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Cardano And Solana Fall, Gnox (GNOX) Presale Grows Strength To Strength

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Cardano And Solana Fall, Gnox (GNOX) Presale Grows Strength To Strength

New projects are often extremely lucrative investments, Gnox is one of these projects.

Crypto investors in 2022 are no strangers to volatility in the market. In the same vein as 2021, albeit with currently slightly less growth, this year has been topsy-turvy at best. There have many opportunities to ‘buy the dip’.

Bitcoin, as ever, is the market leader. Its market cap is more than twice that of any other cryptocurrency and its market dominance is over 40% at the time of writing. The crypto market as a whole is down since the news of Terra Luna and UST.

Other major cryptocurrencies, specifically those inside the top 10 market cap rankings, have faced similar ups and downs. Worldwide events, like the cost of living crisis and Russia’s invasion of Ukraine, are having an effect on finance in general.

In an attempt to remain immune to market forces, many crypto backers are turning to pre-sales. New projects are often extremely lucrative investments, and until they are publicly released, they only increase in price. Gnox is one of these projects.

 

Cardano stumbles amid bear market (ADA)

Cardano is the eighth-ranked cryptocurrency and has a market cap of over $27 billion. It was founded by Ethereum co-creator Charles Hoskinson. Its transaction speed and low fees have seen it, at times, in among the top five cryptocurrencies. It exploded 1600% in 2021 to reach a new all-time high of $3.10.

2022, however, has not been as profitable. From the start of the year to the time of writing, ADA has dipped 40%. There have been rallies each month but so far ADA continues to trend downwards.

In positive news, Cardano whales have been continuing to pack their bags, and investors with 1-10 million, ADA tokens rose to $9.72 at the beginning of March. This indicates that major financiers are confident that ADA is one for the long term, if not the immediate future.

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Solana (SOL)

Another project that has been tipped for the long-term future is Solana. Similar to Cardano, SOL is down over the last week. A mere four months ago, Solana hit its peak of $260.

Since then, it has fallen by 68%. At the time of writing, SOL is valued at $83. Its weekly high was around $105, and it seems the bear market may push it down even further in the long term. However, In a volatile market, SOL has stood out.

For investors, of course, it is imperative to remain bullish and think of the bigger picture. Solana has been tipped by some to compete with Ethereum, especially with regards to NFTs, where currently it has much lower fees and often faster speeds than the ETH network.

 

Gnox presale thrives as Cardano and Solana falter

Gnox’s buzz has grown in recent weeks as several media outlets have been reporting on its exciting launch. Their planned projects have gained enormous attention from both mainstream outlets and on social media, topping off a great few days for Gnox and its developers since the announcement of its launch.

Gnox is the first DeFi earning protocol that provides investors with its new “Yield Farming As A Service.” It lowers entrance barriers by offering education, seamless investment tracking, and a single investment vehicle.

Gnox is a decentralized platform whose main goal is to connect the gap between the crypto and fiat worlds. It is known for providing an easy-to-use DeFi earning solution for those new to crypto.

“We believe in rewarding long-term holders by generating a passive income for them proportionate to what the treasury makes within the timeframe,” says their spokesperson.

The nature of paying rewards in $GNOX means that once they claim their rewards to pay their Gnox holders, there will always be buying pressure to support their underlying price.

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The project itself looks to have useful applications in the real world. For users, it will bridge the gap between the Binance Smart Chain (BSC), Polygon (MATIC) Network, and Ethereum (ETH) Network. This allows holders to navigate across blockchains in order to find the best speeds and lowest fees for their transactions.

 

Learn more about Gnox:

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

Instagram: https://www.instagram.com/gnox.io/

The post Cardano and Solana Fall, Gnox (GNOX) Presale Grows Strength to Strength appeared first on .

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Cardano [ADA]: Vasil’s date is set and investors should know that…

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Cardano [ADA]: Vasil’s date is set and investors should know that…

In the early hours of 14 May, Cardano founder Charles Hoskinson informed the community that the Vasil Hard Fork is on schedule. It would be implemented by 29 June, he said.

With the Vasil Hard Fork, significant updates will be deployed on the Cardano blockchain and its smart contract platform, Plutus. 

Speaking about the Vasil Hard Fork in its Mid-month Development Update, IOHK noted that it is preparing for a closed public testing phase for the Vasil Hard Fork network. It was further revealed that the testing will also be in collaboration with Dapps to test their applications on the network’s testnet and mainnet.

IOHK also stated that after this phase, access will then be given to exchanges to test all integrations necessary to run the Cardano blockchain. By the end of May 2022, it should be in a position to hard fork Cardano testing. 

In light of these announcements and upcoming updates, let’s see how ADA has been doing on the price charts.

Not too bad?

Valued at $0.53 at the time of press, ADA was up by just 1% in 24 hours. Comparatively, over the last 7 days, the crypto was down by 29%. As the cryptocurrency market begins to “heal,” thanks to the many upcoming Cardano updates, ADA’s recovery is expected to be fast-tracked. 

In fact, its market capitalization only declined by 0.05%. It further recorded a high of $18.20 billion following Hoskinson’s confirmation of 29 June as the date for Vasil. At the time of writing, the market capitalization stood at $18.03 billion – A mere 0.9% decline from a high of $18.20 billion in the last 24 hours. 

Okay, volume is down

It is noteworthy to point out that the confirmation of a date for the network’s update had no significant impact on the transaction volume. Recording a transaction volume of 1.19 billion on 14 May, this represented a 38% decline from the 1.94 billion recorded on 13 May.

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Source: Santiment

But wait, the whales are up

Despite no significant difference in market capitalization, data from Santiment underlined an increase in Whale Activity following the update.

As of 14 May, for transactions over $100k, a total of 238 transactions were completed – A 3% spike from the 230 transactions recorded on 13 May.

Similarly, for transactions over $1 million, a total of 238 transactions were completed – A 2% increase from the 232 recorded on 13 May.

Source: Santiment

One man’s loss might be another man’s gain 

ADA is currently ranked 7th by market cap on the charts, right below XRP. However, with the ongoing case against Ripple and its effect on the price of XRP, ADA might surpass XRP in the near future.

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Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.

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Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano?

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Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano?

Pseudonymous crypto trader and analyst Capo tweets that Cardano (ADA) is bound to go on a massive downward trend.

This popular crypto trader with over 307,500 followers on Twitter predicted a massive plunge before the coin finishes its five-waved downward trajectory following the Elliott Wave Theory.

The Elliott Wave Theory pertains to a technical analysis that can predict price action by looking into mind psychology or crowd behavior that can be seen in waves.

Based on the theory, the crypto asset would always go through a predictive five-wave cycle before it makes that pivot or reversal.

Suggested Reading | NFT Prices Take A Beating After Crypto Market Chaos

  

Before the coin completes its five-wave downward course, Capo anticipates a catastrophic crash (Coingape).

Capo Predictions On ADA, BTC, Terra, STEPN

According to Capo, ADA is on its way to completing the fourth wave which means it’s ready for that final wave.

Cardano is currently trading at $0.55 which is categorically 45% above the target price point of $0.30.

Cryptocurrencies recovered quite a bit on Friday but crashed today which appeared to be a roller-coaster ride of sorts.

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The erratic market moves have been worrisome for many crypto traders and investors alike. Bitcoin (BTC) has fallen by 3.6% and Cardano (ADA) went down by 6.65%.

Suggested Reading | LUNA Not Alone In Crimson: APE, AVAX, SOL, SHIB All Lose 20% In Crypto Crash

With the Federal Reserve pulling a tight rein on monetary policy, there isn’t a hint of a bullish trend. With the way things are going, many traders are looking for safer crypto assets compared to riskier ones.

Meanwhile, Capo is also keeping a steady eye on STEPN, a move-to-earn app built on the Solana blockchain. Capo says that he is looking at a significantly low trading value of $0.60. Looks like GMT is heading down the basement, as he describes. GMT is currently trading at $1.52.

ADA total market cap at $18.42 billion on the weekend chart | Source: TradingView.com

Bitcoin Still Better Than Cardano?

Outlook for Bitcoin looks good as it continues to correct after going over the key support locked in at $30,000. The $30,000 support supposedly jarred it. A two-day candle has closed right below it and currently tapping that zone as support. At this point, this spot is still not good for buying.

Adding salt to the wound is the miserable turnout in the market value of TerraUSD that is pegged to USD. It’s now priced at $0.18 this week. Meanwhile, TerraUSD is mapping out a recovery plan this week.

Overall, Cardano is more volatile compared to Bitcoin although it appeals greatly to the broader market, in general.

Bitcoin has more promise to be bullish for the long term compared to other coins, including ADA.

Featured image from Forkast News, chart from TradingView.com
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Cardano Lovers Should Check Out Bitgert

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Cardano Lovers Should Check Out Bitgert

Bitgert (BRISE) is one of the coins that Cardano investors need to check out.

Key Points:
  • Bitgert is the fastest-growing Bitgert ecosystem
  • Bitgert BRC20 is a gasless chain
  • Massive developments on the Bitgert project

Cardano might have posted massive growth in 2017 when the coin launched, but today, $ADA might not be the hottest crypto investment. The Cardano coin’s performance does not reflect a coin that will explode any time soon. In fact, crypto experts say that the Cardano growth might be saturated.

There are many crypto projects that are doing very well in the market and have the potential to explode this year. Bitgert (BRISE) is one of the coins that Cardano investors need to check out. In fact, Cardano investors stand to gain so much by joining Bitgert today. This is because Bitgert is one crypto project with the potential to explode 1000x this year.

There are a number of things that makes Bitgert the option for Cardano investors. One of them is the fast-growing ecosystem that Bitgert is developing. In fact, Bitgert has been one of the projects with the fastest delivery in the industry. This is evident from the fast development of the Bitgert roadmap. The Bitgert roadmap V1, which had game-changing products like the gasless BRC20 blockchain, was delivered within 6 months of the Bitgert launch.

The adoption of the revolutionary BRC20 blockchain is another thing that makes Bitgert a good option for Cardano investors. Bitgert blockchain has surpassed the key elements that make Cardano project popular. The Bitgert chain is faster than Cardano chain at 100k TPS. However, it is the zero gas fee that makes Bitgert BRC20 very attractive to Cardano and other crypto investors.

Therefore, the Bitgert chain is experiencing faster adoption than the Cardano chain. The upcoming developments are also making Bitgert an ideal crypto investment for Cardano lovers. The Bitgert team has launched the roadmap V2, which has exciting projects coming up. From the roadmap V2, there is a range of DeFi, Web3, and NFT products that the Bitgert team is building.

In addition to the new roadmap, there are hundreds of Bitgert backed projects joining this ecosystem. This is another factor that will grow Bitgert price. The recently announced Centcex development partnership makes Bitgert a very attractive crypto investment.

The bottom line is that Cardano lovers have a good investment opportunity in Bitgert. This is a crypto project with the potential to skyrocket 1000x, making it the ideal crypto investment in the market today.

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