Introduction to Gas (GAS)
Gas, often denoted by the ticker symbol GAS, is a fundamental cryptocurrency token operating within the NEO blockchain ecosystem. Launched in 2017, it serves a specific and critical purpose: it is the token used to pay for transaction processing fees on the NEO network. Every time a user or developer executes a smart contract or transfers an asset on NEO, the computational resources required are paid for using GAS. This creates inherent utility and demand for the token within its native environment.
Key Metrics and Market Data
Understanding the current market status of GAS is crucial for any potential investor or enthusiast.
Current Price: The latest known price for GAS is approximately $2.82 USD.
24-Hour Performance: Over the past day, the price has seen a decrease of roughly $0.09, representing a change of -3.12%.
Trading Volume: The 24-hour trading volume for GAS stands at $7.97 million, indicating active market participation across various exchanges.
Market Capitalization: With a circulating supply of 64.99 million tokens, GAS currently boasts a market capitalization of approximately $182.96 million, ranking it within the top 300 cryptocurrencies globally.
Circulating Supply: All 64.99 million GAS tokens are currently in circulation.
The Role and Utility of GAS in the NEO Ecosystem
GAS is not merely a speculative asset; its value is derived from its functional role. The NEO blockchain, often referred to as a platform for a "smart economy," utilizes two native tokens: NEO and GAS.
- NEO: This token represents ownership in the NEO blockchain. Holding NEO entitles you to participate in network governance through voting and, crucially, to generate GAS tokens.
GAS: This is the "fuel" that powers operations on the network. It is used to pay for:
- Deploying and executing smart contracts.
- Transferring assets like NEP-5 tokens.
- Recording data on the blockchain.
This economic model ensures that the costs of maintaining network security and performance are borne by those who use its resources.
Analyzing GAS Price Trends and Investment Potential
Evaluating any cryptocurrency requires a careful look at its historical performance and future potential.
Historical Price Context: It's important to analyze GAS's price history, including its all-time high and low points, to understand its market cycles and volatility. This analysis provides context for its current valuation. For those looking to delve deeper into technical analysis and spot potential trends, utilizing advanced charting tools is essential. 👉 Explore real-time charting tools
Is GAS a Good Investment?
This is a common question with no simple answer. With a market cap of $182.96 million, GAS holds a established position in the crypto market. However, the cryptocurrency space is inherently volatile. Potential investors should always conduct their own thorough research (DYOR), assess their personal risk tolerance, and consider the long-term utility of GAS within the expanding NEO ecosystem. Analyzing its price patterns can help identify potential entry points.
Frequently Asked Questions
What is the all-time high for Gas (GAS)?
The historical highest price recorded for GAS was $0, noted on January 1, 1970. It's important to verify this data with live charts, as this figure often indicates missing or unrecorded historical data from tracking sites. The current price is down 0% from this recorded high.
What is the circulating supply of Gas (GAS)?
As of the latest data, there are currently 64.99 million GAS tokens in circulation. The protocol is designed with a finite maximum supply, ensuring no further tokens will be created.
How is the market cap for Gas (GAS) calculated?
The market capitalization of GAS is calculated by multiplying its current market price by the total number of tokens in circulation. With a price of $2.82 and 64.99 million GAS circulating, the market cap is approximately $182.96 million.
What was the all-time low for Gas (GAS)?
The historical lowest price recorded for GAS is also listed as $0. This typically suggests that precise early historical data is not available on the tracking platform referenced.
How does GAS differ from NEO?
NEO and GAS have distinct roles. NEO is the governance token, representing a share of ownership and granting voting rights. GAS is the utility token, used specifically to pay for transaction fees and computational services on the NEO blockchain. Holding NEO generates GAS over time.
Where can I learn more about the NEO project?
For comprehensive technical details, development updates, and the project's roadmap, the official NEO foundation website is the primary source of information.