In 2013, the cryptocurrency exchange Gate.io was founded. It offers services connected to the trading of different digital assets and is among the world’s first exchanges. It is renowned for being a trustworthy and safe worldwide cryptocurrency platform with over 10 million registered users.
Gate.io is consistently ranked among the top 10 cryptocurrency exchanges for liquidity and trading volume on CoinGecko.
Gate.io gets a rating from Forbes Advisor
After a thorough examination, Gate.io was given a 4.8 grade by Forbes Advisor and examined in the Blockchain Transparency Institute’s (BTI) market surveillance report. It is among the top cryptocurrency exchanges thanks to these accomplishments.
Outside of its controlled cryptocurrency exchange, Gate.io provides a wide range of services, such as decentralized finance, labs, venture capital financing, research and analytics, wallet services, and more. It offers among the broadest selections of cryptocurrency assets as well.
Initially, it was believed that deposits and withdrawals of MULTI were stuck due to a poorly executed system update that took longer than usual. However, rumors that the dev team had been arrested in Shanghai started to spread shortly after.
Rumors & Statements about Gate.io
Although these speculations remain unconfirmed, the Multichain team has confirmed that the CEO has gone missing. It has left the developers without the access required to perform server maintenance, which could explain the downtime.
In response to these rumors, Gate.io released a statement, which Bloomberg saw, denying their involvement and clarifying what they have been doing lately.
According to a Gate.io spokesperson, the platform’s employees are occupied with the 10th anniversary of the platform they run and with the paperwork, most notably a Virtual Asset Service Provider (VASP) license, necessary for the launch of their new Hong Kong trading platform called Gate. HK.
The spokesperson also teased upcoming “user campaigns” to celebrate the platform’s 10th birthday and other upcoming features for the Gate community.
Technical Analysis & Prediction of the GT Coin Price
In 2022, the GateToken (GT) crypto outperformed the crypto market. Although its price declined throughout the year, it still managed to evade the worst of the bear market.
Between April and June 2023, 1.6 million GTs were destroyed or burned, but the price has not kept up in the way that the platform’s bosses had anticipated.
The present technical analysis states that the GT coin bulls have taken control. However, the bears are strong on the resistance level of $5.47 while the bullish investors are taking support at $4.67.
Conclusion
Gate.io received a 4.8 rating from Forbes Advisor and was scrutinized by the Blockchain Transparency Institute’s market surveillance report. In 2022, the GateChain blockchain’s GateToken (GT) outperformed the crypto market despite a price decline.
Technical Levels
- Support Levels: $4.67 and $4.20
- Resistance Levels: $5.47 and $5.85
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/12/26/gt-coin-price-analysis-forbes-rates-crypto-on-the-uptrend/