š $GTC just got a new door on Binance ā and 24h volume is already near $9.5M
Picture the screen right now: $GTC at about $0.228, up roughly 17% in a day, with around $9.5M changing hands in 24 hours.
Here's the thing ā nothing about the coin changed. It's been trading for over five years (about 1,970 days), and until now it only lived on a couple of other places, where daily trading was around $1M. What changed is the door. Binance users can now buy it without moving money elsewhere, and a fresh pool of buyers showing up can push volume well past what the coin was used to.
Volume nearly tenfold on the old venues' numbers is the access effect at work. The 17% jump fits that story, but a rush of first-time buyers can fade as fast as it arrives. What to watch next: whether volume stays well above that old $1M level over the coming days. If it does, the new buyers are sticking around.
$GTC
Picture the screen right now: $GTC at about $0.228, up roughly 17% in a day, with around $9.5M changing hands in 24 hours.
Here's the thing ā nothing about the coin changed. It's been trading for over five years (about 1,970 days), and until now it only lived on a couple of other places, where daily trading was around $1M. What changed is the door. Binance users can now buy it without moving money elsewhere, and a fresh pool of buyers showing up can push volume well past what the coin was used to.
Volume nearly tenfold on the old venues' numbers is the access effect at work. The 17% jump fits that story, but a rush of first-time buyers can fade as fast as it arrives. What to watch next: whether volume stays well above that old $1M level over the coming days. If it does, the new buyers are sticking around.
$GTC