GateToken Rides Broad Crypto Rally

GateToken (GT) saw its price rise by 6.2% in recent trading, largely due to a broader rally across the cryptocurrency market.

This increase mirrors the overall market's positive trend, with Bitcoin reaching around $81,000 and most major altcoins showing gains.

The total crypto market cap grew by about 4.7%, from $2.63 trillion to $2.76 trillion, while the altcoin market cap increased by approximately 4.3%, from $1.09 trillion to $1.13 trillion.

The SEC's approval of a five-year 'innovation exemption' for tokenized stocks has contributed to this surge, allowing certain venues to trade fully backed tokenized US stocks on public blockchains without registering as national securities exchanges.