Gnosis (GNO) Coin Price Index

In this article, we’ll discover how Gnosis (GNO) works within the broader crypto ecosystem, what benefits may arise from holding GNO, and how GNO price charts can reveal potential opportunities.

What is Gnosis (GNO)?

Named after the Greek noun for “knowledge” or “awareness,” Gnosis began development in 2015 on the Ethereum network, where it set out to bring predictive markets to the crypto sphere. According to the project’s white paper, Austrian-born economist and soft core libertarian Friedrich Hayek’s principle of encouraging market incentives for intelligence sharing is key to understanding its overall aims. Citing a few studies that indicate how various free markets can often “predict” events like pandemics before they reach critical mass, Gnosis aims to apply this logic on a macro level. By creating an open marketplace to “share” information, and place predictive positions on the outcomes of real-time events, “the World’s Most Efficient Forecasting Tool” has gone on to develop many interconnected services.

Since its launch in 2017, Gnosis has grown to encompass several network layers, multiple tokens, a development platform, and DAO with the aim of expanding predictive market capabilities. Notable among these efforts was the Gnosis token sale on April 24, 2017, where 10 million GNO tokens were put into circulation. This is the only time GNO tokens will be created, with the maximum supply having been reached. Participants who hold GNO can generate another, more transactional token, OWL, which also serves a crucial purpose in network functionality. As the flow chart below outlines, OWL tokens can be used across the Gnosis ecosystem for dApp and in-game actions. While many participants continued to buy ethereum, GNO has continued to maintain a loyal following.

However, it’s worth noting that Gnosis has undergone major changes since its emergence in the crypto space. While GnosisDAO purports decentralized control of the network, there’s contention among the community of the decision to burn a large supply of GNO. Such a rift among users can be worth understanding if you’re considering a long term commitment to the digital asset. It’s always a good idea to conduct individual research before putting funds or information on the line, and seeking out these integral details can help present the clearest picture.

Who are the Founders of Gnosis?

A subsidiary of the Ethereum-centered software company ConsenSys Inc., Gnosis is the brainchild of CEO and co-founder, Martin Köppelmann, CTO and co-founder, Stefan George and COO, Dr. Friederike Ernst. George and Köppelmann both share history in project development among crypto and Silicon Valley companies, and pooled their combined expertise to corner opportunities on the Ethereum network. Their mutual interest in predictive markets and systems infrastructure made them a natural pair, and being among the first to tinker with Ethereum’s initial offerings put the team at a unique advantage.

How does Gnosis Work?

Built on top of Ethereum’s base network, Gnosis created additional layers that serve a variety of development and market-making functions. The Gnosis Core, Service, and Applications layers offer a tiered experience to token holders and participants seeking to exchange their knowledge and expertise for a potential financial windfall. By posing questions whose answers break down into a few possible results, Gnosis enables participants to enter into smart contracts with fellow community members over possible outcomes. The project’s white paper uses the example of “‘Where will Amazon locate its next headquarters?’” with a list of possible cities for users to choose. 

The thinking here, according to Mont Pelerin Society co-founder Fred Hayek, is to build wealth from one’s intellect as a means of becoming a fully realized economic actor. Turning knowledge into value in the abstract, divorced from societal impact, while perhaps lacking critical application, offers a unique vantage point for understanding the current zeitgeist. At a macro level, Gnosis is perhaps the most elegant summation of late-capital markets: crowd-sourced inclinations distilled to a flashing number. The project makes opportunities available for people with varied backgrounds to interact, consolidate, and share knowledge in the spirit of orienting the exchange around financial speculation.

What’s the GNO Price History?

The Gnosis network’s primary native token, GNO, reached its historical all-time high on November 16, 2021, with a value of $1,088.87. This was a remarkable climb from its all-time low, which occurred on March 13, 2020, when the token dipped to $7.05. The difference between these two numbers should illustrate both the remarkable potential for growth, and devaluation that can transpire in the crypto space within a relatively tight time frame. 

What’s the current GNO Price Index?

While longtime GNO holders have no doubt seen massive gains, the current price at the time of this writing has the asset hovering around $224. Although still a significant distance from the single digits, the current valuation is a fraction of the all-time high. That’s why it’s important to understand Gnosis price over time to ensure sound decision making.

Where to buy Gnosis (GNO)?

Most places where GNO is available will also feature a Gnosis price chart to track the crypto’s overall and current performance. A trusted crypto exchange, like CEX.IO, is one place to consider purchasing GNO. With a reputation for working with regulators and maintaining all requisite licenses and certifications, CEX.IO is one of the most tenured crypto companies still in operation. Its legacy expertise allows the company to serve as a trusted guide for a global community of over six million participants. The tools, products, and services available through a web browser, or on a mobile device via CEX.IO App, offer best-in-class access to emerging opportunities in the digital economy. However, there are a few crucial steps to consider before making the decision to view live cryptocurrency prices. But first, take a moment to create a CEX.IO account and verify your identity for greater versatility along your crypto journey.

How to buy Gnosis (GNO)?

CEX.IO has long strived to allow smooth and convenient access to the crypto ecosystem for participants at every stage of the digital asset journey. By leading the industry in the development and accreditation necessary to process credit and debit card transactions, CEX.IO helped gain initial ground in the effort toward mainstreaming crypto usage. Ever since, the company remains committed to offering secure, intuitive pathways for exploring and seizing opportunities in a shifting landscape.

Now, let’s talk about precautions. Along with understanding the GNO historical price as we outlined above, conducting quick risk assessments and ad hoc price analysis can help recalibrate your real time approach. These principles also apply if you later decide to buy and sell cryptocurrency, or exchange BTC to USD. Once you decide to put your value and information on the line, there are a few ways to add GNO to your crypto portfolio. CEX.IO’s Instant Buy product via the website, CEX.IO Wallet, or CEX.IO App, are expedited pathways to purchasing GNO with a variety of approved payment rails. Alternatively, eligible participants can explore a range of possible trades and order types available on Spot Trading. However, the award-winning platform is limited at this time to select jurisdictions, and is geo-fenced to prevent outside access.

Once a product pathway has been selected, doublecheck the Gnosis token price to ensure it still aligns with any prior risk assessments. Remember, markets can move abruptly in both directions, so it’s impossible to be too careful. Once you’re satisfied, enter the amount of GNO you wish to purchase, and confirm your preferred payment method. Make sure to enter all information carefully, and read it back to identify and correct mistakes. When you’ve assessed and are happy with the transaction details, confirm the order. This process can be repeated to buy bitcoin, buy Binance Coin, or buy Tether.

FAQ

Is Gnosis (GNO) available on CEX.IO?

In addition to offering access to over 300 crypto markets, CEX.IO empowers its global community to choose whether GNO has a place in their crypto journey. Along with providing opportunities to buy Dogecoin, buy Binance Coin, and buy USDC, eligible participants can decide the amount in fiat or crypto they wish to purchase, and a means of payment to begin holding GNO. Depending on their current crypto goals, users may want to access CEX.IO services online via a web browser, or on their mobile device through the CEX.IO App.

What should I know before buying Gnosis (GNO)?

While Gnosis has undergone some transformations since its launch in 2017, it's important to get the clearest understanding of any asset before adding it to your digital portfolio. Although the project has gone through great lengths to push a community focused narrative, and even went so far as to relinquish control of the network to a DAO, there are other factors to consider. One such dimension is token distribution, which is available on most major price analysis platforms. At the time of this writing, GNO tokens are held in a 95.8% majority by Gnosis Vault, Founders, and the Project, with 4.2% locked up by ICO investors.

What payment methods are available on CEX.IO?

As touched on above, CEX.IO was a pioneer for expanding bridges with traditional finance to integrate across the crypto space. From credit and debit card purchases, to allowing U.S.-based participants to buy bitcoin with PayPal, there’s always new developments in the pipeline. Presently, CEX.IO account holders have a menu of possible solutions to choose from to best accommodate their crypto journey. Along with Apple Pay and Google Pay, users can link bank accounts, e-wallets, wire services, open banking solutions, and, of course, credit and debit cards.