Safe Coin: A Comprehensive Overview

Safe coin has experienced a significant decline in its weekly transactions recently. The coin's intraday session witnessed a substantial decrease of 42%, with its current trading value hovering around $2.11.

Safe serves as the ownership layer of web3, securing a vast amount exceeding 100 billion. The ecosystem includes Safe Core, offering a comprehensive account abstraction infrastructure, and the industry-standard multi-sig Safe(Core). The primary focus lies in transforming every Ethereum account into a smart account while facilitating various applications such as staking, gaming, and decentralized finance (defi).

Key stakeholders in the Safe ecosystem include SAFE core contributors, holding over 15% of the supply, the SAFE DAO treasury comprising 40%, and the Gnosis DAO treasury with a 15% share. Recently, the SAFE DAO initiated a vote on a new token utility, signaling a move towards SAFE unlock.

SAFE's On-Chain Analytics

Safe stands as a pioneer in modular smart contract infrastructure, providing developers with the tools to build innovative applications and wallets. By establishing universal and open contract standards for digital asset custody and identity, Safe aims to democratize digital ownership.

In recent times, the total Ethereum balance within all SAFE Smart contracts has dwindled from $9.5 billion to $6.97 billion. The cumulative Ethereum stored across all fiat values amounts to $6,382,136,469. The creation of new SAFES on a weekly basis has shown a slight decrease, nearing 3500.

Safe transactions across the mainnet have shown a decline, reaching approximately 13000. The number of SAFE token holders totals 10520, with core contributors holding 15 million in supply and airdrop participants possessing over 5 million.

SAFE Coin Performance and Outlook

With a market capitalization of $900 million, SAFE ranks 97th on CMC. The total supply of SAFE coins stands at 1,000,000,000, with 42.5% circulating in the market. Trading at around $2.11, the coin witnessed a 4% drop in its intraday session.

Price analysis reveals that SAFE coin has been trading below the 50 and 100 EMAs, indicating a challenging market presence. However, a potential upside momentum could emerge around $2.5, while a substantial support level is noted at nearly $1.8.

The RSI for SAFE coin's price hovers around 41, displaying a neutral sentiment with no clear trend. Overall, the protocol has witnessed significant growth in active users and transactions, setting the stage for a potential price surge in the future.