Gnox (GNOX) Presale Phase 2 Sold Out, Will Phase 3 top Ethereum (ETH) ICO of 2014?

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Over the last crypto bull run, DeFi newcomer Gnox saw exponential growth in price. It is not uncommon, though. A slew of DeFi platforms produced massive gains in 2020 and 2021. However, since reaching their record highs, the majority of them have fallen by 80% to 90% or more, wiping out all of their gains.

With a strong business model that resulted in Gnox’s price growth, crypto analysts believe that the token will top Ethereum’s initial coin offering in 2014.

Ethereum's initial funding came from an ICO that took place in 2014. In exchange for bitcoin, buyers received ether, and more than 7 million ether—worth roughly $2.2 million—was sold in the first 12 hours of the sale.

By the time the sale was over, more than 50 million ether, or about $17.3 million, had been purchased. At the time, controversially, 9.9 percent of this ether was allocated to the Ethereum Foundation and another 9.9 percent went to the team who founded Ethereum. Many later ICOs adopted this feature, which is sometimes referred to as a pre-mine.

Most ICOs have used the Ethereum network and ERC-20 tokens, which are interoperable with all Ethereum tokens. Many ICO investors bought protocol-specific tokens with ETH. This increased ETH's price, which fueled the ICO boom.

Even before the Gnox platform officially launched, early investors have already made gains of more than 63 percent.

A rise in the price of the token over the coming month is all but guaranteed because additional gains are essentially built in. This is due to the fact that during the presale, a sizable portion of Gnox tokens is burned on the 12th of each month, every 30 days.

Investors have a good