Highlighting a recent token unlocking activity, Lookonchain, a market analytical platform, reported that the STEPN wallet had unlocked 74 million GMT for investors, with an approximate value of $25.47 million. The platform also noted that some investors deposited GMT on exchanges and immediately received the altcoin.
As of the reported time, GMT has experienced a 12.70% decline from its daily high of $0.3918. CoinMarketCap data shows that this drop has caused the altcoin to enter the red region on the weekly chart, with GMT currently valued at $0.3352 after a 3.24% decrease in the seven-day chart. This negative price change has resulted in GMT’s market cap being valued at $554,113,140.
Analyzing the GMT/USDT 1-Day Chart from TradingView, it is evident that GMT surged in mid-October 2023 and remained in the upper band until the last week of November 2023. However, a price correction occurred as the altcoin crossed above the barrier.
Throughout the last month of 2023, GMT fluctuated within the $0.3745 and $0.2445 ranges. Moving into 2024, GMT displayed positive price action, mostly influenced by the buyers, as indicated by the RSI touching the overbought region. Presently, GMT could be undergoing a price correction, with the formation of two red candlesticks. If selling activities persist in the market, the altcoin may continue to decline, prompting potential buyers to wait for market stability during its downtrend.
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