Investor or Team Wallet of Stepn Official Unloads $GMT to Binance Amid Price Declines

A wallet associated with Stepn official (@Stepnofficial), identified as 0x8b3, has notably moved 14.34 million GMT tokens, valued at approximately $3.87 million, to Binance. This transaction took place approximately 14 hours ago. Since July 2023, the wallet has received a whopping 131 million GMT tokens from various unlocks. During periods of price declines, it has deposited 25.8 million GMT tokens on Centralized Exchanges (CEX) with an average price around $0.27, amounting to an estimated $6.93 million. Despite these recent transactions, the wallet still retains a significant balance of 104.5 million GMT tokens, equating to around $27.7 million at the current valuation. With these transactions, market watchers and GMT token holders will undoubtedly be observing the market impact closely.