• 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

UCN Coin Surges as Crypto Market Faces Major Losses

chest

UCN Coin experiences growth in November 2023 despite significant losses in the crypto market, driven by grassroots adoption and a strong ecosystem.

user avatarMaya Lundqvist

Solo Mining Trend Emerges Amidst Industrial Competition

chest

A trend of solo mining is emerging, supported by advancements in mining pool technology.

user avatarLi Weicheng

Bitcoin Mining Market Faces Increased Competition and Declining Output

chest

The Bitcoin mining market has grown in complexity and competitiveness, with a significant decline in mining output despite rising hashrate.

user avatarLeo van der Veen

Bitcoin's First Halving Anniversary Sparks Industry Changes

chest

Thirteen years after Bitcoin's first halving, the mining industry is evolving with a rise in solo mining and industrial consolidation.

user avatarAisha Farooq

KuCoin Launches Black Friday Flash Deals for KuCard

chest

KuCoin has launched Black Friday Flash Deals for its KuCard, offering up to 20% cashback and prizes to encourage spending and attract new users.

user avatarTenzin Dorje

Best Wallet Token Achieves Major Fundraising Success

chest

Best Wallet Token raised over 181 million in one of the largest wallet-related presales, transitioning to live trading.

user avatarBayarjavkhlan Ganbaatar

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.