• 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

Robinhood Expands into Stablecoin Yield with New Earn Structure

chest

Robinhood has launched a new Earn structure offering a 7% APY tied to USDG, entering the stablecoin yield market to attract users and enhance engagement.

user avatarMiguel Rodriguez

MEXC Reports Surge in Demand for SpaceX-linked Derivative Products

chest

MEXC reports a significant increase in trading demand for its derivative products linked to SpaceX, highlighting a trend in crypto exchanges offering synthetic exposure to private assets.

user avatarLuis Flores

Dave Portnoy Reveals Major Losses in Bitcoin Trading

chest

Barstool Sports founder Dave Portnoy reveals significant losses in Bitcoin trading, expressing regrets over his investment decisions.

user avatarArif Mukhtar

SEC Reports Stronger Capital-Raising Environment for Q2 2026

chest

The SEC's latest market statistics update indicates a stronger capital-raising environment for Q2 2026, highlighting increased IPO proceeds and its significance for crypto companies.

user avatarMaria Gutierrez

Farage's Financial Connections to Donor Questioned Amid Lobbying Claims

chest

The investigation into Nigel Farage's lobbying activities reveals his financial ties to billionaire Christopher Harborne, raising concerns about potential conflicts of interest due to a significant undeclared gift before the July 2024 general election.

user avatarZainab Kamara

New Analysis Created Utilizing SEC Data

chest

The report is based on information sourced from the SEC, providing stakeholders with accurate financial insights.

user avatarAndrew Smith

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.