Gnosis price prediction: Is DAO coin a wise investment?

GNO allows for participation in the Gnosis Chain ecosystem. But can it also generate returns?

Gnosis logo rendered on neon purple-lit computer chip background                                 
Gnosis provides multi-signature security on the Ethereum blockchain – Photo: Shutterstock
                                

Contents

In the following article, we take a deep dive into Gnosis (GNO), looking into the token’s price targets, tokenomics and utility. If you have Gnosis on your radar and want to get the full picture, Currency.com has got you covered. Keep reading to find out more…

Gnosis: A quick overview

First up, What is Gnosis (GNO)? Gnosis is in the business of decentralised finance (DeFi) for the Ethereum blockchain. In Gnosis’s words: “Our three interoperable product lines allow you to securely create, trade, and hold digital assets on Ethereum.”

One of Gnosis’s most popular products is Gnosis Safe, a multi-signature custodian protocol requiring a minimal number of stakeholders to approve a transaction prior to execution. Gnosis Safe is often used as a security function on major Ethereum-based DApps.

In November 2021, Gnosis and xDAI joined forces to begin development on the Gnosis Chain, an EVM-compatible, proof-of-stake (PoS) blockchain designed for interoperability and scalability, powered by the xDAI stablecoin. A large range of third-party DApps, including DeFi platforms, bridges, yield farms and NFT projects are deployed on the Gnosis Chain. Daily transactions number over 100,000, benefiting from a speedy five-second blocktime and cheap gas fees.

Graph of daily Gnosis Chain transactions and block times
Gnosis’s EVM-compatible blockchain has a speedy block time of five seconds – Credit: blockscout.com

Gnosis operates as a decentralised autonomous organisation (DAO), a governance system allowing holders of the native GNO token to have their say on protocol changes and tokenomics adjustments.

GNO coin: Key figures and uses

As of 9 March 2022, GNO is trading at $317.51. The token’s circulating supply is 1.86 million, making for a market capitalisation of $592.1m. A recent 24-hour trading volume of $8.19m constituted 1.38% of market capitalisation.

GNO is a governance token. Holders are given access to the GnosisDAO platform, with a minimum entry barrier of one GNO (which at the current trading value would be worth $317.51). Recent governance proposals pertained to token burning schedules, lock-up periods and business partnership agreements.

The majority of the 10 million GNO maximum supply sits in a vesting wallet, which releases GNO to stakeholders over a period of eight years. This wallet currently holds 77.14% of supply, valued at $2.31bn.

The GNO token was launched in April 2017, when a minimum of 10% was reserved as company tokens. Binance and Kraken are the primary centralised exchanges holding GNO liquidity.

GNO: The price action

Barring some brief bull runs within the nine months or so of the token’s launch – including daily highs of $358.01 on 3 July 2017 and $461.17 on 6 Jan 2018 – the price of GNO declined until it hit a daily low of $9.89 on 25 November 2018, from which point the token traded below the $10 price point until March 2020. From there it entered a sustained upward trend with strong price spikes on 8 May 2021 of $298.65 and $371.72 on 25 August 2021 before climbing to an all-time high (ATH) of $1,088.87 on 16 November.

GNO closed 2021 in good shape as the new year hit, trading at $529.30 on 2 January. While still a fair drop compared to its all-time high (ATH) in November, losses among many altcoin rivals were much higher.

The token proceeded to trend downwards throughout January 2022, plummeting to a daily low of $225.19 on 24 January. Since then, the token has regained some ground with its trading price of $317.51 on 9 March representing a 40.9% rise from the low of 24 January.

Since launch, GNO has generated 482% returns for early investors.

From the forecasters

The forecasters at Digitalcoin have a Gnosis price prediction for 2022 of $390.51, heading up to $593.61 in 2025, suggesting just shy of a two-times return on investment. Digitalcoin’s technical indicators mostly point to a bearish sentiment.

Trading Beasts is also bearish, with its Gnosis coin price prediction dropping 2.66% throughout April 2022 before rising only 4.49% by the year’s end to $313.65. The forecaster’s Gnosis price prediction for 2025 is $448.71, making for returns of 49.48%.

A Gnosis price prediction for 2030 of $8,012.05 has been forecast at PricePrediction. Hitting this price target could generate 26-times returns at today’s trading value. GNO could possibly exceed the $10,000 some time in 2031 according to the forecaster. Short-term GNO price prediction targets include $419.34 for 2022 and $1,213.54 for 2025.

Price targets at Wallet Investor’s Gnosis coin price prediction suggest an 82% rise in value to $548.27 over 12 months, heading up to $1,534.3 over five years. The forecaster’s technical indicators are mostly bearish.

Always keep in mind that any Gnosis price prediction presented above is the result of automated algorithms using prior pricing data. These can be useful as a guide, but should not be taken as genuine financial advice. Always do your own research. Currency.com recommends reading the white paper, looking at future plans, checking social media channels and getting independent, third-party advice.

FAQs

From a maximum supply of 10 million, there are currently 1.86 million GNO in circulation.

Gnosis looks to be a stable project with a strong DAO community. While the token could present a good investment opportunity, returns are not guaranteed. Currency.com recommends extensive due diligence to come to your own Gnosis price prediction before making an investment.

The GNO price prediction coverage ranges from short-term losses to 26-times returns by 2030. Given the varying opinions, you should take them with a pinch of salt. Further research should be conducted before making an investment.

That decision is yours to make. This Gnosis price prediction article is presented as neutral information and should not be taken as financial advice. Always do thorough due diligence on any project before making an investment, looking at the token’s white paper, reviewing price movements, checking for any developments in the pipeline and taking financial advice.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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