Cryptonews News Massive Shiba Inu (SHIB) Burn Is Increasing Its Price. Gnox Token (GNOX) Follows And Decreases The Supply From 5B To 240M

Massive Shiba Inu (SHIB) Burn Is Increasing Its Price. Gnox Token (GNOX) Follows And Decreases The Supply From 5B To 240M

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There are two coins people are talking about right now in the crypto world: SHIBA and GNOX. They’re both interesting projects, and they’re both carrying out massive token burns to help increase their future price. Is this necessary, and are these tokens the future? Let’s have a look…

SHIBA

SHIBA coin has taken a fair bit of flak in the last year or so. While enjoying incredible price rises, its value has stagnated somewhat. But SHIBA is currently undergoing huge token burns, and has introduced rewards for holders who choose to burn their tokens. Burning is an important step towards limiting supply, and has been used by many coins to successfully increase prices. SHIBA’s price has dipped somewhat, but it is still higher than it was a year ago. Perhaps the crypto industry is currently learning that people need to look at things longer-term. Even so, SHIBA’s current huge burns could help the price improve in the shorter term.

Many just see SHIBA as a memecoin, with no actual value. And there’s one coin we love that sits at the opposite end of the spectrum to this. It has an incredible amount of value packed into its underlying technology…

GNOX

GNOX is also carrying out a huge number of burns as part of its second pre-sale phase. Supply of the coin is being slashed from 5billion to 240million. And for a token that’s already been growing in price, this could be huge for its future value.

Unlike SHIBA, GNOX isn’t just a memecoin. It’s serious, and it intends to be here to stay.

GNOX founders noticed a problem with the crypto industry, and one that was holding it back from mass-adoption into the mainstream. That problem? It’s complicated. Especially DeFi investing. Regular savers want better interest rates, but they don’t understand how staking works. They want to enjoy passive income returns, but they don’t want to manage their funds. That’s why GNOX is perfectly placed as the bridge between digital currencies and real-world investment.

GNOX levies a sales tax with funds pooled into a treasury. This treasury is then reinvested into other projects and currencies, with holders voting on how much risk these investments are open to. Holders then get passive income returns paid out to them every month, with none of the stress or complications associated with staking your own tokens.

That’s why GNOX is already enjoying a successful pre-sale phase. And with a huge number of tokens set to be burned over the next few weeks, that pre-sale could become even more successful.

Token burns have always been important in crypto. But whether they’re being carried out to prop up a struggling coin, or help an incredible one reach its true potential depends on the underlying token itself. That’s why we believe GNOX is a win.