Remember DeFi Summer? It seems like such a distant memory. Early adopters of dozens of DeFi tokens saw life-changing wealth as many crypto assets returned gains in the thousands of percent.
Yes, they were all obviously overbought when they peaked. However, the pendulum always swings back in the other direction, and just about everything in the crypto market is oversold at this point in time. When there are not many more people left to sell, the price has nowhere to go but up.
As the crypto market starts to swing back toward bullish over the next few months, this is a great time to DYOR on some promising cryptocurrencies. Here are three ideas that are gathering bullish sentiment as the tables turn.
Gnox has one advantage over the two assets listed below. That is, the platform hasn’t launched yet. It officially launches in mid-August. Launching at the end of a bear market gives GNOX token the benefit of not having just plummeted 90% and therefore having no psychological resistance levels on the way up as the bulls begin a new stampede.
So what is Gnox? The Gnox platform offers crypto investors a super-simple way to invest in a diversified basket of cryptocurrencies while also producing passive income. Gnox calls it “yield farming as a service.”
Is anyone bullish on GNOX? The fact that the previous presale round has sold out, suggests there is quite a bit of excitement around this DeFi protocol. It could well be the first DeFi platform to see mass adoption.
You, too, can get in on the last round of the presale at the Gnox.io website. As soon as the final round closes, any unsold tokens will be burned after which the token will be eternally deflationary while providing constant passive income.
NEAR Protocol (NEAR)
NEAR Protocol seeks to provide faster, cheaper transaction processing. NEAR is a layer-1 blockchain that’s on a mission is to be the foundation for a permissionless, decentralized ‘open web.’ NEAR is currently one of the top 25 cryptocurrencies with a market cap of more than $3.7 billion and a total value locked (TVL) of more than $343 million.
Some of the most popular Web3 applications are built on NEAR including Ref Finance, Burrow, Meta Pool, and Sweatcoin with more than 10 million users globally. Developers on the network have raised about $500 million from investors in recent months. The price of NEAR pumped 32% in the past week signaling that the asset was well into oversold territory.
On the ETH vs. BTC charts, ETH has been kicking BTCs bit lately. In the past week, as BTC rallied, ETH outperformed by a whopping 25%. There’s a lot of buzz around ETH with the full network merge upcoming, after which the network will be fully rid of proof-of-work and running solely on a proof-of-stake consensus mechanism.
Meanwhile, there are several layer-2 platforms that are also growing exponentially that feed business into Ethereum such as Polygon (MATIC) which recently announced the launch of its zkEVM network which is fully Ethereum Virtual Machine compatible. If you’re a long-term believer in Ethereum, now is the time to ape into this prime crypto asset which is expected to produce 10X to 100X returns over the next decade.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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