Crypto exchange Gate.io has surpassed another milestone. According to the official announcement on December 16th, the number of Gate.io users worldwide has topped 20 million.
The main reason behind the platform’s popularity is its strength as a good option for people who are interested in copy trading, bots, and a large variety of altcoins.
The news likely helped the native token $GT to reverse courses and trade in a green territory. At the press time, the coin is trading at $13.47, up 0.32% as compared to the same time last day.
Gate.io Hack Rumors: What Had Happened?
The new milestone for the platform comes just a couple of days after it had faced alleged rumors on a data breach. After much conjecture on social media and messaging apps, Gate.io publicly denied rumors of a security breach.
The platform was allegedly compromised, according to the rumors that surfaced early Friday on X (Twitter) and several Telegram groups. Gate.io, however, reacted promptly and assured users that no security flaws had been found.
The platform claimed that neither the Gate.io security team nor any security agencies had reported any anomalies. Trading, withdrawals, and deposits are all operating as they should. Do not trust rumors, please!
In order to ensure that users can trade with confidence, the platform stressed that it maintains 100% reserve funds, with the most recent reserves exceeding $10 billion. Gate.io’s prompt action was intended to allay worries and preserve user confidence.
$GT Technical Indicators Show Positive Turn For Coin
The native token of the platform, $GT took a green trading trajectory after the news of the growing userbase landed. According to current technical indicators, the Fear & Greed Index for the coin currently at 83 (Extreme Greed), while the sentiment is bullish.
During the past 30 days, GateToken has experienced 10.32% price volatility and 19/30 (63%) green days. With a mjority of green trading in the past 30 days, parameters indicate that the overall sentiment for GateToken price prediction is bullish, with 30 technical analysis indicators indicating bullish signals and two indicating bearish signals.
f the current optimism does continue, GateToken’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $9.36 by January 15, 2025.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. The GT market is in a neutral position at the moment, as indicated by the RSI value of 69.90.