The founders of the Web3 wallet Gifto released 1.2 billion GFT tokens following Binance's announcement of the asset's delisting. This led to a 55% drop in the price of GFT over the last two days.

The new tokens were sent to several exchanges, increasing the trading volume from $8.6 million to $66 million in a day.

The project's market capitalization temporarily rose from $11 million to $20 million, but then decreased to $16 million.