Be One

Read

Rise

Time

<p>According to a post by <a href="https://twitter.com/lookonchain/status/1722514928849113223?s=20" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>, the native token of the NEO blockchain, GAS, has pumped over 50% in the last 24 hours. This latest surge comes amid a massive 650% price increase over the past month. Several factors are driving renewed interest in the GAS ecosystem token.</p>
<p>GAS is the fuel that powers transactions and operations on the NEO network. 5 GAS tokens are generated with every new block, with a current circulating supply of around 10 million. But the total possible supply stands at 100 million GAS.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="852" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-852x1024.png" alt="" class="wp-image-373250" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-852x1024.png 852w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-250x300.png 250w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-768x922.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-1279x1536.png 1279w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-1705x2048.png 1705w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-125x150.png 125w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-100x120.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-291x350.png 291w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180-788x946.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-180.png 646w" sizes="(max-width: 852px) 100vw, 852px">
</figure>
<p>Data shows the majority of recent GAS trading volume is coming from Upbit, a popular Korean exchange. Prices on Upbit are also trading at a premium compared to other major exchanges like Binance. This localized demand appears to be catalyzing the broader price rally.</p>
<p>Upbit is also hosting a major NEO-focused conference on November 13. The event will include NEO’s Head of Eco Growth, likely drumming up further South Korean interest.</p>
<p>Additionally, NEO founder Da Hongfei recently revealed plans for a NEO sidechain aimed at eliminating toxic miner extractable value (MEV). As usage of this sidechain scales up, more GAS will be consumed to power transactions and operations.</p>
<p>With NEO ecosystem development heating up and exchange volumes skewed towards Asia, conditions are ripe for extended GAS price appreciation. As both a utility asset and speculative trade, GAS is attracting significant new inflows.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/ripple-xrp-poised-for-more-upside-analyst-says-this-level-is-the-time-to-be-a-buyer/" target="_blank" rel="noopener noreferrer nofollow">Ripple (XRP) Poised for More Upside, Analyst Says This Level Is the Time To Be a Buyer</a></li>
 <li><a href="https://captainaltcoin.com/this-token-could-be-one-of-the-biggest-gainers-in-2024-learn-why-everyones-investing-in-meme-kombat-mk/" target="_blank" rel="noopener noreferrer nofollow">This Token Could Be One Of The Biggest Gainers in 2024 – Learn Why Everyone’s Investing in Meme Kombat (MK)</a></li>
 <li><a href="https://captainaltcoin.com/which-cryptos-are-likely-to-rise-due-to-upbit-conference/" target="_blank" rel="noopener noreferrer nofollow">Which Cryptos Are ‘Likely’ To Rise Due to Upbit Conference?</a></li>
</ul>
<p>This perfect storm of growing developer activity, exchange dynamics, and scarcity due to its hard cap make GAS an intriguing cryptocurrency to watch in coming months. The token has reclaimed its all-time high and appears poised for further exponential growth as NEO expands.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-gas-price-up-here-are-reasons-behind-the-50-pump/" rel="noopener noreferrer nofollow">Why Is GAS Price Up? Here Are Reasons Behind the 50% Pump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is GAS Price Up? Here Are Reasons Behind the 50% Pump

目录

CaptainAltcoin

发布于 2023年11月9日的其他文章

Top Analyst Predicts Pullbacks for Solana and Altcoins, Updates Outlook on One Ethereum-Based Cry...

Spot BTC ETF approval by the SEC to begin the first window on November 9

Ripple CEO Ready to Take XRP Fight to Supreme Court, BTC Could See ETF Approval Tsunami, Shib Wal...

BLOCX. Announces A Comprehensive All-in-One Solution for Digital Device Management and Security t...

Bitcoin Dominates: Overtakes Ethereum In 24H NFT Sales Volume For The First Time

FTX’s New Management: SEC Gives Green Light for Relaunch

订阅我们免费的电子期刊，获取每日最新加密领域动态！