- Lookonchain tweeted that 3 whales transferred a staggering 6.83 million to OKX at present. GMT.
- If these whales resolve to promote the deposited GMT, they are going to be at a loss.
- At press time, GMT was buying and selling at $0.2483 after a 1.41% drop within the final 24 hours.
Analytics platform Lookonchain revealed in a tweet at present that 3 whales have collectively contributed a staggering 6.83 million to the centralized alternate OKX. STEPN (GMT), equal to 1.71 million USD. Apparently, the identical people had beforehand withdrawn GMT from Binance when the altcoin was buying and selling at a better worth.
Lookonchain information reveals that the identical whales took again GMT in 2022. on December 7 and eight, at a time when the worth of the cryptocurrency was round $0.4. If these whales resolve to do away with their deposited GMT tokens, they are going to be promoting at a loss, because the altcoin was valued at $0.2483 at press time, in accordance with CoinMarketCap.
This comes after the worth of GMT fell by 1.41% within the final 24 hours. The cryptocurrency’s worth loss has compelled it to weaken towards cryptocurrency market chief Bitcoin (BTC) by round 0.23%. In the meantime, Ethereum (ETH) was nonetheless up 0.31% at press time GMT.
Moreover, GMT’s newest worth drop has not had a lot of an affect on its weekly efficiency because the cryptocurrency remains to be firmly within the inexperienced +14.39% over the previous seven days. Alcoin’s efficiency for the month was additionally nonetheless on the rise because it was inexperienced over 24%.
Alcoin has misplaced two main ranges of help within the final 24 hours as it’s down greater than 11% within the final 48 hours. Throughout that point, the cryptocurrency breached the $0.2707 and $0.2525 help ranges, the place it continued to commerce at press time.
Regardless of this sharp drop, a excessive technical flag was not too long ago triggered on the GMT every day chart because the 9-day EMA crossed above the 50-day EMA yesterday. This meant that the altcoin entered a medium-term optimistic pattern and its worth might rise within the coming week.
If this optimistic thesis is confirmed, GMT worth might get well and break above the above talked about help ranges of $0.2707 and $0.2525. If this potential upward momentum continues, the cryptocurrency might even fall above $0.2895, in addition to problem the subsequent key worth of $0.3212 within the subsequent few weeks.
Nonetheless, a every day candlestick beneath the 9-day and 50-day EMA traces might put GMT susceptible to falling beneath the $0.2278 help. Continued promoting quantity might additionally push the altcoin worth right down to $0.2063 over the subsequent seven days.
Disclaimer: The views and opinions, in addition to all data shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own danger. Coin Version and its associates won’t be held accountable for any direct or oblique injury or loss.
