GateToken (GT), the native token of GateChain created by Gate.io, has entered the top 100 cryptocurrencies list as its market cap exceeded $1 billion.
In the last 24 hours, GT has surged by 28.3% and is currently trading at $11, a level not seen since May 2021. The market cap of the asset stands at $1.05 billion, ranking it as the 96th largest cryptocurrency.
Additionally, GateToken’s daily trading volume has experienced a significant 180% increase, reaching $50 million.
Data from Santiment reveals that the number of unique GT holders has reached 3,427 addresses, surpassing the 3,000 wallet milestone for the first time since November 2022.
On the flip side, market intelligence platform data indicates that GateToken’s Relative Strength Index (RSI) has risen from 70 to 75 within the last 24 hours. This suggests that the asset may be overbought, potentially leading to profit-taking by large investors due to the relatively low number of holders.
In order for GT to maintain its bullish momentum, its RSI would need to retreat below the 50 level.
According to CoinMarketCap (CMC) data, Gate.io has seen a slight uptick in its daily trading volume, approaching $3 billion. The exchange’s total assets are currently valued at $5.27 billion. Remarkably, GT accounts for a significant portion of the exchange’s assets, holding a 20% stake valued at $1.05 billion.
Bitcoin (BTC) holds the second-largest position in Gate.io’s portfolio, with a value of $1.04 billion.
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