GNS (Gains Network) Long-Term Outlook
Here's my long-term outlook on GNS.
Fundamentals:
Looking at Gains Network Price-to-Sales (P/S) and Price-to-Fees (P/F) ratios both indicate that GNS is extremely undervalued (by between 4-16x) when compared to the same ratios of similar platforms.
Daily trade volume and daily users are increasing linearly, while daily trading fees has begun to grow exponentially. gDAI price is increasing linearly as expected, even though both Polygon and Arbitrum vaults are overcollateralized. This means more traders are using Gains, and stakers are benefiting.
The amount of staked GNS has remained fairly constant, while the GNS supply peaked in March 2023 and has become linearly deflationary since June 2023.
Technicals:
Technicals look very good, Buyers and Sellers historically have reached standstills at the following prices (± $0.10):
Each of these are key S/R levels.
RSI is crossed over it's MA right at 50 and trending upward which is very bullish considering we're testing the top of a major liquidity zone, however the momentum has crossed bullish, which means bulls are not quite ready to pull the trigger to the next resistance level.
Assumptions:
1. Gains user base continues to grow at the rate it has been, beginning to rival GMX.
2. Arbitrum continues to hold substantial L2 TVL.
3. The underdog competition MUX Protocol, which has grown exponentially faster than both GMX and GNS (in terms of TVL and number of users since respective date of inception) doesn't take away GNS market share and the fact that it's trading aggregator utilizes Gains for some trades is beneficial to Gains P/F.
I'm pretty confident about move #1 that we're due for a retest of the last pivot low before we see any real upwards movement. Obviously, each move is based on the previous one and the assumptions listed above.
This is not financial advice. DYOR. Manage risk.
Fundamentals:
Looking at Gains Network Price-to-Sales (P/S) and Price-to-Fees (P/F) ratios both indicate that GNS is extremely undervalued (by between 4-16x) when compared to the same ratios of similar platforms.
Daily trade volume and daily users are increasing linearly, while daily trading fees has begun to grow exponentially. gDAI price is increasing linearly as expected, even though both Polygon and Arbitrum vaults are overcollateralized. This means more traders are using Gains, and stakers are benefiting.
The amount of staked GNS has remained fairly constant, while the GNS supply peaked in March 2023 and has become linearly deflationary since June 2023.
Technicals:
Technicals look very good, Buyers and Sellers historically have reached standstills at the following prices (± $0.10):
- $5.00
- $5.50
- $6.00
- $9.00
- $12.00
Each of these are key S/R levels.
RSI is crossed over it's MA right at 50 and trending upward which is very bullish considering we're testing the top of a major liquidity zone, however the momentum has crossed bullish, which means bulls are not quite ready to pull the trigger to the next resistance level.
Assumptions:
1. Gains user base continues to grow at the rate it has been, beginning to rival GMX.
2. Arbitrum continues to hold substantial L2 TVL.
3. The underdog competition MUX Protocol, which has grown exponentially faster than both GMX and GNS (in terms of TVL and number of users since respective date of inception) doesn't take away GNS market share and the fact that it's trading aggregator utilizes Gains for some trades is beneficial to Gains P/F.
I'm pretty confident about move #1 that we're due for a retest of the last pivot low before we see any real upwards movement. Obviously, each move is based on the previous one and the assumptions listed above.
This is not financial advice. DYOR. Manage risk.
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