The last few weeks have been among the most chaotic in crypto’s history.
The price of ether has plummeted to levels not seen before 2021, as the broader cryptocurrency and financial markets have entered the bear market territory.
Meanwhile, Gnox’s price increased by 52% during its first-round presale after passing a thorough background check and getting a Soken KYC badge on May 21, 2022.
Let us examine the impact of a bear market on Ethereum and Gnox.
Ethereum (ETH) will continue to develop
It is not all doom and gloom in the crypto world. As markets tumble and reputations suffer, the Ethereum community continues to work hard to prepare for the Merge, the long-awaited move to a proof-of-stake (PoS) network.
Following speculation that the network upgrade might be delayed beyond the summer, Ethereum co-founder Vitalik Buterin claimed last week at a Shanghai event that the Merge could be available in August.
Crypto experts believe that the Merge is probably coming. Even if it does not prove to be a huge boon for the Ether price, if the developers are to be believed, it will have a lasting impact on the future of the network.
Gnox (GNOX) is projected to rise
Despite the bear market, Gnox continues to draw the inspiration of some investors and the ire of others. It has lately gained traction in the cryptocurrency market, and it is one of the top cryptocurrencies that has thrived throughout the bear market breakout.
The price of Gnox jumped by 52% during its first-round presale on May 21, 2022. It is one of the few that has seen its price rise, which crypto experts say supports the team’s ability to build in a negative market.
Gnox represents the first of its type, a reflection token that offers yield farming as a service.
Gnox seeks to make DeFi investment easier for all investors by allowing anybody who owns its token to participate in the yield-generating opportunities offered by DeFi.
The Gnox protocol has a treasury developed specifically for token holders, which is funded through the tokenomics of a buy and sell tax.
The treasury is then deployed inside the DeFi space, and the returns generated are reflected in stablecoins to all token holders. Investors who have signed up for the pre-sale are waiting to see if the protocol will be able to withstand the present bear market.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register