PancakeSwap (CAKE) is Losing Holders to Gnox (GNOX) – Here’s why

PancakeSwapMany new coins are drawing a large number of crypto investors, including PancakeSwap’s investors

PancakeSwap’s overall performance has declined dramatically in recent months. This project has been falling in coin price, trend performance, and holder count. However, this is at a time when Gnox is gaining a huge number of holders.

 

What happened with PancakeSwap (CAKE)?

PancakeSwap has been rocked by volatility, with the most recent shock wave bringing it to a year low of $3.34 in May.

This latest drop occurred when The PancakeSwap announced the inclusion of Fixed Term Staking to Flexible Staking.

The coin’s value had risen by 89 percent to $10.16 in the second half of March, following a price spike. The price dropped to $7.6 by mid-April before this most recent increase and decline.

Once regarded as the best-performing DEX of 2021, its performance began to decline in August, and its value continued to decline throughout 2022 until this March rally.

Since its inception, PancakeSwap has rapidly attracted users since it allows traders to instantly swap tokens without enrolling for accounts and charges low transaction costs. Because the cryptocurrency is not housed on an exchange, users can trade directly from their cryptocurrency wallet.

 

New entry Gnox (GNOX) is gaining popularity

Gnox is a new cryptocurrency with the potential for tremendous growth in 2022. This project has recently begun its presale, and with a July launch date, it provides the best option for holders to get in early, before the initial coin offering surge.

Gnox is the first DeFi earning protocol that provides private and institutional investors with “Yield Farming As A Service.” To support their steady growth, they strive to make DeFi earning as simple and smooth as possible.

Innovating in the DeFi arena, Gnox is the world’s first reflection project to use its treasury to invest in DeFi yield-generating protocols for its users.

The majority of Gnox’s stable coins, DeFi LP tokens, and NFTs will be housed in its treasury, which is a multi-signature protected vault.

Gnox will utilize an appropriate percentage of its treasury assets to acquire and trade diverse digital assets for profit by leveraging the expertise of its strategists.

Their strategies have been tried, tested, and used by many DeFi experts.

 

PancakeSwap (CAKE) losing holders to Gnox (GNOX)

According to crypto analysts, PancakeSwap’s woes may have been worsened by the intense competition it faces from other cryptocurrencies.

Many new coins are drawing a large number of crypto investors, including PancakeSwap’s investors, which is why the trend has been declining. Gnox is one of these digital currencies.

Gnox could be one of the coins responsible for the underperforming PancakeSwap, as well as many other projects.

The Gnox team has introduced a new feature and offering in the industry. This concept of creating and utilizing a “treasury” is undoubtedly unique in the cryptocurrency industry and has the potential to be popular among creative and influencer groups.

As a result, Gnox has received a lot of attention, and the enthusiasm surrounding the coin is developing rapidly. The project team also delivered their roadmap on time and created a project with high utility.

Learn more about Gnox:

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

Instagram: https://www.instagram.com/gnox.io/

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