Gas is a crypto token that powers the NEO blockchain, a platform that enables smart contracts and decentralized applications.
Gas is used to pay for the computation and storage resources needed to run the network. Gas is generated as a reward for validating blocks on the NEO blockchain, and its supply is capped at 100 Million tokens.
Gas holders can use their tokens to participate in the governance of the NEO network, as well as to access various services and applications built on NEO.
Gas is also traded on various crypto exchanges, and its price is determined by supply and demand. NEO is a blockchain platform that aims to create a smart economy, where digital assets, digital identities, and smart contracts are integrated.
NEO supports multiple programming languages and has a high scalability and performance. It has a dual-token model, where NEO is the governance token and Gas is the utility token.
NEO holders can stake their tokens to generate Gas, and also vote on network parameters and consensus nodes.
Gas holders can use their tokens to pay for network fees and access various dApps and services on NEO.
Gas is a crypto token that enables the operation and development of the NEO blockchain, a platform that supports smart contracts and decentralized applications.
Gas is used to pay for network resources, and also to participate in network governance. Gas is generated by staking NEO tokens, and its supply is limited to 100 million tokens. It is also traded on various crypto exchanges, and its price is influenced by supply and demand.
GAS Chart Analysis
The GAS crypto asset is showing bearish traits and can lose more value. It has demonstrated poor performance in the past week, and month, by 11.08% and 34.88% respectively, highlighting a strong downward trend.
The GAS crypto is exhibiting an intraday decline of 2.37% in the last 24 hours, trading at $7.09. However, if the GAS crypto price fails to stay above the $7 level, it could decline further.
On the flip side, if the demand for the GAS Token remains high, the asset price could bounce back from the current level. Then, the next goal for the GAS price is to reach the $8 mark.
Summary
The GAS crypto asset is showing bearish traits and can lose more value. It demonstrated poor performance in the past week and past month, by 11.08% and 34.88% respectively, indicating a strong downward trend. Since the crypto is trading downward and plummeting, if the GAS crypto price fails to stay above the $7 level, it could decline further.
Technical Levels
Support Levels: $7
Resistance Levels: $8
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
Source: https://www.thecoinrepublic.com/2023/12/12/can-gas-crypto-reverse-from-current-base-zone-or-decline-further/