Gnosis Price

Gnosis is a decentralized application (dApp) built on Ethereum with a utility of prediction market platform, launched in 2017. GNO is the native ERC-20 token to the Gnosis prediction market platform, while the system includes the exchange and a multi-signature wallet. A prediction market uses predictions made by the market participants and platform users to forecast future events with accuracy – like price changes in the crypto market for example.

What are the factors that affect Gnosis price and how is the exact value of GNO determined?

If you’ve ever wondered this, then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of the intricacies of GNO’s price – and the factors that influence it.

Gnosis Price History

The price of Gnosis Gnosis is subject to frequent corrections in the market, driven by volatility and dynamic trend cycles. This volatility has seen GNO trading at lows of $6 all the way to highs of over $400. Because the crypto market is more volatile when compared to traditional markets, GNO price may rise or fall in a matter of hours with price corrections of 10%, 20%, and more.

In May 2017, one month after its initial coin offering (ICO) and launching at $30, Gnosis price skyrocketed to $266. This bullish trend more or less continued throughout June, with occasional dips. Still, GNO value was recorded above $200 during the entire month. The continued upwards momentum prevailed in the first week of July, when Gnosis price reached a milestone of $300 and traded above that price target for about a week. The trend was soon exhausted, seeing Gnosis value drop to $159 by the end of the month. Gnosis traded below the value of $200 during the entire month of August, dipping to new lows. The downward pressure continued into September when GNO price recorded a new low of $94. After a brief rebound in October that saw GNO price reach $143, bearish momentum once again set in, bringing new lows for Gnosis (GNO) at the value of $58 in November. December 2017 saw explosive price growth, as all major cryptocurrencies headed for all-time high prices spurred on by Bitcoins historic run.

This growth continued throughout January 2018 when Gnosis (GNO) value reached the price of $400 for the first time. However, the positive momentum didn’t last and was exhausted by the end of January, with Gnosis price once again trading below $200. The value of the token continued dipping in March and April, while May brought a slight rebound for GNO price. GNO couldn’t sustain the rebound, and ended the year trading at around $10.

2019 started in a similar fashion as how the previous year ended, with the overall bearish momentum dropping the value of GNO despite the rising popularity of prediction markets. Until June, GNO traded below $20. Very soon after GNO rebounded to the price of $20, the value dipped yet again, and the crypto traded at a price range between $10 and $17 by the end of the year.

In 2020, Gnosis traded at an all-time low of $6, staying valued below $20 until May. GNO broke the resistance of $30 in June and July, trading above $40 in August 2020. New highs close to $70 were recorded in September, followed by more dips in October and November. The price briefly recovered to $70 in December.

The year 2021 started with a bullish momentum in the cryptocurrency market and Gnosis followed suit. In January, Gnosis value recorded $121 and the positive trend continued with occasional dips. The highest value for the year at time of writing was recorded at $197.

Analyzing Gnosis Price History

Gnosis price history can be analyzed with many of the same techniques and strategies that are used by traditional stock market traders. One of the most common techniques used to analyze the market is technical analysis (TA), often combined with fundamental and sentiment analysis to predict the future price of GNO and other cryptos and financial assets.

Technical analysis is used when examining price charts and price history, including all relevant market data, to make an educated prediction of future events. TA can be used to make sense of trend patterns and price corrections in the volatile market of crypto assets.

Fundamental analysis takes important events and company information into consideration when analyzing GNO Gnosis and other cryptos. Events like partnerships, mergers, the activity of Gnosis dev team, upgrades, updates, and other important events. Fundamental analysis also looks into the technology and utility of crypto assets, and the use of prediction markets in the case of Gnosis.

Sentiment analysis uses opinion data to determine general sentiment in financial markets. Traders and investors often include emotion when predicting the future prices of GNO and other financial assets. Sentiment can be ranked as positive, negative and neutral, and can affect Gnosis price and market trends altogether. By combining these three techniques, crypto investors can make near-accurate predictions on the future Gnosis price.

Factors Influencing the Price of Gnosis (GNO)

A multitude of factors influences the price of Gnosis (GNO) at all times. Its price is in a constant flux of corrections and changing trend cycles. The limited total supply also affects the price of Gnosis, as the max supply is 10 million GNO and no more new coins will be minted, making it a truly scarce asset.

The price of Gnosis may change to match the wider economy or general crypto market sentiment.  Major worldwide events like Covid-19 and recession can also affect GNO price.

Another factor that may influence the price of GNO is its utility as the native ERC-20 token to the Gnosis prediction market platforms. As prediction platforms are experiencing rising popularity, emerging as a trend among investors, GNO might be gaining more on the positive momentum, which as a consequence may increase the demand for the token, and hence increase the price.

Institutional investors, positive crypto regulations, and the decreasing total supply also contribute to the price changes of GNO.

Live Gnosis Price and Market Cap

The live price of Gnosis (GNO) varies from moment to moment, dictated by the balance between buying and selling activity in the market. The market cap of Gnosis is equal to the number of GNO tokens in circulation multiplied by the current GNO price.

Considering Gnosis volatility, the price of GNO can experience radical changes within short timeframes, which means that traders and investors can collect maximized gains or suffer sudden losses in case of wrong investment moves and missed opportunities.

Gnosis Price FAQ

What Is the Highest Price of Gnosis in EUR?

Gnosis price history shows that GNO has recorded a peak value of EUR.

What Is the Lowest Price of Gnosis in EUR?

Kriptomat data confirms that EUR is the lowest recorded Gnosis value.

How Can I Buy Gnosis?

There’s no need to consult an expert to tell you how to buy Gnosis. It’s fast and easy to buy GNO at Kriptomat. Gnosis is available for immediate purchase at the current GNO price quote of EUR. Current prices are always displayed in the GNO chart.

What Is the Current Price of Gnosis in EUR?

Gnosis is available for immediate purchase at Kriptomat. The current price is EUR.

What is Gnosis (GNO) used for?

Gnosis is a decentralized prediction market platform, built on the Ethereum network. GNO is the native token of the Gnosis platform, and it is used to make price forecasts by users based on the concept of crowd wisdom. The Gnosis ecosystem also consists of exchange and a multisig wallet.

Conclusion

Gnosis is subject to perpetual flux created through the balance of buying and selling activity in the market, and as such, GNO price can experience radical changes and present plenty of opportunities for active traders to take advantage of.

With strong utility and user-friendly products, Gnosis seems to have a prominent future as a decentralized application for market prediction. The total supply of GNO is scarce, which may contribute to its price as long as there is increasing demand for Gnosis tokens in the future.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Gnosis and cryptocurrencies!