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- 1 GNOSIS TVL has reached to $305 Million while the treasury is near the value of $150 Million.
- 2 GNOSIS unique transfers have declined and are near 86.
- 3 GNO token price is trading near the value of $317 post a 1.44% intraday decline.
Recently, Metri was launched on the Gnosis chain which provides reliable self custodial management of crypto assets. Metri enables a broader range of users to access decentralized financial applications. Let’s have a look at the on-chain analysis of the GNO.
GNOSIS TVL Consolidates While TVL Declines
GNO, the official token of Gnosis has a total supply of three million with 86.32% of the supply circulating in the market. It has a total of 20045 holders which declined slightly over the past few weeks.
Source; Etherscan.io
Gnosis is currently seeing a decline in the overall unique transfers. The unique receivers of the GNO is 64 while the overall unique transactions has been seeing a slight decline. The protocol has seen more than 60% decline in the fees collected from last month. The overall revenue of the protocol has also been in a downtrend for the past few months.
Source: Gnosis TVL by Defillama
GNOSIS TVL is currently around $300 Million and has seen just $100 Million surge from the start of 2024. The total inflow of the protocol has been negative from the past few months and is near -$0.75 Million. The daily active adresses of the protocol has also been in a decline and is near 6.3k on the daily average basis. Lets have a look at the price action.
Will GNOSIS See a New High to $1000 Soon?
Gnosis has a market cap of $826 Million and is currently ranked 85th in the CMC. The trading volume of the token price has observed a surge of 12% in the past 24 hours.GNO token price is currently trading near $319 with a drop of 1% in the intraday session.
GNO token price is currently forming bearish candles on the daily chart. It is trading below the 50 and 100 EMA on the daily chart. The upside trend of GNO token can see a halt near the value of $350. Meanwhile, the support of the asset price can be seen near $300.
The RSI of GNO is currently near 45 with a downside slope in it. The overall sentiment of the RSI is bearish in nature.
Conclusion
GNOSIS has been seeing a consolidation in the overall TVL along with the active addresses. GNO token price is currently trading in a bearish mode and can see a new high in the future.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
