Bitcoin is on an uptrend and is firmly above its 21-day moving average; Bitcoin has been using this line as support. With no further rate hikes until September and news that BlackRock, the world’s largest asset manager, is officially entering the crypto space, Bitcoin is flashing bullish signs that it will continue its upward trajectory. Bitcoin drives the entire market, and when it climbs 5%, altcoins can climb as high as 20%.
A new relatively small cryptocurrency project is making the most of bullish market sentiment, reflecting the launch of the token Gnox (GNOX) this week, developers have announced to the protocol’s vaults Add $50,000. Gnox entered the price discovery phase with bullish sentiment after the ICO sold out phase and now all holders will receive passive income immediately after the token launch.
Gnox is likely to be one of the most exciting launches of 2022, surpassing the gains of Aave (AAVE) and ApeCoin (APE).
Loading $50,000 into the treasury means that at launch, passive income has already begun and every GNOX holder will receive their first stablecoin payment within 30 days. Gnox is coming out the door. As the treasury is growth-oriented, long-term holders can expect to receive a larger and larger reflection of the stablecoin each month.
Aave is a DeFi giant in decentralized lending played an integral role in proliferation. DeFi lending has become one of the most capitalized segments of DeFi, with Aave’s smart contracts currently containing over $7.3 billion. The platform’s TVL (Total Value Locked) snowballed, rising 20% this week, as more and more investors locked assets on the platform to generate income or gain greater market exposure.
An increase in TVL in DeFi implies bullish investor sentiment. Investors only lock in their assets when they think they will appreciate in value, rather than having them on hand for a quick sale. AAVE is the governance token and it has been performing well whenever Aave attracts more liquidity.
Ape Coin (APE)
ApeCoin is the governance and utility token for the entire Ape ecosystem. Yuga Labs launched the token to allow community ownership and governance of the APE community. Yuga Labs, creator of the popular Boring Ape Yacht Club, has been pushing the boundaries of blockchain technology and the creation of Web3. APE is the medium of exchange in this pioneering ecosystem.
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