• 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

Americans Show Increasing Use of AI Despite Negative Sentiment

chest

A recent NBC News poll shows that while over half of Americans have used AI platforms, their overall sentiment towards the technology remains negative.

user avatarRajesh Kumar

Increased Activity on XRP Ledger Signals Network Usage Growth

chest

Transaction activity on the XRP Ledger has surged, indicating a rise in real network usage.

user avatarMiguel Rodriguez

XRP Market Liquidity Shifts to Upbit

chest

Recent data indicates that Upbit has surpassed Binance and Coinbase in XRP trading volume, signaling a notable shift in market liquidity.

user avatarLuis Flores

Sharplink Reports Significant Loss Amid Ethereum Price Drop

chest

Sharplink reported a full-year loss of $734 million due to declining Ethereum prices, despite achieving $101 million in profits in 2024.

user avatarArif Mukhtar

UK Political Landscape Faces Scrutiny Over Crypto Donations

chest

Reform UK has become the first major British political party to accept cryptocurrency donations, raising concerns about transparency, money laundering, and foreign interference in elections.

user avatarMaria Gutierrez

Nigel Farage Joins Stack BTC Plc as Investor

chest

Reform UK leader Nigel Farage has made a notable investment in Stack BTC Plc, contributing to a fundraising round aimed at bolstering the company's Bitcoin treasury.

user avatarDavid Robinson

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.