The post Binance Labs Dumps This Crypto Token Worth Millions appeared on BitcoinEthereumNews.com.

Binance Labs has transferred its remaining $7.29 million worth of GMT crypto tokens to Binance, marking the end of its involvement with the project. This follows the unlocking of 75 million tokens over time, valued at $16.05 million. The transfer has raised questions in the crypto community about its impact on the token’s future. With this move, traders and investors are now speculating on how the shift in holdings might affect GMT’s price and the growth prospects. Binance Labs Transfers 30 Million GMT Tokens, Sparking Speculation Binance Labs has transferred its remaining 30 million GMT tokens to Binance, marking the end of its involvement with the project. According to Etherscan, Binance Labs had obtained a total of 75 million GMT tokens through vesting and unlocking. These tokens were purchased at an average price of $0.214, with a total value of $16.05 million. This large-scale transfer has raised many questions within the crypto community. Now that the tokens are with Binance one of the top crypto exchanges, speculation is growing about what the exchange will do next. The big question is whether Binance will sell or hold the tokens. This decision could have a major impact on the token’s price. Large transfers like this often signal strategic moves behind the scenes, so traders are watching closely for any signs of upcoming changes. This move has also sparked debates about the future of the project. GMT plays a central role in the platform’s move-to-earn ecosystem. It encourages users to engage in physical activity by earning tokens. While it still has strong community support, the shift in Binance Labs’ involvement could affect market sentiment and long-term prospects. Over the coming weeks, we will see if this transfer is part of Binance Labs’ broader investment strategy or if it signals a significant shift for…

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Filed under: News - @ December 5, 2024 9:26 pm