One breaking news story could instantly turn around the entire market and quickly erase what has been a dismal year.
If this happens, here are three cryptocurrencies that could easily moon overnight.
Gnox is a newcomer on the DeFi scene. Although the platform doesn’t officially launch until Q3, presale of the GNOX token has taken off. Priced at just a few pennies, it wouldn’t take much for this token to go 5X. But is there a chance that it could pull a 10X overnight? Yes, and here’s why.
According to the company, the Gnox platform “was developed to make DeFi earning simple and frictionless for entry-level investors.” Gnox offers what they call “yield farming as a service.” They save crypto investors from having to do their own homework by hiring a team of crack DeFi specialists who work to maximize returns and minimize risks for their holders.
Funds from the Gnox treasury will be invested into staking, liquidity pools, lending platforms and even asset-backed NFTs. All investors have to do is buy and hold the token to share equally in the spoils.
This means everyone can enjoy the fruits of crypto investing without having to do any research. If that’s not a unique selling proposition, we don’t know what is.
Cronos (CRO) is the native token of the Crypto.com ecosystem. Compared to exchanges such as Binance and Coinbase, the Crypto.com app is a bit rudimentary. However, it looks like Cronos is gearing up for some major renovations.
The app recently added a Target Price feature that lets users buy and sell crypto at a preferred price — similar to a limit or stop order. Crypto.com also added an NFT marketplace that lets users buy, sell, and mint NFTs. They also spend a ton on branding.
As did the overall crypto market, CRO saw a steady drop in market cap over the first half of 2022 (falling from the top ten all the way to 20th position). The token is currently selling for just under $0.20. However, if it returns to it most recent high that’s a more than 150% gain. And if it matches its all-time high of around $1.00 it would produce almost 5X return. Could CRO go 10x?
Well, it might not happen overnight. However, it’s possible that their branding efforts, NFT marketplace, and advanced trading capabilities will propel an exponential growth in users.
Polkadot’s DOT token currently holds the number 11 position in market cap. Like Cronos, Polkadot has also had a rough year so far falling more than 80% off most last year’s highs. As with CRO, if DOT were to print a new high investors would see a 5X return on investment. But what could propel DOT to produce 10X returns overnight?
On May 4, Polkadot unveiled parachain-to-parachain messaging through the XCM “cross-consensus messaging” format. Even more striking, however, is that the upgrade makes the Polkadot parachain network the world’s first fully interoperable, multi-chain ecosystem. Now assets can be safely, securely, and quickly ported from parachain to parachain.
This is a project that’s not going away. When the broader market turns back up and to the right, Polkadot should fair very well. It just might post a 10X gain.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register