Safe

Token

Million

Rise

<ul class="list-ic vertical">
 <li>1 <a>The SAFE mainent has observed a decline in the number of SAFE created, and has reached 916.</a></li>
 <li>2 <a>Safe token price is currently trading near the value of $1.78, with a drop of 51% in the past one year.</a></li>
</ul>
SAFE is one of the ownership layers of Web3, which has secured more than $100 Billion. It also includes a full stack of account abstraction, infrastructure, and industry-standard multi-sig wallets. The SAFE platform is focusing on making every account a smart account while enabling new use cases like AI, staking, gaming, and many more. It has over 200+ projects, including Gnosis and Worldcoin, and is deployed over 15+ networks. The SAFE(Wallet) is used by individuals like Vitalik and giants like Shopify and Reddit.
The SAFE token has a total supply of 1,000,000,000, of which 42% is circulating in the market. 15% of the total supply is allocated to the core contributors, while 15% is allocated to the safe foundation. The SAFE token acts as your key to participate in the Web3 transitions to smart accounts. Let’s have a look at the onchain analytics of the SAFE.
<h2 class="wp-block-heading" id="strong-will-safe-observe-a-rise-in-overall-transactions-strong">Will SAFE Observe a Rise in Overall Transactions?</h2>
The<a href="https://www.thecoinrepublic.com/2024/02/10/is-keplr-wallet-safe-a-guide-to-the-cosmos-ecosystem-wallet/" target="_blank" rel="noopener noreferrer nofollow"> SAFE wallet </a>uses smart contracts which can be configured based on the needs of different user groups. It also provides modules to build automation into the account with improved transactions and experience. Over 8 Million SAFE accounts have been deployed to the network. It has seen over 40 Million transactions across the mainent.
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcQAhgEmeu4tnwC-sb3ZbihNC4ycKEA7hq0UVqx6juoxeKfcAIUfFgwYYn71W24_xBTWUbqiBxwR2_HTzz3PeQHDQuHxIxzIhwd-2UsJJFPL02iBrYO0s32_WfZ8Nt_YXAnptqeOMbSg3eltosBTzX_guTI?key=aDKeGpA_mBQc8bpJPMBYwQ" alt="">
 </figure>
</div>
Source: SAFE created by Dune
The overall Ethereum stored in all the SAFE contracts are over $6.3 Billion. The overall ETH stored in the GNOSIS safe contracts are 1237872. The number of SAFE created over time has been observed to decline, and it is currently near 686 on a daily basis. The overall transactions on the SAFE mainent have remained constant for a while. Meanwhile, the overall gas spent on SAFE transactions has seen a surge in the last few months.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdDpbb03re1RBDDf8VRI-h-qcvyghVJn22-Wa3BelC3y4GaBp325XbelFTcHeDJdOONgW9nECZI88nUV6DknfwS0tc0S9_IVHzyQhmFn9A7wVpzXqdmq1zzwdGOH4OVJcj5RK-PrNvgPAroKuOOSN3yb9A?key=aDKeGpA_mBQc8bpJPMBYwQ" alt="">
 </figure>
</div>
Source: Token Unlock&nbsp; by Coinmarketcap
The SAFE token will see an unlock of over 0.04% of the supply every day. The users will receive over 40.3 Million, while the SAFE foundation will receive over 50 Million tokens. Let’s look over the price action scenario of the SAFE token.&nbsp;
<h3 class="wp-block-heading" id="strong-the-downtrend-of-safe-price-continues-strong">The Downtrend Of SAFE Price Continues</h3> 
<a href="https://in.tradingview.com/chart/SAFEUSD/jTLI5kUf-</a> by <a href=" https: in.tradingview.com u ritika_tcr rel="noopener noreferrer nofollow">Ritika_TCR</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a> 
The SAFE protocol has a market cap of $755 Million and is ranked 106th in the cryptoverse. It has a VM ratio of 0.02, whereas the volume has surged by 16% in the last 24 hours. SAFE token price is currently trading near the value of $1.76, with a drop of 5% in the intraday session.
The asset price is currently in a strong bearish trend on the daily chart. It is trading below the 50 and 100 EMA on the 4-hour chart. The upside momentum of the asset price can see a halt near the value of $2. Meanwhile, the support of the SAFE token price can be seen near $1.5.
The RSI of the SAFE token in the 4-hour chart is 23, with a strong negative slope. The overall sentiment of the indicator is bearish in nature.
<h4 class="wp-block-heading">Conclusion</h4>
SAFE has been seeing an increasing surge in the overall transactions and Safes created. It also observes a 0.04% emission of supply daily, which can put bearish pressure on retailers. SAFE token price is currently in a downtrend but can see a new high in the future.

Will SAFE See a Recovery After Declining 51% in a Few Months?

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Thecoinrepublic.com

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