Why $GAS pumped so much ?
đ According to my analysis GAS ✠is pumping because of it's low supply of just 65 Million đ„
đ GAS (also known as NEO GAS) is designed to manage the Neo network. Neo features two main coins: NEO and NeoGas (GAS). đ° Both cryptocurrencies are capped at 100 million coins.
GAS plays a key role in managing the rights within the NEO ecosystem, such as accounting reconciliation and adjustments to network parameters. đ§ While GAS mining is planned for the future, it is not yet available.
âïž Every time a smart contract is executed, Blockchain technology verifies it through bookkeeping. Businesses using the Neo blockchain need to spend GAS to run their applications, such as paying smart contract registration fees. This GAS is then recycled back to NEO holders, along with newly generated GAS. đŒ
As the Neo network expands and gains more usage, the amount of GAS produced by holding NEO will continue to grow! đđ„
