What is GIFTO Crypto and why it pumped over 2600% overnight?

GIFTO is a blockchain-based web3 gifting platform. Its native token GTO has been listed on Binance since 2017.

GIFTO is a web3 oriented blockchain solution to store, earn and gift digital assets to your friends and loved ones. The digital assets can be NFTs in the form of e-cards, PFPs, generative art or red envelopes.

The project has partnered with top-tier blockchain projects and has already secured funding from multiple venture capital firms. GIFTO is expanding in 2023, introducing a new token and increasing its range of product offerings for users.

Its native GTO token will be swapped for new GFT tokens in a 1:1 ratio. GFT token is launched on the Binance Smart Chain (BNB) with circulation supply standing at 1 billion tokens, similar to GTO.

Users holding GTO can swap the tokens either from the official website or by visiting exchanges like Binance and OKX. The swap was enabled to extend the token utility for launching staking and charity initiatives.

The pump that pushed the price of GTO token from $0.04 to $1.04 within a day can be the result of the foreseeable potential of the GFT token which has broadened the use case of the platform.

The surge in price has also pushed the marketcap of the token from $30 million to $1.6 billion resulting in marking its entry into the list of top 50 coins according to market cap.

Its latest roadmap includes the launch of web3 wallet on its BNB chain, allowing users to store BNB, GFT and NFTs at the same time. GFT will be one of the few listed tokens on the BNB chain that will support charitable initiatives aiming to eradicate poverty and increase access to education.

With good financial support and a laid-out roadmap, Gifto crypto may see rise in value in the bull run but it all depends on how the project evolves this year.

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