Place/Date: - June 19th, 2022 at 10:45 am UTC · 3 min read
The ongoing bearish market trend has affected all major cryptocurrencies. Although Bitcoin (BTC), the world’s first and largest cryptocurrency, should be a great hedge against inflation, it still suffered heavy losses. BTC’s price has almost halved from its November 2021 all-time high. The weak sentiment sweeping the crypto markets has led investors to withdraw funds and worry about their portfolios. However, some altcoins still managed to survive the aggressive market pattern. Gnox Token (GNOX) and Cardano (ADA) seem like logical alternative investment solutions to keep your portfolio green.
Gnox is a brand new reflection token that provides an easy money-making solution for investors new to cryptocurrencies. Gnox is the first protocol to offer yield farming as a service that will simplify DeFi investing into a single investment vehicle. The protocol is infinitely scalable and can be used by both retail and institutional investors.
How does the reflection token Gnox work? Reflection works by charging a tax (usually a percentage) on each transaction and distributing the fee to all token holders based on the percentage of assets they hold. Earning additional cryptocurrency is the ultimate goal DeFi investment mechanism yield farming.
In other words, using a yield farming system means that the Gnox platform offers cryptocurrency buyers returns of up to 50% APY (Annual Percentage Yield).
Gnox was very successful in the pre-sale phase, surging more than 50% in its first week. Crypto analysts attribute the successfully continued presale to advocacy for allowing newcomers to the crypto world to invest in its first week. The GNOX pre-sale is coming to an end. Visit the website for details.
Cardano (ADA) is a third-generation Proof of Stake (PoS) decentralized blockchain platform designed as a more efficient alternative to Proof of Work (PoW) networks. The scalability, interoperability, and sustainability of PoW networks like Ethereum are limited by infrastructure burdens such as rising costs, energy consumption, and slow transaction times.
After the crypto market crash, Cardano (ADA) has become the biggest gainer among the top 10 cryptocurrencies this week. The asset peaked at $0.63 in one day and gained 14% in one day, fueled by a frenzy over upcoming developments on the network. Cardano (ADA) is currently the sixth-largest cryptocurrency by market capitalization.
The most anticipated Cardano development is the launch of the Vasil hard fork. The impact of the hard fork is expected to be better than the Alonzo hard fork, which will be launched in mid-September 2021. The Cardano Vasil hard fork is expected to be a breakthrough development that will significantly increase the adoption of the Cardano project.
Market experts are optimistic about Vasil’s hard fork update and see it as a genuine reason for Cardano’s further surge. Although ADA has also been affected by the collapse of the crypto market, it is still considered one of the best investment options to bring your portfolio back into the green.
It is difficult to predict the future performance of crypto assets accurately. Both Cardano (ADA) and Gnox Token (GNOX) may experience some negative changes over time. However, with GNOX entering the market as the first DeFi yield protocol to offer “yield farming as a service,” it is very realistic to expect a surge of this token.