The combined market cap of all cryptocurrencies fell from a four-month high of $2.2 trillion on April 5 to $1.7 trillion in early May. That means a drop of just over 20 percent.
Since then, the price of cryptocurrencies has been in a bear market. Compared to this already low level, the market continued to drop further, dropping another 23 percent through May 12 and largely unchanged since then.
Despite this, there are some DeFi projects that are performing well in the bear market. Gnox, Dogecoin, and Avalanche are ranked as the top DeFi projects to rank among the top cryptocurrencies.
Gnox (GNOX)
Gnox is one of the few cryptocurrencies to have made significant gains in the crypto world in recent weeks, and it has an extremely bullish outlook. It rose more than 63 percent in just one month. It continues to attract crypto investors with its strong business model and use cases.
Gnox is also an extremely important project that could mean a lot to the DeFi investment space, so it doesn’t just have short-term price potential. Its unique and simplified platform makes it easy for regular traders to enjoy real passive income returns. And this set of features could be critical in driving digital finance into the mainstream.
Dogecoin (DOGE)
The price of Dogecoin has not actually fluctuated as much as the others. It remained relatively stable last week and hovered around the $0.06 level. Even a low liquidity weekend could not change this trend.
As a result, the meme cryptocurrency has been one of the best performers during the last bear trend.
Avalanche (AVAX)
Avalanche was introduced a few years ago. We can define it as a platform that provides hosting services to blockchain developers and deals with the launch of DeFi. Mostly compatible with Ethereum, Avalanche excels at fast transaction times.
There is high demand for Avalanche as it is part of multiple ecosystems. Currently trading at $24.24, there is nothing stopping Avalanche from gradually increasing until 2025.
For more information about Gnox:
Join Presale:
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io
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