Binance Labs, the venture capital and incubation arm of the world's largest cryptocurrency exchange Binance, transferred its altcoin called GMT.
On-chain analyst EmberCN reported that Binance Labs moved its last 30 million GMT (worth around $7.29 million) to Binance around 40 minutes ago.
Binance Labs, which made a strategic investment in GMT, acquired 75 million GMT through token unlocks.
“Binance Labs transferred the last 30 million GMT ($7.29 million) to Binance.
Binance Labs is the investment affiliate of GMT and has received a total of 75 million GMT through vesting and unlocking.
All 75 million GMT ($16.05 million) were deposited into Binance at an average price of $0.214.”
It continues to trade at $0.24 GMT, down 2.8% in the last 24 hours.
*This is not investment advice.