Top DeFi coins to watch out for in 2022, ThorChain (RUNE) and Gnox Token (GNOX) – CryptoMode

The DeFi platforms have been on a roller coaster ride so far in 2022. However, multiple DeFi platforms’ token prices have fallen to previous support levels, potentially signaling a bottom and imminent trend reversal.

Two DeFi tokens to watch out for in the second half of 2022 are THORChain (RUNE) and Gnox (GNOX).

THOR Chain (RUNE)

This decentralized exchange works similar to Uniswap. The platform allows users to exchange tokens between blockchains. All transaction fees are paid in the RUNE token. Access to its native and cross-chain liquidity is open to all through its Python SDK.

According to their website, the more RUNE holders provide liquidity, the more accurate and deterministic RUNE becomes. If more than 80% of the circulating RUNE tokens are included in THORChain liquidity pools, the market capitalization of RUNE should be at least 3 times the value of all non-RUNE assets included in THORChain liquidity pools. Currently 73% of RUNE is locked into THORChain liquidity pools.

THORChain (RUNE) has been on a rollercoaster ride since its launch in 2019. Before the end of the year, the price was up 700%. At the beginning of 2021, RUNE was priced at $1.20 and its market cap had grown from $10 million to $205 million.

Then RUNE hit an all-time high of $21.20 mid-year with a market cap of $4.89 billion. However, within five days of hitting this high, the broader crypto market collapsed and RUNE fell to $3.30 with a market cap of $1.89. By the fall, investors had pushed the price up to $16.

The important point to note here is that RUNE has recently slipped back into the $3 area, where it has found support several times in the past – twice in 2021 and twice again in 2022. This could indicate that that the token has bottomed and is due for a hefty price rebound.

Gnox (GNOX)

GNOX token is the new kid on the DeFi block. The project has fresh ideas that make yield farming quick and easy. Its mission is to level the playing field for new investors and those who lack the time to research various opportunities. Every investor on the platform deserves the same rewards relative to their GNOX holdings.

The way it works is that Gnox’s team of DeFi experts do all the research. The assets are kept in a treasury. The funds are then used to generate a consistent, passive, monthly income. Increases in equity will be attributed to anyone holding the GNOX token.

In addition, every 60 minutes all holders are directly credited with an additional 1% of each network transaction. This is independent of the token’s price action.

The interesting thing about GNOX is that the platform hasn’t even launched yet and the token is already seeing brisk sales. A GNOX token pre-sale began on May 12 and the team is scheduled to launch in Q3 2022.

GNOX is definitely one of the best DeFi platforms to watch out for in 2022.

Learn more about Gnox:

Participate in the pre-sale: 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/

Always conduct proper research when dealing with currency and token presales. The above information does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the site or its employees.

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