Safe is the ownership layer of web3, securing more than 100 Billion, which includes Safe Core, a full stack of account abstraction infrastructure, and the industry-standard multi-sig Safe(Core). It is focused on making every Ethereum account a smart account while enabling new use cases like staking, gaming, defi, and more.
The SAFE core contributors have over 15% of the supply, while the 40% SAFE DAO treasury and 15% in the Gnosis Dao treasury. Recently, SAFE Dao has prepared to vote on a new token utility and move towards SAFE unlock. Let’s have a look at SAFE’s on-chain analytics.
SAFE Transactions Surge Along With The Active Treasury
Safe is at the forefront of modular smart contract infrastructure while paving the way for developers to create applications and wallets. It brings digital ownership of accounts to everyone by building universal and open contract standards for the custody of digital assets and identity.
Their goal is to establish smart contracts as a default and to make it a reality across SAFE(Cross) and Safe(Wallet)
Source: Safe Transactions by Dune
Over time, the overall Ethereum balance of all SAFE Smart contracts has declined from $9.5 Billion to $6.97 Billion. The total number of Ethereum stored across all fiat values is $6,382,136,469. The number of SAFES created weekly has observed a slight decline and is near 3500.
Source: Safe Transactions
Safe transactions made across the mainnet have declined and have reached nearly 13000. The number of holders of the SAFE token is 10520. The core contributors of the protocol have 15 million in supply, while the airdrop participants have over 5 million in supply. Let’s have a look at SAFE’s price action scenario.
SAFE Declines 42% in a Year: Will the Bull Run Come Soon?
SAFE has a market cap of $900 Million and is ranked 97th in the CMC. It has a total supply of 1,000,000,000 SAFE and has 42.5% of the supply circulating in the market. It is trading near the value of $2.11, with a drop of 4% in the intraday session.
SAFE coin price has been trading below the 50 and 100 EMA. The upside momentum of the token price can be observed near $2.5. Meanwhile, the support of the asset price is nearly $1.8.
The RSI of the token price is near 41 with no slope, suggesting its presence in the neutral zone. The overall sentiment of the RSI is neutral.
Conclusion
Over the past few months, the SAFE protocol has seen exponential growth in active users and transactions. SAFE token price is currently trading in a consolidated zone but can see a new high in the future.
