• 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

XRP Ledger Achieves Quantum Security Milestone

chest

In December 2025, the XRP Ledger's developer testnet, AlphaNet, became fully quantum secure, marking a significant advancement in network security.

user avatarLi Weicheng

JPMorgan's Jamie Dimon Calls for Enhanced Blockchain Efforts

chest

Jamie Dimon emphasizes the need for JPMorgan to enhance its blockchain capabilities to compete with emerging crypto products.

user avatarTenzin Dorje

Schwartz Defends XRP's Advantages Over Stablecoins

chest

David Schwartz outlines the advantages of XRP over stablecoins like USDT during a discussion about cryptocurrency relevance.

user avatarBayarjavkhlan Ganbaatar

Thailand Proposes Stricter Scrutiny for Crypto Exchange Shareholders

chest

The Thai Securities and Exchange Commission has proposed new regulations requiring approval for indirect financial backers of major shareholders in crypto exchanges.

user avatarAisha Farooq

FDIC Seeks Public Input on New Stablecoin Regulation Framework

chest

The FDIC has proposed a new regulatory framework for stablecoin issuers, inviting public feedback over the next 60 days.

user avatarMohamed Farouk

XRP Ledger Activity Declines, Indicating Weakening Investor Sentiment

chest

The XRP Ledger has seen a significant drop in active wallet addresses, indicating a decline in user engagement and investor sentiment.

user avatarElias Mukuru

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.