- In the last seven days, Gate Crypto has lost its value by 7.5%.
- As per CoinCodex, the volatility of the GT crypto is 3.45%, which is considered medium.
GateToken is a utility token for the Gate.io exchange platform. It follows the ERC-20 standard and enables cross-chain interoperability. It offers benefits such as lower fees, access to IEOs, and point mining rewards.
The GateToken crypto was launched on April 21, 2019 and the volume/market cap ratio of the crypto is 0.0018. Additionally, the supply inflation of the crypto is -8.43%, which is considered low as the circulating supply of the crypto is 33% of max supply.
The market cap of GateToken has declined by 1.29% in the last 24 hours, resulting in a value of $444.35 Million. Additionally, the trading volume of the crypto has also declined by 37.3% and the volume ranking of the crypto is #836.
As per CoinCodex, the fear and greed index of the crypto is neutral. The market cap dominance of the crypto is just 0.03% in the global cryptocurrency market.
Gatecoin Token Overview
Source: Coinglass
The circulating supply of GateToken is 9.142 Million GT while the total supply is 300.0 Million GT which is the same as the max supply. The circulating supply market cap of the crypto is $613.26 Million while the fully diluted market cap of the crypto is $1.353 Billion.
GT Crypto Technical Analysis
Looking at the bigger picture, the price of the GT crypto is trading inside a rising wedge and the price is currently following a declining momentum. This behavior of the price has led to the formation of bearish candles on the weekly timeframe.
If the price of the crypto rebounds and witnesses buying pressure, it can result in a breakout above the rising wedge pattern. This breakout of the price can lead the crypto to higher levels.
GT/USD Chart by TradingView
The 20-day and the 50-day period moving averages have formed a bearish cross on the chart while the price of the crypto is still trading above the 200-day EMA. The price of the crypto has declined below the 20 and 50-day EMAs.
The MACD and the signal lines have declined below the zero level and are forming a bearish cross. It also forms bearish histograms on the chart, indicating the presence of sellers.
The RSI is also pointing to bearish momentum and resides at a level of 29.40, which represents strong bearishness in the crypto price.
Summary
GT is a utility token for the Gate.io exchange platform that has lost value and momentum in the past few weeks. The crypto is trading inside a rising wedge pattern, which is a bearish pattern that could lead to a breakdown. The technical indicators also show a lack of buyer interest and a strong selling pressure.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.