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ThecoinrepublicCryptocurrencyGNOSIS Unique Transfers Decline,While Price Dwindles To...
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GNOSIS Unique Transfers Decline,While Price Dwindles To A New Low

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.

GNOSIS

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.

GNOSIS

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?

Ritika_TCR on TradingView.com

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.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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