Unveiling a significant amount of tokens, developers of a particular altcoin made a surprising move this morning. The STEPN team revealed the release of a whopping 79.203 million GMT tokens at 08:28 GMT, valued at around $15.9 million.
These newly unlocked tokens were swiftly transferred to a 4/5 multi-signature address, identified as 0x2D…C406. It is anticipated that more of these tokens will be distributed, with some expected to find their way to popular exchanges like Binance.
The wallet that received the tokens post-unlocking currently holds assets worth $18.53 million, all in the form of GMT tokens. GMT, once a prominent player in the “move-win” altcoin trend, now boasts a market cap of $427 million, a far cry from its peak of $2.28 billion.
During the previous bull run, GMT set records alongside other altcoins, but it is currently trading at a level 95% lower than its all-time high. As always, this information is not intended as investment advice.
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