• 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

Strata Protocol's Dynamic Yield Split Mechanism Enhances Predictability

chest

The Dynamic Yield Split mechanism in Strata Protocol ensures predictable outcomes for senior tranche holders while providing leveraged exposure for junior tranche holders.

user avatarMaria Fernandez

Strata Protocol Introduces Risk Tranching for Synthetic Yield Assets

chest

Strata Protocol, developed by Frontera Labs, redefines yield management by segmenting risk into senior and junior tranches, allowing capital to choose its risk profile.

user avatarKenji Takahashi

UXLINK CEO's Personal Token Buyback Signals Confidence in Web3 Growth

chest

UXLINK CEO Rolland's personal purchase of 1% of the total token supply signals confidence in the project's growth towards 2026.

user avatarGustavo Mendoza

Uniswap Price Struggles to Break Resistance Amidst Market Hesitation

chest

Uniswap price is currently hovering around 563 after a rebound from the mid-5 area, facing strong resistance from short-term moving averages, with sideways movement likely to continue unless it breaks above 580.

user avatarRajesh Kumar

MARA Holdings Transfers 263M in Bitcoin to Wintermute

chest

MARA Holdings executed a significant transfer of 288 BTC, valued at approximately 263 million, to Wintermute, indicating strategic liquidity management.

user avatarMiguel Rodriguez

Bitcoin Core Passes Security Audit and Increases Data Limit

chest

Bitcoin Core successfully passed its first third-party security audit and increased its OP_RETURN data limit.

user avatarLuis Flores

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.