Gnosis (GNO)
Gnosis Chain validator token and Safe network governance token with real utility and Ethereum alignment, but niche chain and high price vs fundamentals
Ranked 49th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
GNO scores 128 of 250 across the 25-variable framework, which places it 49th of 251 rated tokens and inside the top quartile of the set. The framework verdict is CAUTIOUS HOLD.
GNO is a top-10 name in the set on one variable. The score rests on Holder Concentration 5/10, 10th of 251, Treasury Runway 7/10, 11th of 251, BTC Alpha Potential 5/10, 13th of 251 and Regulatory Safety 7/10, 17th of 251.
Against the same universe, GNO sits in the bottom third on Circulating / FDV Ratio 2/10, 241st of 251 and Supply Inflation 3/10, 199th of 251. These are the variables that would have to move for the verdict to change.
88% of eventual supply is already circulating, so vesting is not a live risk for GNO. Price has to be justified by demand rather than absorbed against a cliff.
GNO trades 83.5% below its all-time high of $644.20. Recovering that level is a 6.1x move, not a 83.5% one, which is the arithmetic most drawdown charts hide.
$600.0M sits in the protocol. The token is capitalised below the value locked in the protocol.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 5 | 37th of 251 | |
| Revenue Trend | 5 | 32nd of 251 | |
| P/S Multiple | 4 | 104th of 251 | |
| Real Staking Yield | 6 | 17th of 251 |
Supply
| Supply Inflation | 3 | 199th of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 2 | 241st of 251 | |
| Buyback and Burn | 4 | 40th of 251 |
Ownership
| Smart Money Flows | 6 | 26th of 251 | |
| Insider Selling | 6 | 21st of 251 | |
| Holder Concentration | 5 | 10th of 251 |
Traction
| TVL Trend | 5 | 30th of 251 | |
| Active Users | 5 | 38th of 251 | |
| Developer Activity | 6 | 33rd of 251 | |
| Network Growth | 5 | 52nd of 251 |
Position
| Market Share | 5 | 52nd of 251 | |
| Competitive Moat | 6 | 29th of 251 | |
| Institutional Adoption | 5 | 36th of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 5 | 41st of 251 |
Risk
| Regulatory Safety | 7 | 17th of 251 | |
| Catalyst Calendar | 5 | 50th of 251 | |
| BTC Alpha Potential | 5 | 13th of 251 | |
| Team Execution | 6 | 30th of 251 | |
| Treasury Runway | 7 | 11th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Gnosis Pay card adoption and Gnosis Chain positioning as Ethereum's community L1
Principal risk
Gnosis Chain has minimal DeFi activity vs Ethereum L2s; GNO value thesis relies on staking yield and Safe governance
Market and supply
| Price | $106.18 |
| Market cap | $280.3Mrank 130 |
| All-time high | $644.208 Nov 2021 |
| Circulating supply | 2,639,589 |
| Eventual supply (max supply) | 3,000,000 |
| Dilution to full supply | 1.14x |
| Total value locked | $600.0M |
| Listed on | Binance, Kraken, Uniswap |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to GNO measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Sources
- [DeFiLlama] Gnosis Chain uses a dual-token model where GNO is staked to validate; ~$600M in bridged TVL
- [Gnosis Pay] Gnosis Pay launched a Visa debit card backed by crypto, targeting European crypto-native users
- [GnosisDAO] GNO provides governance over both Gnosis Chain and Safe DAO treasury, one of the largest DAO treasuries in DeFi
Common questions
- What is the Early Thunder score for Gnosis (GNO)?
- GNO scores 128 out of 250 on the 25-variable framework, ranking 49th of 251 rated tokens (top quartile). The framework verdict is CAUTIOUS HOLD.
- What are GNO's strongest fundamentals?
- GNO ranks highest on Holder Concentration 5/10, 10th of 251, Treasury Runway 7/10, 11th of 251, BTC Alpha Potential 5/10, 13th of 251 and Regulatory Safety 7/10, 17th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the GNO thesis?
- GNO scores in the bottom third of the universe on Circulating / FDV Ratio 2/10, 241st of 251 and Supply Inflation 3/10, 199th of 251. The single risk carried on the scorecard is: Gnosis Chain has minimal DeFi activity vs Ethereum L2s; GNO value thesis relies on staking yield and Safe governance
- How much GNO supply is still to enter circulation?
- 88% of eventual GNO supply is circulating today, leaving 1.14x the current float still to arrive. At a flat price per token that is 12% of fully diluted value ahead of current holders.
- How far is GNO from its all-time high?
- GNO trades 83.5% below its all-time high of $644.20. Returning to that high requires a 6.1x move from the level used in this scoring pass.
- Which tokens have a similar profile to GNO?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to GNO are W (92), SSV (106), IO (108) and ENS (137). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for GNO?
- Gnosis Pay card adoption and Gnosis Chain positioning as Ethereum's community L1
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.