Gnox Token (GNOX) Meets Increased Demand in Pre-Sale while Bitcoin (BTC) Holds its Ground

Entering the final leg of Q2 of 2022 many investors are struggling to understand in which direction the market is going to move. Bitcoin seems to be consolidating in the range of $28,000 to $31,000 and looks likely to remain in a sideways movement for the next few months. The altcoins have suffered large retracements but as Bitcoin stabilizes many are beginning fresh rallies and market participants are looking to lock in profits. 

Gnox (GNOX)

Gnox is the first protocol to offer yield farming as a service and has been hailed by crypto analysts as a new type of reflection token. The project is slated to release at the end of Q2 2022 and its pre-sale phase is currently underway.
First, the project has a custom-built treasury which is used on behalf of the investors, something not seen in a protocol before. Funded by buy and sell taxes the treasury fund is deployed in DeFi protocols to generate yields which are then converted to stablecoin and distributed to Gnox token holders. With prevailing bearish sentiment and the token generating passive income in stablecoin, analysts have highlighted this as one of the key reasons Gnox is drawing so much hype and attention. Another reason stated by analysts is the simplification of DeFi investment offered by Gnox, it allows average and institutional investors exposure to DeFi with a single point of contact.

Bitcoin (BTC) Holds its Ground

Bitcoin (BTC) currently trades at $31,000, the Fear and Greed Index is 16 (Extreme Fear), and Bitcoin is still well below the 200 day moving average- a simple indicator to tell if Bitcoin is in a bull or bear market. Following the dramatic slide from $40,000 down to below $27,000 which occurred from May 5th to May 12th, Bitcoin seems to have stabilised and held its ground. Bitcoin since then has traded in a range of $28,000 and $31,000 in what crypto experts call a consolidation phase and many analysts state that the current price of Bitcoin represents an amazing buying opportunity. As Bitcoin stabilises it gives altcoins a good chance to rally to make up ground lost after they retraced. One thing many analysts are paying attention to is the NASDAQ which is showing very slight signs of recovering after posting significant losses in May.

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