Retail investors remain highly bullish. Despite having a lower volume, weekend trading is the best gauge of retail sentiment as institutional investors do not trade over the weekend. With inflation steadily decreasing and signs of the DXY (US Dollar Currency Index) weakening, the risk appetite is growing, which is brilliant news for cryptocurrencies. Specifically, Gnox (GNOX), PolkaDot (DOT), and Harmony (ONE) holders are super bullish for this coming weekend, and technical analysis explains why.
Gnox is a fresh addition to the Binance Smart Chain and a protocol that gives ordinary crypto investors easy access to the profits of DeFi (decentralised finance). GNOX represents a single investment vehicle for DeFi exposure and brings the profits of yield farming to investors without the stress of rug pulls or impermanent loss. This highly simplified stratagem is made possible by Gnox’s treasury which is funded by buy and sell taxes and earns within DeFi for investors.
Gnox holders are bullish for the weekend due to the treasury’s performance. It continues to add roughly $10,000 each day, and with investors already receiving hourly BUSD reflections, the anticipation for the first monthly BUSD reflection grows.
Scalability was the most significant challenge faced by blockchains, part of the famous blockchain trilemma: decentralisation, security, and scalability. Developers built layer one protocols to address the scalability issue, and PolkaDot, a layer zero protocol, addresses the next big issue within the blockchain space: interoperability.
Blockchains are isolated by nature, and PolkaDot, with its relay chain and parachains, will change this entire paradigm by allowing the free communication of both assets and data between native chains. PolkaDot is a project of the future and one that most investors are incredibly bullish on.
DOT trades above $7, and the RSI (Relative Strength Index) has bottomed out, signalling an incoming climb.
Harmony is a blockchain created to address the limitations of the Ethereum Network. The Harmony Network is scalable, decentralised, and highly secure. With transactions on the network having an average finality of one second, speed is something the network does very well, and this is due to its Sharding protocol.
ONE trades at $0.02 and has consistently been setting higher highs and higher lows on the daily chart since the start of July. The bulls are in control and will likely soon push ONE towards the $0.03 price point.
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