An under-the-radar altcoin targeted on blockchain gifting has ripped 268% this week amid exchanges saying their help for its token rebranding.
Gifto (GFT) is a Web3 blockchain undertaking targeted on enabling the creation, storage and gifting of on-chain presents like non-fungible tokens (NFTs).
Its newly rebranded native token, GFT, has skyrocketed, with the 229th-ranked crypto asset by market cap buying and selling at $0.1398 at time of writing.
This week’s value explosion occurred as high crypto change Binance introduced it will help Gifto’s ongoing token swap.
“We’re pleased to announce that Binance has relisted GFT having supported GTO swap to GTF!”
In January, the Web3 undertaking introduced it will swap out its previous token, GTO, for its new GTF token constructed on the BNB Chain.
Explains Gifto,
“The GFT token helps to streamline the dual-token construction (ERC20 and BEP2), simplifying the present blockchain mannequin, by migrating to the BNB Chain, which presents fairly low charges and optimized effectivity for gifting.”
Binance wasn’t the one change to increase its help for the token swap. OKX, Bitget and Gate.io all introduced help for and/or accomplished the migration this week.
Gifto additionally introduced on Wednesday that it had surpassed $120 million in 24-hour buying and selling quantity on Binance.
“GFT has surpassed 120M quantity on Binance! Stable undertaking’s options at all times mirror in its worth.”
Regardless of GFT’s huge good points this week, the token nonetheless stays greater than 85% down from GTO’s all-time excessive of $0.964, which it hit all the way in which again in early 2018, in response to CoinGecko.
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