• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Binance Labs Sells Large Amount in Stepn (GMT) Cryptocurrency, Impact on Price

user avatar

by Giorgi Kostiuk

2 years ago

Binance Labs, the investment branch of Binance, has been involved in various cryptocurrency projects, including Stepn (GMT) altcoin. Recent data shows that Binance Labs made a significant sale of GMT, transferring 9.33 million GMT (equivalent to $3.14 million) to Binance.

Spot on Chain's report reveals that Binance Labs had previously deposited 37.1 million GMT at $0.24 and followed with 28.1 million GMT at $0.23. As of now, Binance still holds 9 million GMT, valued at $3.04 million.

After the sale by Binance Labs, the price of GMT started to increase gradually. However, this does not guarantee a continuous rise following the sale.

As of the latest data, GMT price has dropped by 9.4% in the past 24 hours due to Binance's transaction and the general market decline. Currently, GMT is being traded at $0.326.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Strategy CEO Discusses Potential Bitcoin Sales

chest

Phong Le, CEO of Strategy, discusses potential scenarios for selling Bitcoin holdings to finance dividend payments and adapt to market conditions.

user avatarBayarjavkhlan Ganbaatar

USDT Sees Significant Outflow from Exchanges, Indicating Investor Repositioning

chest

USDT experiences significant outflow from exchanges, indicating potential shifts in investor behavior.

user avatarMohamed Farouk

Ethereum Price Predicted to Surge Above $10,000

chest

Crypto analyst Crypto Patel forecasts that Ethereum's price could reach between $10,000 and $15,000 this cycle, driven by institutional adoption and changing market dynamics.

user avatarElias Mukuru

Bitcoin Price Forecast Remains Positive

chest

Bitcoin price forecast remains positive with analysts predicting a value of 86,068 in five days and 90,919 in three months.

user avatarKenji Takahashi

LTHSTH SOPR Ratio Indicates Growing Market Strength

chest

The LTHSTH SOPR Ratio indicates that long-term Bitcoin holders are realizing stronger profits than short-term traders, suggesting growing market strength.

user avatarDiego Alvarez

Bitcoin Surges to 81,000 as Bullish Sentiment Grows

chest

Bitcoin has recently touched the 81,000 zone, indicating a strong bullish sentiment in the market.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.