GNS Price Chart
This price chart from coinmarketcap.com shows the big jump for GNS in the past week. The chart was taken at 11:07am EST on 2/18/23.
The altcoin jumped 66.4% in only a week, surprising many crypto investors.
Binance added trading services for Gains Network (GNS) on Thursday and GNS promptly jumped from around $7.50 before the listing to a new ATH of $12.48, a 66.4% increase.
The 142nd-ranked crypto asset by market cap has since retraced to $11.14, though it is still up 45.33% in the past 24 hours. GNS, which launched on November 1st, is up a staggering 259% since the start of 2023.
Gains Network developed gTrade, a decentralized trading platform that offers leverage trading up to 150x on crypto assets, 1,000x on forex, 100x on stocks, and 35x on indices. GNS is the project’s Ethereum (ETH)-based utility token.
Gains Network notes in a new blog post that gTrade set new all-time highs for trading volume, earnings and distributed profits in January.
The exchange’s traded volume shot up from $1.10 billion in December to $3.42 billion in January, and gTrade also saw a 14.1% monthly increase in users, with more than 10,000 traders now using the platform.
Binance listed the asset in its Innovation Zone, a dedicated trading space for crypto assets that could be more prone to rapid price swings.
GNS
What is Gains Network (GNS)?
Gains Network (GNS) is a decentralized trading platform where the users can trade cryptos and forex with leverage. Leverage refers to utilizing borrowed capital to trade cryptocurrencies or other financial assets. According to its whitepaper, theplatform aims to create a decentralized finance ecosystem of the future. Gains Network launched their first decentralized leverage trading platform on Polygon (Matic) blockchain, i.e., gTrade. The network claims that the unique architecture of gTrade makes it more capital efficient than competitors’ platforms.
The Gains network intends to offer reward pools for its users. The stable vault assures a seamless trading experience for users, provides resilience to the system, and boosts the network’s capital efficiency. The two reward pools offered by Gains Network are as follows:
DAI Vault: Anyone can stake DAI in the vault and earn DAI rewards based on the platform’s volume.
GNS/DAI Pool: The user can access this pool only on the Polygon (Matic) mainnet and gets GNS rewards and dQUICK rewards for staking their LPs. dQUICK, often known as “Dragon’s Quick,” is the asset obtained by depositing Quick tokens into the staking contract.
GNS is the utility token of the Gains Network. It is an ERC20 standard token. The total of the GNS token is 38,500,000 GNS, and the
Generated Image: Midjourney
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