GNS has rallied to an all-time high of $10.31 Since it launched on Arbitrum, it has seen increased user activity. Following its inclusion in Binance’s Innovation Zone on 17 February and the opening of trading for the GNS/BTC and GNS/USDT trading pairs on the cryptocurrency exchange, Gains Network [GNS] rallied to an all-time high of […]
Gains Network was initially deployed on Polygon network. However, its growth trajectory witnessed a noteworthy uptick following its deployment on 31 December 2022, on Arbitrum, an Optimistic Rollup solutions provider on Ethereum., Gains has recorded over $4 billion in trading volume on the Arbitrum blockchain nearly two months after being deployed on the chain.
This has further driven up the value of the platform’s GNS token, contributing to its recently achieved all-time high.Further, since it launched on Arbitrum, there has been a significant surge in the number of crypto, FOREX, stocks, and Indices Open Interests on Gains Network. As of this writing, Open Interest on the protocol was $53.75 million, having increased over 30% since 31 December 2022.
When the open interest on a crypto exchange is increasing, it means that the number of contracts that have been created and are currently outstanding is growing. This can be interpreted as an indicator of market activity, as it suggests that more traders are entering into positions on the several assets listed on the exchange.As for the total value of assets locked on the protocol, it has jumped by 155% since the year began, data fromWhile the protocol is barely two months old on Arbitrum, its TVL on the chain totaled $31.36 million, while its TVL on Polygon, at press time, was $17.71 million.Subscribe to get it daily in your inbox.
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