The address that previously transferred a large amount of GMT was the Binance PGMT liquidity pool, which was locked due to the Alpha Draw activity.

According to TechFlow, on-chain analyst @ai_9684xtpa updated that the previous large-scale circulation was due to the Alpha Draw staking lottery initiated by STEPNGO. Currently, 28.48 million GMT have been locked on the chain, and the GMT for the lottery will be unlocked on April 19, 2028.

According to previous news, the address that received $10.23 million in GMT was transferred to a suspected Binance recharge address.