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Unlocking of GMT tokens by Stepnofficial

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It is reported that according to the monitoring data of Lookonchain, @ Stepnofficial officially unlocked 61.2 million GMTs (worth about 20.6 million US dollars)

Unlocking of GMT tokens by Stepnofficial

It is reported that according to the monitoring data of Lookonchain, @ Stepnofficial officially unlocked 61.2 million GMTs (worth about 20.6 million US dollars) for VC, consultants and teams five hours ago. According to data monitoring, five addresses that received unlock tokens transferred GMT to Binance, totaling 9.67 million GMT (worth about 3.25 million US dollars).

Stepn officially unlocked 61.2 million GMTs for VC, consultants and teams

Analysis based on this information:


According to the monitoring data of Lookonchain, Stepnofficial had officially unlocked 61.2 million GMT tokens. These tokens are worth around 20.6 million US dollars and were unlocked for VC, consultants and teams. The information was updated five hours ago, and since then, five addresses that received these tokens have transferred GMT to Binance. The total amount transferred is 9.67 million GMT, which is worth about 3.25 million US dollars.

This message conveys the unlocking of a significant number of GMT tokens by Stepnofficial. The unlocking of these tokens implies that the recipients can use them for various purposes. It is possible that VC firms and consultants will use them as a form of investment or as compensation for their services. Meanwhile, the teams may use the GMT tokens as a means of payment for products or services needed in their project’s development.

Interesting to note is how the message highlights the transfer of GMT tokens to Binance by five addresses. Binance is one of the most popular cryptocurrency exchanges globally, and such transfers suggest that these tokens are being converted to another form of cryptocurrency or sold for a fiat currency like the US dollar. The significance of this transfer is that it shows the popularity of GMT tokens and the liquidity of these tokens.

The message implies that Stepnofficial may have had an initial supply of GMT tokens, which were locked at the time of the launch, and subsequently unlocked. The GMT tokens are cryptocurrency tokens that are supported by blockchain technology, and they have a real-world value. The unlocking of such tokens is usually event-driven and may occur due to several reasons that depend on the specific blockchain protocol.

In conclusion, Stepnofficial’s unlocking of GMT tokens worth around 20.6 million US dollars is an interesting development in the world of cryptocurrency. The unlocking of tokens hints at the confidence of the owners in the token’s value and utility. The fact that some of these tokens have been transferred to Binance is a testament to the token’s liquidity and value. The exchange of GMT tokens may imply that several parties trust the value of cryptocurrencies and their inherent utility.

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