Gifto’s GFT Token’s 181% Rally Raises Questions About Market Maker Affect

• Gifto (GFT) skilled a large worth rally within the early hours of Friday’s buying and selling session.
• GFT’s bearish speculations adopted a delisting announcement by Binance.
• Binance introduced it will delist GFT and 4 different tokens from its platform.

GFT, the native cryptocurrency of the Gifto Web3 blockchain protocol, skilled a pointy worth rally throughout Friday’s buying and selling session. After hitting a every day low of $0.007070, GFT surged 181% to a excessive of $0.015191, in response to TradingView knowledge.

This stunning rally comes regardless of bearish market sentiment and exterior challenges that Gifto has confronted. Notably, GFT was one of many few cryptocurrencies that didn’t profit from Donald Trump’s election victory, as its worth remained comparatively stagnant with minimal volatility.

Binance Delisting Provides to GFT Strain

Throughout this era of worth stagnation, Binance introduced its choice to delist GFT from its platform. GFT joined different tokens, together with IRIS, KEY, OAX, and REN, as a part of Binance’s periodic analysis of its listed property.

Learn additionally: Delisting Drama: Binance Pulls the Plug On GFT, IRIS, KEY, OAX, REN

In a weblog put up, Binance acknowledged that these delistings align with its objective to take care of a excessive commonplace for its choices. This announcement fueled hypothesis of potential selloffs for affected cryptocurrencies, together with GFT, including to the bearish sentiment.

Market Makers Suspected in GFT Value Rally

Friday’s GFT worth surge shocked many merchants and analysts, a few of whom suspect Market Makers’ affect within the occasion. Nonetheless, the general projection stays bearish for GFT, as highlighted on Coincodex, a market knowledge evaluation and prediction platform. 

Coincodex knowledge initiatives a big decline for GFT subsequent month, which might see the worth drop to $0.007299 by December 29, 2024. Within the meantime, GFT traded for $0.013916 on the time of writing after recovering from a notable decline previously three days.