The crypto market has been hit hard in the past few weeks and continues to struggle amid fears of uncertainty. It can be tough to stay optimistic during this crash, but significant market downturns are often the best times to trade your positions.
Sell your losers and ride the winners – That’s the trick to cutting your losses without trimming down the strength of your portfolio.
But does that mean you should trade something as big as Ethereum (ETH) for promising projects like Cardano (ADA) and Gnox (GNOX). Let us get the facts straight before jumping to conclusions.
Limitations in scalability, slowness in block confirmations, and high transaction costs are some significant drawbacks of the biggest blockchain ecosystem in the world. This paved the way for the Ethereum co-founder to create a scalable blockchain with a Proof-of-stake consensus. Cardano was launched in 2017 to fix the flaws of Ethereum with a mechanism that replaces miners with validators.
The exponential rise of its native asset ADA in 2021 was a testament to the rising popularity of PoS. Cardano leads the L1 market, with as much as 70% of the supply staked to secure the network and make it further decentralized. It got close to flipping Ethereum before we entered the correction phase. However, at the current prices, there’s still plenty of room for ADA to grow, compared to ETH.
In case you are looking to allocate some funds to a low-cap gem, take a look at GNOX. An upcoming DeFi earning protocol that offers “Yield farming as a service” as a service to investors. This fast and scalable protocol is backed by a treasury that is deployed in liquidity pools to earn rewards on behalf of the community. This is in addition to a 1% fee credit to GNOX token holders for every transaction.
The multichain expansion will open the gate to leveraging assets across multiple blockchains, and the yield aggregator tool will help track investments. Compared to DeFi apps on Ethereum, Gnox is faster and cheaper, which makes it a platform of choice for new investors. Anyone can become a DeFi expert with this new standard in tokenomics. The token is currently in the presale phase, and it makes sense to flip some of your ETH to GNOX.
Join presale: https://presale.gnox.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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