BNB whales are one of the most powerful and wealthy groups of BNB holders, and they play a major role in influencing the price. Recently, the attention of BNB whales has been drawn to Gnox (GNOX), an emerging project with great potential. Why do whales invest in BNB and what gives them the confidence to add GNOX to their portfolio?
Binance Coin (BNB)
The increase in the price of Binance Coin (BNB) is driven by several factors, including increasing demand from institutional investors and increasing awareness of the coin among retail investors.
Binance Coin (BNB) is the native currency of the Binance Chain, a public blockchain developed by Binance and its community. Binance Chain is a powerful decentralized exchange (DEX) platform that enables the trading of digital assets.
BNB was created for use on the Binance platform and can be used to pay fees including transaction fees, withdrawal fees, and listing fees. Binance Coin (BNB) serves as a utility token in the Binance ecosystem and can also be used to purchase other cryptocurrencies listed on Binance.
Binance Coin was initially issued on the Ethereum blockchain as an ERC-20 token, however, it was later migrated to the Binance Chain and launched as a native currency. The total supply of BNB is 200 million, minted through a process called on-chain burning. As the native currency of Binance Chain, BNB plays an important role in the ecosystem.
BNB Whale – the biggest market player
BNB Whale is one of the largest market players in the current market and exerts a significant influence on market trends.
The number of Binance Coin whales holding 100,000 or more BNB has increased by 84.6% in the past few months. So it is clear why the decision of BNB Whale is worth considering.
According to data from WhaleStats, GNOX has been on the list of coins being followed by BNB whales.
BNB whales have always pinned their hopes on DOGE. Whales hold 28.82% in the meme cryptocurrency. While DOGE has a lot of potential, it is a relatively old project, and whales are getting a lot of exposure to the recently released GNOX in hopes of a price increase.
Gnox is a revolutionary reflection token that provides yield farming as a service and works on top of BSC (Binance Smart Chain). Gnox aims to provide a simple DeFi platform for investors to easily generate passive income for Gnox holders.
Gnox charges a 10% royalty fee on each sale of GNOX tokens for the reward mechanism to work. A major part of taxation funds the treasury and ensures its growth, and a part of it goes to investors in the form of incentives. The primary goal of the Gnox Protocol is to help new investors engage with DeFi and generate passive returns with ease. For each GNOX payment, 1% of the total value is divided between hourly Gnox holders.
The new GNOX project is in a pre-sale phase, with a final release scheduled for mid-August. As the bear market continued, the price of this innovative project increased by 63%. The impressive performance gave BNB whales the confidence to add GNOX to their portfolio.
BNB whales have a huge impact on overall market trends and prices. After the listing date, the Gnox is expected to reach a 100x price increase by the end of August. BNB whales are paying attention to the token’s current performance and see the current situation as an excellent buying opportunity.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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