Overview of SAFE Token and Network

The quantity of SAFE tokens generated by the SAFE mainent has decreased to a total of 916. Currently, the SAFE token is valued around $1.78, showing a 51% decrease over the past year.

The Role of SAFE in Web3

SAFE plays a critical role in the Web3 ecosystem, securing assets surpassing $100 billion. It offers a comprehensive range of account abstraction, infrastructure, and industry-standard multi-sig wallets. The SAFE platform is dedicated to transforming every account into a smart account, facilitating various new applications like AI, staking, and gaming. With a wide array of projects exceeding 200, including notable names like Gnosis and Worldcoin, SAFE is operational across more than 15 networks and is widely adopted by prominent figures such as Vitalik and reputable entities like Shopify and Reddit.

Token Distribution and Utility

Out of the total supply of 1,000,000,000 SAFE tokens, 42% are currently in circulation. Core contributors hold 15% of the supply, while the SAFE foundation controls another 15%. The SAFE token serves as a key component in transitioning to smart accounts within the Web3 framework.

Onchain Analytics and Transactions

The SAFE wallet employs smart contracts customizable to cater to diverse user groups, enhancing transaction efficiency and user experience. With over 8 million deployed SAFE accounts and 40 million transactions completed on the mainent, the network is witnessing substantial user engagement.

Insights into SAFE Performance

The aggregate Ethereum stored in all SAFE contracts exceeds $6.3 billion, with GNOSIS SAFE contracts alone holding 1237872 ETH. The daily creation of SAFE tokens has been declining, reaching approximately 686 tokens. While transaction volumes remain stable, the gas spent on SAFE transactions has surged notably in recent months.

Price Action of SAFE Token

Despite the ongoing downtrend, the value of the SAFE token hovers around $1.76, experiencing a 5% intraday drop. Market data indicates a bearish trajectory, with the asset trading below key moving averages and displaying negative RSI momentum.

Future Outlook

SAFE witnesses a daily emission of 0.04% of its token supply, distributing tokens to users and the foundation. Although encountering a downtrend presently, the SAFE token holds potential for future growth given its increasing transactions and network activity.