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Bitcoin has broken out of its trading band (USD 19,000- USD 23,000) and through the resistance of the 50-day moving average on the daily chart. The United Kingdom continues in its efforts to establish a regulatory framework for cryptocurrency, and Jerome Powell stated that the most recent rate hike would be the last significant increase.
Crypto markets have rallied at this news, and the next target for Bitcoin is USD 26,000; if Bitcoin can get above this, a long macro trend will establish, and altcoin season will begin. The news is welcome for a new addition to the BSC (Binance Smart Chain) ecosystem, and Gnox is expected to make a considerable rally when it launches; other DeFi (decentralised finance) tokens like Uniswap (UNI) are displaying bullish indicators, and the privacy-focused cryptocurrency Monero (XMR) is experiencing bullish trading.
Gnox has entered the final leg of its presale and will launch in less than a month. This protocol seeks to revolutionise DeFi investment making it more accessible and sustainable for the average crypto investor. The developers at Gnox have pioneered a new strategy to make DeFi earning easy. Leveraging buy and sell taxes to build a protocol treasury fund. This capital amount is then used to earn for investors. This new strategy has been appropriately dubbed Hold To Earn, with GNOX holders receiving a monthly stable coin payout and an hourly distribution of GNOX.
Gnox is bringing a low-touch solution to earning within DeFi. The GNOX token is a single investment vehicle that provides investors exposure to DeFi and the yields found within the sphere. Launching in bullish market conditions with no psychological levels of resistance Gnox’s price discovery round is expected to be dramatic.
A decentralised exchange launched in 2018 and transformed the methodology of how DEXs (decentralised exchanges) operated. Uniswap introduced the automated market maker system leading to greater swap efficiency for traders and an income earning possibility for investors via providing LP (liquidity provider) tokens. Uniswap boomed during the DeFi Summer of 2020 and established itself as a central figure in the DeFi landscape.
UNI, the governance token, enables users to vote on proposals. It currently trades at USD 9.20 and was up more than 30% last week. The momentum is clearly behind this project as hordes of traders jump back into the space, and an uptick in trading volume means further growth for UNI.
Monero has a long history in the digital asset space. Launched in 2014, it is a privacy-focused cryptocurrency that allows participants to make anonymous transactions. It employs cryptography to conceal recipients and senders and allows payments to be made without fear of reprisal.
The desire for Monero is swelling. Bitcoin’s pseudo-anonymous nature left most people with an inflated sense of security, but with the growth of CEXs (centralised exchanges) and the mandated KYC (Know Your Customer) procedure, it is easy to track wallets and transactions back to an individual. XMR trades at USD 165 and broke through key resistance at USD 155. The next level for XMR to target is USD 200, and the bulls are firmly in control.
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Join Presale: https://presale.gnox.io/register