Spot

Status

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/significant-movement-of-stepns-gmt-tokens-to-binance-raises-market-concerns" rel="noopener noreferrer nofollow">Significant Movement of STEPN’s GMT Tokens to Binance Raises Market Concerns</a><br></p>
<p style="text-align: justify">A notable transaction involving the movement of 14.34 million GMT tokens, valued at approximately $3.87 million, from a STEPN-associated wallet to the <a href="https://en.bitcoinhaber.net/binance-clears-fud-and-proves-reserves-amidst-crypto-market-optimism" rel="noopener noreferrer nofollow">Binance</a> exchange platform has been reported. This transfer has contributed to increased selling pressure on the altcoin market.</p>
<p style="text-align: justify">The on-chain data monitoring service Spot On Chain revealed that the wallet, starting with 0x8b3 and believed to be linked to STEPN’s investor or team, sent a substantial amount of GMT to Binance roughly 20 hours ago.</p>
<p style="text-align: justify">Since July 2023, the same wallet has accumulated 131 million GMT through token unlocking events. During periods of price decline, it has deposited over 25.8 million GMT, worth $6.93 million, onto Binance, and currently holds 104.5 million GMT, valued at $27.7 million.</p>
<p style="text-align: justify">Large-scale sales from a single wallet in the altcoin market can trigger price drops, potentially leading to panic selling and increased volatility. Such events can have a ripple effect, influencing the overall market sentiment and causing rapid price fluctuations.</p>
<h2 style="text-align: justify" id="strong-current-status-of-stepn-s-gmt-strong"><strong>Current Status of STEPN’s GMT</strong></h2>
<p style="text-align: justify">As per CoinMarketCap, GMT’s value has decreased by 1.15% in the last 24 hours, with its trading volume rising by 7.44%. Over the past week and month, the altcoin’s price has diminished by 8.34% and 16.13%, respectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/significant-movement-of-stepns-gmt-tokens-to-binance-raises-market-concerns" rel="noopener noreferrer nofollow">Significant Movement of STEPN’s GMT Tokens to Binance Raises Market Concerns</a></h5>

Significant Movement of STEPN’s GMT Tokens to Binance Raises Market Concerns

Table of Contents

BH NEWS

Other articles published on Jan 29, 2024

Giant Chinese Asset Management Company Applied for Bitcoin ETF in Hong Kong!

Best Casino Apps That Pay Real Money in 2024

All Eyes on Bitcoin Turn to FED's January Interest Rate Decision! When Will It Be Announced? Here...

Ripple’s SEC battle gains edge with Revak case reference

Ripple: 5 Reasons XRP Could Still Surge in 2024

Trading Frenzy on Jupiter Exchange Amid Memecoin Airdrop Event

Join our free newsletter for daily crypto updates!