GMT Crypto gains +50% in 24 hours!
Recently launched via the Binance platform, the Stepn project and its native token GMT explodes today. Over the past 24 hours, the token has shown a crazy increase of more than 50%.
Launched to much fanfare on the Binance platform Stepn’s NFT Project aims to reward users who move. But for that, you still have to buy a pair of shoes in the form of an NFT!
Focus On The Stepn Project
A few days ago, the Stepn project was launched via the Binance Launchpad. Stepn is a crypto project that uses the principle of “Play to Earn” type games. Stepn’s concept is to reward app users for moving.
Whether walking or running. By moving, users can accumulate GST tokens, which can be used in particular to purchase NFTs for your avatar. For this reason, project promoters prefer the term “Move to Earn.” But the concept remains the same. The Stepn ecosystem is based on a two-token protocol: GMT tokens and GST tokens.
The solution revolves around a marketplace through which it is possible to buy shoes. For this, it will be necessary to spend SOL tokens. With these shoes, the player will be able to accumulate kilometers in real life which will allow him to be rewarded in GST. Thanks to the tokens earned by moving, you will be able to buy new NFTs on the application. Note that the shoes each have a certain form of rarity. Thus, you can find “Common”, “Uncommon”, “Rare”, “Epic” or even “Legendary” shoes. The rarity acts as a kind of win multiplier.
This Stepn application, both accessible from the App Store and Google Play, also has a marketplace on which to resell NFTs. New functionalities should soon see the light of day, such as the possibility of renting a pair of shoes. The Stepn project is therefore based on a complete application that also includes a wallet to store your tokens. Note that the business model of the application is based in particular on the commissions charged when selling NFTs. In many respects, this application reminds us of the Sorare platform which offers the purchase of football players in the form of NFT.
The Price Of GMT And GST Tokens
The following chart shows the price of GMT since it became available on the Coinmarketcap platform:
In just over a week, the asset has seen its price quadruple! On March 9, after listing via Binance, the first known price was $0.15. On the days of the 11th and 12th, the price stagnated for a while before experiencing the first rise. Within 48 hours, the GMT token went from $0.15 to $0.45. Before experiencing a correction phase that lasted for two sessions. Since yesterday, the token seems to be picked up again by reaching its ATH (All-Time High) a few hours ago. One of the tokens traded for $0.71. As of this writing, the GMT token is trading for $0.656.
The GST reward token has also seen a strong rise since listing. As shown in the graph below, which shows the price of the asset since December 22:
Listed at $1.80, the GST token has experienced an upward trend over the past three months. Contrary to the downward trend that is hitting the entire crypto market, like the price of Bitcoin, which for its part has fallen by 14% since the start of the year, or the price of Ethereum, which shows – 25% over the same period. At the time of writing, one GST token is trading for $3.42. In three months, the asset has therefore almost seen its price double.
What About Longer-Term Forecasts?
Predicting the future price of an asset is often perilous. A fortiori in a market as volatile and competitive as that of cryptocurrencies. Additionally, Stepn remains a very recent project, making prediction even more difficult.
If we look at the platforms and their algorithms, it is clear that the observed trend is bullish.
DigitalCoinPrice estimates that the token could approach the $1 mark by the end of 2022. On the side of TradingBeasts, the prediction seems even more optimistic. Within 9 months, the token could move in a price range between $1.40 and $2.06.
In 2025, TradingBeasts algorithms estimate that the token could cross the $3 mark. Of course, these estimates should be just what it is, estimates, as nothing is guaranteed for all the reasons mentioned above.