Markets are rocking and crypto is among those hardest hit by the growing risk-free environment. Total market capitalization fell from $3 trillion to just under $1 trillion in November. This decline is expected to last for months, with inflation set to a four-year high of 9.1 percent in June, under pressure from the latest CPI (Consumer Price Index) report, meaning the Fed will have no choice but to continue raising interest rates. . However, despite the bear market, many crypto projects are thriving and this article takes a close look at three cryptocurrencies that will help save any portfolio.
Gnox (GNOX)
Gnox is first on the list. In Q3 BSC (Binance Smart Chain) token’s protocol prioritizes providing passive income to its investors. Gnox targets DeFi gains and makes them accessible to everyone. Complications in generating yields in the DeFi ecosystem prevent many crypto owners from participating in any meaningful way. Here, Gnox comes to the fore.
The Gnox protocol has a treasury fund used in tried and tested DeFi protocols to earn on behalf of token holders. The protocol distributes a fixed sum of money proportional to the number of GNOXs held each month. Currently in its third pre-sale phase, GNOX and its passive income stream could be a great choice to hold during the bear market. It allows crypto traders to keep earning despite market conditions.
BitDAO (BIT)
BIT is BitDAO’s governance token that allows users to vote on proposals and guide the future direction of the DAO. A DAO represents a new organizational structure in which like-minded people can join and work towards a larger goal. BitDAO is an investment DAO and owner of the world’s largest DAO treasury fund. It manages close to $2.5 billion in assets and its main goal is to support the growth of decentralized and transparent finance. BitDAO will be an important guiding force in the years to come as crypto and blockchain technology become more and more mainstream.
DeFiChain (DFI)
DeFiChain is a layer protocol that takes the best elements from the two biggest giants in crypto. It joins the Bitcoin network making it extremely secure and has smart contract capability like Ethereum, the main difference being that it is much more scalable. DeFiChain is the first project to leverage the security of the Bitcoin network while implementing DeFi’s financial services, allowing users to lend, borrow, tokenize assets and access exchanges.
final thoughts
A bear market is a natural aspect of market cycles and performs a useful function. Keeping up with the market hype destroys weaker projects that survive. A bear market equalizes the playing fields and only allows the survival of protocols that add value to the field. All three protocols in this article add tangible value to the field, which is why they were chosen as great hedges against a bear market.
For more:
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
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