Cardano
Gnox (GNOX), Cardano (ADA), And Shiba Inu (SHIB)
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Global economic uncertainty remains, but many crypto analysts have called the bottom and believe a market reversal is imminent, pointing to classic reversal metrics. One is Bitcoin’s Fear and Greed Index, which bottomed out, recording its lowest score since the COVID-19 flash crash and, before that, the 2018 bear market. A fresh rally typically begins in the following weeks after this indicator hits a new low. Another indicator is the RSI (Relative Strength Index) which shows bullish divergence with Bitcoin putting in lower lows whilst the oscillator continues to climb, signalling a rally may soon arrive.
Investors are excited as it could be the last opportunity to accumulate crypto at bargain prices. This article features three top crypto picks for July.
Gnox (GNOX)
Gnox is a new player set to arrive on the Binance Smart Chain (BSC) later this year with a pioneering Hold to Earn strategy. Gnox is a protocol designed to integrate more investors into DeFi investment, and it does this by simplifying the process. The protocol has taken the arduous and time-intensive operation of DeFi earning and transformed it into a single investment vehicle.
Gnox uses its treasury, funded by buy and sell taxes, to generate yields for GNOX holders. Every 30 days, stablecoin reflections are paid out to investors, and every 60 minutes, GNOX holders receive an allocation of GNOX tokens. This low-touch protocol is designed for the ordinary crypto investor looking to generate passive income. With its simplicity of Hold to Earn, crypto analysts speculate that this crypto will rally in value as it begins to pay out stablecoin reflections.
Cardano (ADA)
The Cardano network continues to evolve and grow rapidly. Developers have begun the countdown to the launch of the Vasil hard fork, which will mark the most significant upgrade to the network since the Alonzo hard fork which introduced smart contract capability to the network. With more than 70% of the total supply staked, and more than 3 million unique wallet addresses on the network, ADA looks ready to explode in price.
Currently trading at USD 0.46, when the Vasil hard fork goes live, ADA could rally to USD 1.20, where it will meet strong resistance. But if bulls can break the resistance, there is no telling how high ADA can climb.
Shiba Inu (SHIB)
The notorious ‘DOGE Killer’ SHIB. This meme token took the world by storm in late 2021 with one of the most obscene rallies ever witnessed. The SHIB project has recently hit an enormous token burn milestone, more than 400 trillion tokens have been burnt to date, and more are burnt every single day.
With this huge decrease in total supply, SHIB’s price is poised to rally, and investors are curious about how high this token will go. Currently, trading at USD 0.00000971, SHIB holders wait for the token to tackle the legendary USD 0.01 price target.
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
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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