GateToken has risen to popularity due to its phenomenal performance during the bull run of 2021. The cryptocurrency stands at a market rank of 159 currently. It essentially powers the Gate ecosystem. The cryptocurrency is near-identical in its working to BNB coin as it has similar offerings. The token powers an exchange Gate.io which is backed by the blockchain, GateChain. GateToken is the utility token of the crypto exchange and is used for daily operations on the exchange as well as any partner websites.
The GateToken ecosystem
Gate.io is one of the most popular cryptocurrency exchanges in the market. It is currently the ten largest exchange in the world with over $600 million trading volume. Gate.io provides the full suite of products of cryptocurrency exchange. From trading to liquidity mining, Gate.io has it all.
Both the exchange and the GateToken are backed by their native blockchain, the Gatechain. The Gatechain is considered to be a next generation public blockchain. It has a unique Vault Account which can be used as emergency clearing mechanism and also enables decentralized trading. The blockchain has been designed to handle abnormally high transactions per second to position it for becoming the top exchange one day. It also has a high level of security which ensures the safety and security of assets. Moreover, GateChain has also added cross-chain interoperability to its offerings.
GT Token price analysis
GateToken showed a phenomenal performance during the bull run of 2021. It established a new all-time high at $11.31 during the peak of the bull run which is even more commendable given that the cryptocurrency was operating below $1 before the bull run. GateToken has re-established its price level and had not fallen below $1 even during strong market corrections. At the time of writing, GT token stands at a price level of $4.05. The price of the cryptocurrency had fallen after a brief price rally but it appears to be picking up the momentum once again. GT Token’s price has surged upwards by 5% in the past twenty-four hours.
According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $ in a year’s time. The price is expected to sustain its upward trajectory over the years and break its ATH. GateToken Token is estimated to be trading at $ in five years’ time. Digital Coin Price suggests a price level of $ by the end of 2021 and $ by 2026.
