Will momentum hold in 2022?

Gnosis gained traction in 2021, continually testing new highs, and showed a 678.95% return on investment as of 11 January 2022, according to CoinMarketCap. This decentralised prediction marketplace built on the Ethereum protocol allows users to build new market mechanisms for decentralised finance. 

Despite frequent corrections in the crypto market leading to volatility and dynamic trend cycles, 2021 brought bullish sentiment for gnosis. The GNO token price followed the momentum, touching several highs and even briefly crossing the $1,000 threshold in November 2021. But will the uptrend continue in 2022?

A gnosis coin price prediction depends on the cryptocurrency’s market dynamics and also on the coin’s features and progress in developing new products, such as the Gnosis Safe multichain rollout. 

What is the GNO price prediction for 2022 and beyond? Let’s dive deeper into the project.

 What is a gnosis coin? The project’s offering

Gnosis is a decentralised prediction platform built on the Ethereum protocol. Through its three integrated products, the platform allows users to securely create, trade and hold digital assets on Ethereum. Its products enable users to make predictions and collect information about future events. The platform’s design allows people to create a prediction market on which anyone can bet. Events covered range from sports to financial market fluctuations and even weather predictions and political agendas. 

“As a decentralised, permissionless platform, our goal is to make it as easy as possible for developers to build dApps on top of Gnosis. Whether you want to use prediction markets to predict climate change, govern a DAO [decentralised autonomous organisation] or build a flight insurance app, the range of relevant use cases is huge and we are excited to see them implemented by talented developers across the globe. We provide a devkit to make it as easy as possible to build a use case of your own on top of the Gnosis platform,” the Gnosis whitepaper stated.

In April 2017, Gnosis raised $12.5m in just 10 minutes during its initial coin offering (ICO) via a Dutch auction, which gave the project a valuation of $300m.

The company’s core objective is to provide customised information search and predictive assets to offer an effective forecasting tool. Gnosis works on the theory that collective predictions of a group of people are usually more accurate than even those of an analyst. Hence, from market trends to climate change, it can help in the prediction of a wide range of models.

The website offers a Developers section that contains tutorials and documentation to help developers, together with funding of up to $100,000 for developer teams to expand their product, along with mentoring and marketing. The team works closely with the community in upgrading and enhancing their services.

Gnosis has a dual token structure. The platform provides gnosis (GNO) and OWL tokens, which are both ERC-20 tokens. While GNOs were sold during the ICO, OWL coins can be earned by staking GNO tokens. 

The company also established a Gnosis decentralised autonomous organisation (DAO), the GnosisDAO, which has control over 150,000 ETH and eight million GNO tokens. 

GnosisDAO runs ​​Gnosis Auction, “a platform for conducting fair, transparent and decentralised batch auctions to enable token price discovery”. It enables the community and market forces to set a token’s value.  

Platform fees are paid in OWL tokens, and because they are created by locking GNO tokens in smart contracts, the number of tokens created is directly proportional to the length of the locking period. 

Gnosis coin news throws the spotlight on GNO’s latest projects. On April 2021, Balancer and Gnosis launched an Ethereum-based DEX called the Balancer-Gnosis-Protocol (BGP) that aims to protect traders from miner extractable value (MEV), which tends to damage the health of Ethereum.

In June 2021, the GNO team joined Erigon (formerly Turbo-Geth), to develop a next-generation Ethereum client. 

And in July 2021, the team announced that its Gnosis Safe platform is available on Arbitrum, Polygon and Binance Smart Chain.

“By offering compatibility with Layer 2s spanning popular networks, we hope to continue serving the growing sector of DeFi treasuries currently storing $55bn TVL [total value locked], DAOs managing $838m assets, and a wide range of investors, institutions, projects, teams and individuals,” Gnosis said in a statement.

Gnosis (GNO) price analysis 

Gnosis’s fundamentals revolve around keeping the community at the centre. It runs a co-working space for decentralised technology initiatives, called Full Node, and hosts a non-profit conference for the Ethereum ecosystem, DappCon.

The GNO token price has come a long way from its initial coin offering (ICO). After launching at $30, the gnosis price spiked at $266 in 2017, and the explosive growth in bitcoin in 2018 helped its value to reach $400 for the first time. However, the coin’s price began to slide and stayed low for the next year, before touching an all-time low of $7.05 on 13 March 2020.

However, GNO rebounded, ending 2020 at $75.50. Gnosis continued the positive trend in 2021 with a few occasional dips, and hit its all-time high of $1,088.87 on 16 November. A retracement followed and the token ended the year at $532.12.

At the time of writing (11 January), gnosis was trading at $402.10 and had a market capitalisation of $750m, placing it in 96th position in the list of top cryptocurrencies by market cap, according to CoinMarketCap.

Gnosis (GNO) price prediction: Targets for 2022, 2025 and 2030 

From a short-term perspective, technical analysis from CoinCodex shows that sentiment for the gnosis coin value is bearish at the time of writing (11 January). There are 17 indicators showing bearish signals, while 12 are bullish. 

The daily simple and exponential moving averages (except for the 200-day MA and EMA) are bearish, along with the volume-weighted moving average. The stochastic RSI and the Hull moving average are giving ‘buy’ signals. The average directional index (ADX), relative strength index (RSI) and moving average convergence divergence (MACD) remain neutral.

CoinCodex predicts that the value of the gnosis token could hit $ 399.56 by 16 January.

Longer-term GNO forecasts from algorithm-based forecasting sites are bullish as of 11 January:

• According to WalletInvestor’s GNO/USD prediction, the token’s price could hit $2,024.17 by 2027. The token could close 2022 at $724.357, move up to $1,043.90 by the end of 2023, touch $1,364.91 by 2024, and close 2025 at $1,684.41.

• PricePrediction expects GNO to reach $598.26 by the end of 2022, hit $869.30 in 2023 and hike up to $1,251.09 in 2024. It could reach $1,782.75 by 2025 and by 2030, PricePrediction’s algorithm places GNO at $11,654.74.

• According to DigitalCoin, GNO is expected to end 2022 at $564.91. The algorithm predicts that gnosis could reach $647.84 in 2023, $769.7 in 2024 and touch $826.31 in 2025. By 2029, the cryptocurrency could be priced at $1,692.65.

When looking for gnosis crypto forecasts, bear in mind that analysts and algorithm-based predictions can be wrong. Their GNO projections are based on fundamental and technical studies of a cryptocurrency’s past performance. Past performance is no guarantee of future results.

It’s essential to do your own research and always remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio, and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.

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