GateToken (GT) is trading around $9.50 this morning, down about 1% over the last 24 hours, after touching a $9.42 low in a cautious market.
There is no fresh GT-specific headline behind the dip: the wider market is still digesting last week's $6.3 billion hack at Binance, whose withdrawals reopened on 2 November with $3.64 billion in net outflows, and GT is easing with that risk-off mood.
GT's market value sits around $1.0 billion, down roughly 1-2% over the past week, and its quarterly burn programme has now removed about 64% of its original 300 million supply, the latest quarterly burn on 5 October destroying about 1.99 million GT.
To watch: today's US midterm elections and whether withdrawal flows settle — $9.42 is the near-term floor to hold, with $9.80 the level to reclaim.
#GT
There is no fresh GT-specific headline behind the dip: the wider market is still digesting last week's $6.3 billion hack at Binance, whose withdrawals reopened on 2 November with $3.64 billion in net outflows, and GT is easing with that risk-off mood.
GT's market value sits around $1.0 billion, down roughly 1-2% over the past week, and its quarterly burn programme has now removed about 64% of its original 300 million supply, the latest quarterly burn on 5 October destroying about 1.99 million GT.
To watch: today's US midterm elections and whether withdrawal flows settle — $9.42 is the near-term floor to hold, with $9.80 the level to reclaim.
#GT
