the development of open-source platforms. However, FTM prices have also not been immune to downward pressure as macroeconomic sentiment and geopolitical concerns weighed on the cryptocurrency market over the past few weeks.

Investors attracted to the Fantom blockchain, as seeing FTM as a potentially faster and cheaper alternative to Ethereum, may be disappointed that the price of the native FTM cryptocurrency token fell to $0.33 today. Fantom was sold for nearly $2 in November, meaning the coin has lost more than 80% of its value since the beginning of April.

Cronos (CRO)

Cronos (CRO) is the native cryptocurrency token of Cronos Chain, an open-source, decentralized blockchain developed by payments, commerce, and financial services company Crypto.com. The CRO blockchain is primarily used as a tool to power the mobile payment app Crypto.com Pay.

May 2022 started with a crypto market crash affecting Cronos and nearly all tokens, hinting at signs of deeper crypto winter. Despite a slight recovery in the ensuing days, Cronos hit a low of $0.17 and has traded mostly sideways since.

For several other reasons, Cronos crypto doesn’t seem like a very solid investment for traders. First, the company’s announcement to cut its dividend sent a very bearish message to investors. Additionally, the Cronos team eliminated the staking program, removing the opportunity for investors to earn passive income from staking.

Recent price changes have also forced investors to flee other altcoins. How is Gnox different?

Gnox (GNOX)

Gnox is a new token scheduled to launch on July 18. GNOX is already attracting attention in the presale phase and is one of the hottest projects to expect in the second quarter of 2022.

Gnox is the forerunner of a new wave of reflection tokens. Gnox provides yield farming as a service and implements a sale and purchase tax to support this goal. This is the first project to allow token holders to generate passive income from a growing treasury funded by purchase and sales taxes, which is then deployed under a DeFi protocol.

This is the first protocol to tailor a treasury to its investors. During its presale, besides the crypto market’s bearish trends, GNOX managed to increase its price by 52%, sending positive signals for the future.

Bottom Line

The massive crypto market crash has put severe pressure on investors and stole their hopes for the positively predicted coins. However, innovative projects like Gnox have brought new standards and refreshed investors’ confidence.