Gnox (GNOX) Token Doing Well Despite Bear Recession, Lido Staked ETH (stETH), BitTorrent (BTT) Trying to Recover

Guest Author

Gnox Finance’s GNOX pre-sale attracts new generation of investors

Contents

New crypto investors are getting their first taste of the famous crypto bear market. It is a brutal time for novice and seasoned investors. Bitcoin is down more than 70% from its November peak, and many altcoins have seen even more significant retracements, with some losing more than 85% of their value in the last few months. Anyone who invested during the current cycle is likely looking at big losses in their portfolio and will learn the hard way that the only way to profit in crypto is to take a long-term investment horizon. However, with the constant growth of the sphere, there are always projects that will defy market trends, and this article features one such crypto that can help bring some green to depressed portfolios.

Gnox (GNOX)

Gnox is setting a pace that not many projects can match, this project is defying the current market sentiment, and a deeper dive into the protocol shows that this upwards trajectory is only just beginning. Gnox will disrupt DeFi (decentralised finance) earning and is the first protocol on the market to offer yield farming as a service.

Gnox, through its treasury, generates yield for its investors and has created a new earning strategy with the only requirement being to hold GNOX. The complicated and time-consuming process of finding sustainable and profitable DeFi yields has been turned into a single investment vehicle. Gnox is built as an easy-to-use solution to DeFi earning for investors new to crypto, bringing meaningful DeFi interaction to a greater audience.

GNOX
Image by Freepic

Lido Staked Eth (stETH)

As the Ethereum merger grows closer more and more ETH holders are staking their ETH on the beacon chain to contribute to the decentralisation and security of the network. Lido is a liquid staking solution that investors can utilise, depositing ETH for a 1:1 ratio of stETH. By using Lido, they can continue using their assets to generate yield instead of having them locked. Investors with stETH are gaining rewards for staking and gaining further yield in DeFi using their stETH.

stETH is supposed to be valued at the same as ETH however, there is a widening discount with stETH now trading at $1,116 and ETH trading at $1,149. Some traders see this as an arbitrage opportunity, but once stETH is minted, it cannot be redeemed until after the merge, and thus the market has applied a discount.

BitTorrent (BTT)

BTT is another token struggling in the current market conditions. Despite being an overwhelmingly popular software facilitating file sharing through a peer-to-peer network, BitTorrent has struggled to monetise. BTT was introduced to help grow the network and introduce incentives for users. BTT is being used as a reward for those who share files on their systems and purchased or spent by users who want faster download times or access to files.

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