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- 1 GNX launched a business and city management game for Mac and PC
- 2 In 2023, the token’s performance has shown upward momentum.
- 3 The token’s value rose to $0.0624 at the end of January this year.
The Genaro Network (GNX/USDT) is a decentralized storage platform that offers a Turing-complete public blockchain. It is considered one of the pioneers of Blockchain 3.0. The platform provides developers with a one-stop solution to deploy smart contracts and store data simultaneously.
It aims to encourage blockchain storage usage over cloud storage. It also aims to contribute to infrastructure development by creating common standards for decentralized applications.
The Vision and Plans of Genaro Network
To support the growth of the blockchain ecosystem, the network plans to open hubs in various locations worldwide. These locations will include Singapore and the United States. These hubs will serve as places for blockchain education and adoption, co-creation, co-working, and co-living. They will also act as accelerators for ideas that have the potential to change the world of blockchain.
The network has a native utility token called the GNX token, which is the lifeblood of the ecosystem. The GNX token acts as a medium of exchange on the network and compensates storage space lessors for leasing their spaces. It can be used in all decentralized applications built on the Genaro Network infrastructure.
However, the GNX token cannot be used for staking activities, giving yields, or voting processes on the network. To maintain price stability, the token will not be used for speculative purposes.
Technical Analysis and Prediction of the GNX Coin Price
The GNX coin price has decreased by 13.34% in the last day and 2.17% in the last 7 days. The current market capitalization of the Genaro Network is $531,293, and it has 650,000,000 circulating coins.
The current trading value of GNX coin price is $0.0008 and its trading volume is $13k in the last 24 hours. Moreover, the current resistance to the GNX bulls is at the levels of $0.000869 and $0.000934.
However, if the prices come under the bear’s grip, the GNX coin price may move toward its support levels of $0.000806 and $0.000769. The price prediction as per the technical analysis will be bearish if the current support level is broken.
What Do the Pivot Points Reveal?
| Pivot | Classic | Fibonacci | Camarilla | Woodie |
| S3 | 0.000345 | 0.000597 | 0.000749 | 0.000440 |
| S2 | 0.000597 | 0.000694 | 0.000772 | 0.000589 |
| S1 | 0.000708 | 0.000753 | 0.000795 | 0.000692 |
| P | 0.000849 | 0.000849 | 0.000849 | 0.000841 |
| R1 | 0.000960 | 0.000946 | 0.000842 | 0.000944 |
| R2 | 0.001102 | 0.001005 | 0.000865 | 0.001094 |
| R3 | 0.001354 | 0.001102 | 0.000888 | 0.001196 |
Conclusion
The Genaro Network aims to contribute to infrastructure development by creating common standards for decentralized applications. The network has a native utility token called the GNX token, which is the lifeblood of the ecosystem. The GNX price has decreased by 13.34% in the last day and 2.17% in the last 7 days.
Technical Levels
- Support Levels: $0.000806 and $0.000769
- Resistance Levels: $0.000869 and $0.000934
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
