Gifto token surges over 300% following rebrand, token swap Gifto token surges over 300% following rebrand, token swap
GFT has spiked to $0.04 from $0.04 in the last 24 hours and recorded a 370% increase over the last 7 days, according to CryptoSlate data.
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Updated: Feb. 8, 2023 at 1:58 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Gifto’s native token GFT is up over 370% in the past week following its move to rebrand and swap its token from ERC-20 GTO to the BEP-20 GFT.
From GTO to GFT
Gifto launched in 2017 with GTO as its native token. However, as part of its rebranding efforts in 2023, it created the GFT token.
The virtual-gifting platform seems to have resurrected in 2023 following a $2.5 million investment from Poolz Ventures.
The investment deal will see Gifto advance its product offering, with additional marketing support from Poolz.
Gifto said that in order to support its new suite of products, it needed to recreate its native token. Consequently, it announced the token swap from Ethereum-based GTO to its BNB alternative GFT.
The new GFT token will support Gifto’s staking and charity program. Gifto will allocate about 0.5% of its annual inflation tokens for donations via Binance Charity.
Relisting
Leading exchanges, including Binance and Bitget, had supported Gifto’s move to swap all GTO to GFT tokens on a 1:1 basis.
Binance and Bitget announced on Feb. 8 that their platform would no longer support GTO tokens; however, deposits and withdrawals for GFT tokens are open.
Similarly, MXC said that it would list the GFT/USDT trading pair in the innovation zone effective Feb. 8.
Following the listing announcements, Gifto’s new token GFT spiked to $0.04 from $0.04 in the last 24 hours and recorded a 370% increase over the last 7 days, according to CryptoSlate data.
GFT is currently trading above $0.14 and has reached over $125 million in trading volume on Binance.
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Posted In: Price Watch, Trading
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Gifto
$0.00166
Gifto is a Web3 blockchain solution launched in 2017 to create, store, and gift blockchain presents to friends and loved ones such as NFTs in the form of e-cards, PFPs, generative art or red envelopes..
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
MEXC Global
MEXC Global is a centralized crypto exchange with vast crypto-related services.