GT (GateToken) rose 2.49% in 24 hours

Gate News Bot news, July 8, according to CoinMarketCap, as of the time of writing, GT (GateToken) is currently priced at 15.56 USD, rising 2.49% in the last 24 hours, with a high of 16.15 USD and a low of 15.04 USD, and a 24-hour volume of 4.33 million USD. The current market capitalization is approximately 1.912 billion USD, an increase of 46.5 million USD compared to yesterday.

GateChain is an advanced blockchain network built for the future. It provides fast, secure, and reliable infrastructure that supports the seamless transfer of decentralized applications and digital assets. As an EVM-compatible Layer-1 blockchain, GateChain enables developers to quickly deploy and operate applications at nearly zero cost. With an average transaction cost of less than $0.002, GateChain lowers the entry barriers for users and promotes widespread adoption of blockchain technology. Its real-time block confirmation significantly enhances transaction efficiency, eliminates uncertainty, and prevents rollbacks. High scalability ensures stability during periods of high volume, supporting long-term growth and large-scale adoption.

Recent important news about GT:

1️⃣ Large-scale deflation plan continues to advance Gate exchange completed a new round of on-chain GT burn in Q2 2025, with a burn amount of 1,922,789.196841 GT, worth approximately $39.01 million. Since 2019, Gate has cumulatively burned over 180 million GT, with a total burn amount accounting for 60.18% of the initial issuance, and a cumulative burn value reaching $2.748 billion. This ongoing deflationary strategy effectively reduces the circulating supply of GT and enhances its scarcity.

2️⃣ New project launch drives GT demand Gate has recently announced the launch of multiple new projects on its platform, including Stella Armada ( SARM ), Tagger ( TAG ), Palio ( PAL ), and Echo ( ECHO ). The launch events of these projects have set exclusive airdrops for GT holders, such as a SARM airdrop of 2 million tokens and a TAG airdrop of 52.91 million tokens, incentivizing users to increase their GT holdings to participate in the airdrop activities.

3️⃣ GT investment yield increase Gate Yubibao has launched an additional reward program for GT token current financial management, increasing the FRAG token rewards on top of the existing earnings, raising the overall annualized yield to 15%. This move is expected to attract more investors to hold GT, thereby reducing the market circulation.

From a technical perspective, the GT price has recently shown a rise trend, with a 24-hour pump of 3.01%, currently priced at 15.498 USDT. On the fundamental side, Gate continues to launch innovative businesses and incentive measures, such as the dual activities in the xStocks section, with a total prize pool of 140,000 USDT, which is expected to further enhance platform activity and GT token demand.

This message does not constitute investment advice; investors should be aware of market volatility risks.