The GNOX presale is now in the second phase. During this phase, the project has recorded a 63% growth in sales, prompting many people to believe it could be an ideal investment.
GNOX enters a presale phase 2
The GNOX project has received much support from the memecoin communities. Dogecoin (DOGE) and Shiba Inu (SHIB) communities, which are known for being active in crypto social spaces, have been at the forefront of promoting the token, which has led to its presale trending across the market.
The current support of the GNOX presale from some of the leading players in the crypto industry means that this project could be something that investors should watch out for.
The GNOX token sale commenced on May 12 and has already recorded a 63% increase in sales. The team behind the GNOX token announced that it had made a sale of 49.5 million tokens during the first presale. This raised the price of the token by over 60%.
By the end of the first presale, around 1.3 billion tokens were burned, triggering a price gain. The other token-burning process is expected to happen after the end of the second presale, and the early investors could witness high returns.
About the GNOX ecosystem
Gnox is the first reflection token focused on DeFi yield farming. The objective behind the platform is to create a means for investors to generate passive income in the DeFi sector. Yield farming is one of the most popular investment options in the crypto space.
Some of the benefits of yield farming include generating passive cash flow from crypto assets without selling them. Traders can invest in the liquidity pool, where they will receive higher returns the longer they hold on to their tokens.
Yield farming also helps to increase the value of the staked tokens, where the earned rewards can be reinvested within the GNOX protocol. This means that the GNOX protocol will continue giving rewards to holders of the GNOX token despite the market trends.
While there is no sure way of saying that the GNOX token will witness gains in the future, factors could propel its gains. These include increased interest from retail and institutional investors. GNOX also benefits from the growing support from those who believe in its long-term success. This can aid in price recovery.
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