Gate token has seen an optimistic trajectory in 2024, with new milestones being achieved this year. According to Gate.io’s official announcement published earlier today, $GT token has surged over 246.5% in 2024. The token has also hit an all time high level of $17.699 in the year, however it is now trading at $15.77.
$GT’s Surge and Milestones Come As Gate.io Sees Growth in 2024
The $GT token’s surge in value comes as Gate.io has seen a rise in userbase and optimism among investors. New developments for the platform, such as partnerships and advancements, have been crucial for the surge in userbase.
For example, previously, the Japanese cryptocurrency service provider Coin Master saw all its issued shares acquired by cryptocurrency exchange Gate.io. Gate.io had previously left the Japanese market, claiming that the acquisition would guarantee regulatory compliance.
The move cemented the platform’s position among investors, giving a hint that the platform is aggressively undertaking expansion policies.
Additionally, the platform had previously reached a new milestone with its user base. There are currently more than 20 million Gate.io users globally, making it stand neck t neck with market peers.
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Furthermore, according to Fortune’s list of the top 60 Asian financial technology pioneers, the platform is among the top 10 “Blockchain and Cryptocurrency” companies.
This achievement marks a significant turning point for the eleven-year-old company and showcases its innovative usage of Bitcoin services and blockchain technology.
$GT Token: Will It Rise in 2025 Also?
The trajectory for $GT has been bullish for most of 2024. At present, the sentiment for the token is bullish and the Fear & Greed Index is currently at 74 (Greed).
Over the past 30 days, Gate Token has experienced 8.34% price volatility and 18/30 (60%) green days. With 28 technical analysis indicators indicating optimistic signals and three indicating negative signals, the overall sentiment for the Gate Token price prediction is bullish.
If this sentiment prevails for 2025, it is likely that $GT will rise in the coming year. In the same tone, Gate Token’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $10.01. The same duration of time will likely witness the short-term 50-day SMA for Gate Token reaching $14.23.
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. As of right now, the GT market is overbought, according to the RSI reading of 76.07.
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