Two cryptos in focus right now: Gnox (GNOX) & Jupiter (JUP) - Kalkine Media

July 25, 2022 11:03 AM AEST | By Ankit Sethi
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Highlights

  • GNOX is a yet-to-launch cryptocurrency, and enthusiasts must exercise caution during the ongoing presale phases
  • The latest news on the Jupiter crypto talks about the JUP APES NFT collection, which is due to release on the ARC marketplace
  • Separately, both Bitcoin and Ether are extending their gains, with the latter’s 7-day gains at 20% right now

The price volatility being manifested by cryptoassets like Bitcoin and Shiba Inu is not deterring new launches. Even the non-fungible token (NFT) space is regularly buzzing with new launches.

As of writing, two cryptoassets are generating a lot of interest. The first is a yet-to-launch cryptocurrency by the name of GNOX, and the other is Jupiter (JUP). Let us quickly explore the reasons why GNOX and JUP are in the news.

What is GNOX crypto?

The Gnox project falls under the decentralised finance (DeFi) category of the crypto world. It is calling enthusiasts to use its services and “earn passive income”. The income, according to Gnox, would arise from buying and holding of cryptos. For now, the GNOX token of the project is in its presale phase.

Enthusiasts are being invited to purchase the GNOX token in its upcoming Phase 3 presale using Bitcoin or other cryptos. Gnox claims almost the same things that other DeFi projects do, including providing liquidity and enabling the lending and borrowing of assets.

Is GNOX crypto safe?

Nothing is certain right now. In GNOX Phase 2 presale, it was reported that the project could attract new investors. The initial coin offering (ICO) of GNOX is also being compared by some to that of Ethereum’s Ether.

It is important to note that the GNOX token is yet to launch and list on any exchange. In a recent tweet, the project conducted a vote, seemingly to tease which exchange it will pick for listing. Due diligence must be chosen over any impulsive approach.

Also read: Who is Ishan Wahi and what is crypto insider trading?

What’s the latest on Jupiter crypto?

The second crypto in focus at the moment is Jupiter, which is launching a new NFT collection on July 25 at 4:00 PM UTC. The Jupiter crypto is otherwise a “blockchain project”, which has a decentralised messenger, Metis.

The JUP token is already listed on exchanges like Coinbase, and as of writing, the price is nearly US$0.015, up 20% in 24 hours. The 24-hour trading volume of token is up nearly 600%. The conspicuous spike in its token price and trading volume can be possibly attributed to the JUP NFT launch. The launch will have 900 JUP APES, out of the total 10,000 which are available for enthusiasts on the ARC marketplace.

24-hour rise (in percentage)

Data provided by CoinMarketCap.com

Bottom line

The two aforementioned cryptos are trending for different reasons. The ongoing upward movement in the prices of Bitcoin and Ether seems to have little to do with the rise in interest in GNOX and JUP. The GNOX token is in focus even prior to its actual launch and listing. According to the project, the launch is in mid-August.  On the other hand, JUP APES, the NFT collection of Jupiter blockchain, is the reason why the JUP token is rising.

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