As we dive into the following sections, you’ll find out exactly what the gOHM token is all about. By exploring the gOHM crypto asset, you’ll learn a lot more than just what gOHM stands for. We’ll unveil the asset’s relation to OlympusDAO and its role within that DAO’s ecosystem. Nonetheless, we’ll also take a closer look at this asset’s tokenomics.
However, since most of you are interested in making money with altcoins, mainly by trading them, we’ll devote a proper portion of today’s article to analyzing the gOHM price. By using the basics of technical analysis (TA), we’ll provide you with all significant price levels, which can also serve as potential price prediction targets.
Now, if you’re wondering if you should invest in the gOHM crypto, then you’ll want to research the token further using Moralis Money. After all, that ultimate on-chain analysis tool will help you determine if and when you should buy $GOHM. Moreover, if you decide to invest, you’ll also need to know where to buy this crypto asset. As such, we’ll make sure you find out what the best place to buy the gOHM token is.
What is Governance OHM? Exploring the gOHM Token
Governance OHM, or gOHM, is an important part of the OlympusDAO ecosystem. As the name suggests, the token plays a key role in the DAO’s on-chain governance. As pointed out in the intro, this token wasn’t part of the project’s initial (v1) ecosystem. Instead, it came to life during the v2 migration, which took place at the end of 2021.
If you are familiar with OlympusDAO’s other tokens, it may help to note that the gOHM token replaced wsOHM and took over wOHM’s functionalities. The following image depicts this neatly:
Before we dive any further into the gOHM crypto asset, it’s worth pointing out that while the gOHM price analysis is the core of today’s article, we encourage you to learn about the asset’s basics first.
What Does gOHM Stand For?
GOHM stands for “governance OHM”, which is a form of staked and wrapped-staked OHM. Moreover, OHM is the symbol or ticker of OlympusDAO’s native cryptocurrency.
We know it can be quite confusing and overwhelming to wrap one’s head around all the tokens related to a single DeFi project. In the case of OlympusDAO, the v1 to v2 migration definitely caused some additional confusion.
Therefore, let’s do a quick recap of all tokens related to OlympusDAO:
- OHM – The Olympus ecosystem’s native cryptocurrency, which also migrated from Olympus v1 to Olympus v2 (both have the $OHM ticker symbol). This is the currency users stake to earn yield (a.k.a. “rebases”).
- Staked OHM (sOHM) – You can think of sOHM as a sort of IOU (“I owe you”) receipt issued to those who stake OHM. The amount of sOHM increases as stakers accumulate staking rewards. Once users unstake sOHM, they burn it in exchange for OHM. SOHM has no other utility than HODLing it. At the time of migration, users had to wrap their sOHM v1 to gOHM or switch it to sOHM v2.
- Wrapped Staked OHM (wsOHM) – OlympusDAO allows users to wrap sOHM and turn it into wsOHM. Traders can then move wsOHM off the Ethereum chain. However, with the v2 migration, wsOHM became deprecated and completely replaced by the gOHM token. Users had a chance to convert or swap wsOHM to gOHM.
- Governance OHM (gOHM) – This token replaced wsOHM and has cross-chain capabilities. It is also important to note that while the amount of sOHM is increasing, the amount of gOHM does not. Instead, its value increases with every rebase according to a specific equation (gOHM = OHM price x index).
Its Relation to OlympusDAO
If you covered the above sections, you already know that governance OHM plays a vital role within the OlympusDAO ecosystem. Aside from the obvious governance functionality, the gOHM crypto asset has other purposes. So, let’s look at the gOHM crypto’s core aspects:
- It supports on-chain governance, which resolved the infamous Olympus multi-sig FUD.
- Holders of gOHM tokens can vote on governance proposals.
- gOHM is cross-chain interoperable and supported by other DeFi projects.
- By going cross-chain, gOHM is an important part of Olympus’ goal of becoming the decentralized reserve system of Web3.
- This cross-chain interoperability also allows users to avoid high Ethereum gas fees since gOHM can be held and obtained on other networks with much lower transaction fees (e.g., Arbitrum).
What is OlympusDAO?
OlympusDAO is a decentralized autonomous organization (DAO) created by the original founders of the Olympus protocol, with the aim of decentralizing protocol governance. Through the DAO, individuals holding the gOHM token can participate in voting on different proposals.
For a more comprehensive explanation of “What is OlympusDAO?” check out our previous article on the topic.
The gOHM Token’s Role Within the OlympusDAO Ecosystem
The gOHM crypto token has a clear role within the OlympusDAO ecosystem. First, it is the asset that users get when they stake OHM. Accordingly, it is at the front and center of Olympus’ staking product.
Second, gOHM also serves as a governance token, allowing its holders to vote on DAO proposals.
In addition, gOHM serves other purposes. For instance, it can be used as collateral with flex loans, it can serve as a store of value, and it can be freely traded on several DEXs.
GOHM Tokenomics
The gOHM crypto asset’s primary home is Ethereum, where it follows the ERC-20 token standard. However, as pointed out previously, the asset is cross-chain interoperable and can be found on other supported chains. Now, let’s look at some of the tokenomics of gOHM:
- Token name: Governance OHM
- Symbol/ticker: gOHM or $GOHM
- Main network: Ethereum
- Network availability in addition to Ethereum:
- Token smart contract addresses:
- 0x0ab87046fBb341D058F17CBC4c1133F25a20a52f (Ethereum)
- 0x8D9bA570D6cb60C7e3e0F31343Efe75AB8E65FB1 (Arbitrum)
- 0x321e7092a180bb43555132ec53aaa65a5bf84251 (Polygon)
- 0x91fa20244fb509e8289ca630e5db3e9166233fdc (Fantom)
- 0x0b5740c6b4a97f90eF2F0220651Cca420B868FfB (Optimism)
- 0xd22C0a4Af486C7FA08e282E9eB5f30F9AaA62C95 (Boba)
- The token has no limited supply (it is mintable)
Full Governance OHM (gOHM) Price Analysis
It’s worth repeating that governance OHM went live in December 2021, which was also the time when the crypto market as a whole started its bear market. As such, the gOHM price reflects these circumstances. After all, if you look at the token’s chart below, you can clearly see the asset’s downtrend following the listing:
The initial gOHM price was quite high – nearly $31k. However, by May 2022, the token reached its all-time low (ATL) level. The latter still sits at $1,850-ish.
After hitting the aforementioned low, the gOHM price found support on top of $2,000. From that level, it tried to move to the upside several times but hasn’t managed to break above $3,300. As such, the token’s price has been bound to the $2,000-ish-$3,300-ish range for over a year.
However, it is worth pointing out that the GOHM price has been in a steady uptrend since its local low on November 29, 2022. At the time of writing, the asset is trading at around $2,966-ish.
GOHM Technical Analysis (TA)
The above daily chart indicates all the major levels of support and resistance (blue lines) for $GOHM. These levels are also the most likely targets when we talk about a gOHM price prediction.
Furthermore, if you look closely at these levels, you can see that the asset just broke above one of the major resistances at $2,945-ish. The price spiked all the way to $3,100-ish, but we still need to wait for a daily close above the previous resistance. Then, a retest of that level is likely to follow. If that level holds, we could soon see $GOHM attempting to break above $3,268-ish.
In the case of a further price appreciation, the entire region between $3,300-ish and $4,700-ish will likely offer some resistance. Still, in the upcoming bull market, the gOHM token has a good chance of breaking above these levels.
On the other hand, if the rest of the crypto market were to move further down, $GOHM would most likely break below the currently valid trendline (white line). Then, the price would revisit the lower support levels, potentially returning to the $2,000-ish level.
Should You Invest in the GOHM Crypto?
Instead of speculating further on a gOHM price prediction, we want to give you proper and actionable guidance to help you answer the above question.
First of all, make sure to consider your current financial situation and risk tolerance. These aspects are completely unique to you, and only you know them well.
Second, form a proper opinion about OlympusDAO and the gOHM crypto asset. Do you like the project? Do you want to utilize its products and perhaps stake its native token? Or do you prefer to focus on trading OlympusDAO tokens?
So, use the above sections and our past article about OlympusDAO to help decide if this project and its tokens deserve your further attention. If yes, then you want to research the project and its assets further. This is where Moralis Money’s governance OHM ($GOHM) token page enters the scene. You can also access that page via the interactive widget below.
On that page, you can find all the links and resources to decide whether or not gOHM is a good investment for you. Plus, by checking out the token’s real-time, on-chain metrics (a.k.a. alpha metrics), you can see whether the asset is gaining or losing on-chain momentum. Consequently, you’ll be able to front-run price action and make much more effective trades.
Note: Before you start trading $GOHM, also look at $OHM, as it may offer better trading volume and higher volatility. After all, the upside potential (percentage increase) of OHM is higher than any gOHM price prediction level.
Where to Buy $GOHM?
One way of getting your stack of the gOHM crypto asset is to stake $OHM. In that case, you should use the above $OHM page to get a bag of the Olympus token. Then, head over to the Olympus dapp and stake it. By staking OHM, you’ll likely want to commit to the Olympus ecosystem long-term and, in turn, worry less about any gOHM price prediction.
Of course, you can also buy gOHM directly using Moralis Money!
Whether you decide to buy $OHM or $GOHM, you can do so via the Moralis Money instant crypto swap feature. The latter awaits you on each token’s page.
Here’s where you’ll find this feature on $GOHM’s page:
Best Place to Buy the gOHM Token
The above-introduced Moralis Money swap feature turns all token pages on that platform into the best coin swap sites. After all, it covers all the key aspects, such as user-friendliness, safety, and low-fee prices.
When it comes to user-friendliness, the Moralis Money swap feature offers an intuitive UI and is right there where you are researching the token.
Note: If this is your first time swapping tokens, use our step-by-step guide on swapping ERC-20 tokens.
Plus, the swap already preselects the token in question (gOHM in this case), so you avoid the risk of landing on the wrong trading pair.
Last but not least, the Moralis Money swap feature ensures you always get the best available price. It achieves this feat by utilizing the power of the 1inch aggregator.
What is the gOHM Token? Full gOHM Cryptocurrency Analysis – Key Takeaways
- The OlympusDAO ecosystem introduced the gOHM crypto token in December 2021 as part of the protocol’s v2 migrations.
- The gOHM token replaced wsOHM and adopted its predecessor’s functionality. In addition, it brought to life on-chain voting.
- The price of gOHM is approximately 90% below its initial price.
- If you wish to focus on OlympusDAO’s tokens, it may be smarter to trade $OHM than gOHM.
- Do not waste time on any gOHM price predictions. Instead, use real-time price data and on-chain metrics to determine the asset’s momentum.
- You can buy gOHM directly or get it by staking $OHM.
- Before buying $OHM or $GOHM, make sure to use Moralis Money’s token pages to research assets.
- Don’t forget to consider the token’s on-chain activity (alpha metrics) to time your trades more effectively.
- Moralis Money’s token pages for $GOHM and $OHM are the best places to buy these assets.
Whatever you decide regarding the gOHM crypto token, you shouldn’t forget to consider other altcoins. After all, thousands of alts are circulating multiple blockchains, with new ones entering crypto daily. And traders who know how to find tokens before they pump can pocket desirable profits.
Fortunately, you can join these people in the know today!
Just take Moralis Money’s core feature – Token Explorer – for a spin. It’s completely free! Of course, if you are serious about your altcoin investing, you’ll want to opt for the Starter or Pro plan to access all the lower timeframes and get the ultimate altcoin advantage!
Moralis Money is an amazing tool powered by Moralis Web3 APIs, such as the Wallet API, Price API, and many others. It provides you with state-of-the-art, real-time, on-chain data, which empowers you to make timely and profitable trades.
