Gnox (GNOX) holders savor 52% climb, Bitcoin (BTC) primes for positive reversal

Watching your portfolio flashing more red than green is a horrible sight. That has been the story of crypto investors holding their bags in anticipation of a possible reversal.

Geopolitical tensions coupled with interest rate hikes have kept the global markets silent for a while. Bitcoin is currently trading in a tight range, holding up an important support level of $29500. Technical analysis indicators are pointing towards a positive breakout before further correction.

At these price levels, the market sentiment is extremely fearful and negative. However, the on-chain data by Santiment shows that whales are accumulating Bitcoin in a range that has previously proven to be a reversal point.

The price has been consolidating for a while now, and the next resistance is at $32000, followed by $34000 and $37000. Currently, long-term holders are making their way into the capitulation phase, which also means that smart money is entering the system.

In other news, an upcoming DeFi protocol, Gnox has already made investors a 52% gain overnight. The token is still in its presale phase and yet to face the full force of crypto volatility. Nevertheless, the team, community, and the vision behind the project have contributed to the ongoing success of what promises to be a gamechanger.

Gnox is a one-of-a-kind platform that focuses on providing value to the community by generating consistent passive income for the users. It has created a treasury backed by DeFi experts, who analyze various strategies to earn rewards through yield farming. Users simply have to buy and hold the native token, GNOX, to get a portion of these rewards, without them having to follow any additional steps. Additionally, for every transaction on the network, long-term holders will get a 1% tax credit to eligible wallets.

There will be a subsequent increase in digital investments as the treasury grows in size. This will not be limited to stable coin farming and LP tokens but also high-appreciating items like NFTs. The buy/sell tax implementation ensures that there will always be sufficient funds for development, marketing, and investments. All these factors combined will come back as an incentive for the community, and that’s what the Gnoxian ecosystem is all about.

The team has announced that the next development phase is underway, as Gnox is building a multichain DeFi aggregator tool, which will be a one-stop destination for yield farmers to track and assess their digital assets.

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