The massive sell-off in 2022 has reduced the combined market capitalization of the world’s cryptocurrencies by $1 trillion.
Bitcoin, the king of cryptocurrencies, is down nearly 37% year to date. Ether is performing even worse. Over the same period, it has dropped by nearly half. The devastation in smaller altcoins is even more severe. And the collapse of TerraUSD earlier this month has raised serious concerns about stable coins.
Despite a crypto market downturn, the Gnox token on the Binance Smart Chain is up 52 percent in the first week of its presale, Gnox is a new reflection token in the cryptocurrency space that has seen tremendous growth due to its passive income release plans.
The project team attributed the price increase to their advocacy of providing a simple DeFi earning solution for those new to the crypto industry.
Gnox experienced the price increase after completing a comprehensive background investigation and earning a Soken KYC badge on May 21, 2022.
“We believe that our solution will help every crypto investor in their search for a tool that will provide genuine financial utility,” says Gnox’s spokesperson.
“Gnox rewards long-term investors by providing them with a passive income that is proportional to the treasury’s earnings over time,” he adds.
All Gnox token holders will be eligible for the DeFi yield opportunities. The treasury will be used in DeFi protocols, and the yields it generates will be distributed in stablecoin proportionate to the number of Gnox tokens held.
This concept of creating and utilizing a “treasury” is certainly innovative and has the potential to be a success in the cryptocurrency market.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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