As its launch date approaches, Gnox is attracting interest from all corners of the ecosystem during its three presale stages. Whales are very interested in this low-touch DeFi earning solution, which is scheduled to launch in Q3.
The potential of the Gnox project has been repeatedly emphasized by analysts as it enters its third presale phase, which is coming to an end. It appears that a number of investors have already realized this, as evidenced by the second presale phase’s complete sellout.
What is Gnox (GNOX)?
The protocol’s best-kept secret is the Gnox treasury. It is used in tried-and-true DeFi protocols to generate income for investors. All of the generated yields are converted into stablecoin each month and distributed to investors according to the number of Gnox tokens they own.
This treasury, which is financed by buy and sell taxes, will expand as Gnox is traded more, increasing its capacity to produce income. This implies that as the treasury grows over time, Gnox holders will receive higher stablecoin payouts. The Avalanche and Solana whales were attracted to the protocol by this single investment vehicle and its reliable monthly income.
Ethereum (ETH) and Avalanche (AVAX) resisting upwards price movement
Ethereum is down nearly 10% today after a week of strong gains, with other cryptos like Avalanche among other notable coins in the red.
With Ethereum, Avalanche, and other top coins losing some of their recent gains, prices are dropping once more after a week of gains across most of the cryptocurrency market. As a result, the total market cap has dropped below $1 trillion for the first time in several days.
According to the website, Ethereum (ETH), which is currently trading at $1,366, is the top loser among the top 10 coins by market cap.
It’s a sharp contrast to last week, when Ethereum saw the biggest increase among the top coins, reportedly in part because of growing certainty regarding the timing of the “merge,” an upgrade that is anticipated to lower transaction costs for network users and possibly reduce the amount of ETH that is currently in circulation.
On the other hand, the price of Avalanche dropped 7.98% to $20.4 in the previous day. It has lost 18.0 percent of its value over the past week, going from $24.95 to its current price, continuing its downward trend.
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