GateChain’s GT Token Breaks 13.329 USDT, Reaching New Historic High
In Brief
The GT token reached a peak of 13.329 USDT yesterday, driven by strong market momentum, marking a new all-time high.
Native token of GateChain‘s mainnet, a public blockchain developed by cryptocurrency exchange Gate.io, focused on on-chain asset security and decentralized trading, reached a peak of 13.329 USDT yesterday. This GT price surge occurred amid strong market momentum, marking a new all-time high for the token.
GT is designed to power the entire GateChain ecosystem. Leveraging its unique reversible trading mechanism, strong ecosystem support, and adaptable incentive structures, GT has seen increasing demand across various use cases. As the primary utility and gas fee payment token for GateChain, GT underpins the platform’s core transaction system. It is also widely used in spot trading, OTC trading, leveraged tokens, futures contracts, and derivative products such as leveraged wealth management, fiat lending, Earn products, and more.
GT differentiates itself from other tokens by focusing on user experience and community involvement. Initiatives like Startup investments allow GT holders to access investment opportunities with lower entry barriers. Additionally, GT holders are granted greater decision-making power, encouraging active participation in platform governance and driving collective progress. Since its launch in January, GT has outperformed many comparable tokens, achieving an impressive price increase of 160.87%.
GT holders benefit from a range of exclusive benefits, including access to airdrops for new coins from startups. The more GT tokens held, the larger the share of free airdrops. There are also dedicated mining pools for new tokens, offering multiple mining options with a single coin. GT holders can also take advantage of a secure, user-friendly staking solution for passive income generation. The average yield at launch was 8.1%, with the current annualized return standing at 7.15%. Other benefits include enhanced access to Startup subscription shares, discounts on spot and contract trading fees, and access to exclusive welfare activities, as well as a wider range of application scenarios.
GT Token’s Burn Mechanism Drives Value Growth And Market Performance
In addition to its broad range of use cases, the ongoing burn mechanism has been instrumental in increasing GT’s intrinsic value. Since 2019, regular token burns have reduced the total supply of GT by approximately 58.06%, from its initial 300 million tokens. Over the past three years, GT has conducted quarterly burns totaling 31,338,915.10 tokens, valued at around $189,839,265.347. This strategy has effectively lowered the circulating supply to below 100 million GT, achieving the initial target, with plans to continue these burns moving forward.
GT’s record-breaking price highlights its strong market performance and suggests continued innovation and potential value growth within the Gate.io ecosystem. As the GT ecosystem develops and the burn mechanism persists, GT is positioned to remain a leader in the industry, offering greater opportunities for its holders.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
