STEPN (GMT): Why has this crypto risen over 20,000% in 45 days?

It looked like it was the performance of a shitcoin; STEPN (GMT) saw its value to times by 300 in 45 days. Which therefore makes the project the best cryptocurrency in early 2022. Between an innovative concept and a listing on Binance, a look back at the elements that fueled STEPN’s strong progress.

During 2021, a concept will have characterized the entire crypto industry: “play-to-earn”. It is truly the solution provided by a set of projects that allow users to make money while playing a variety of games. The main crypto-popularizer of this new concept is Axie Infinity, whose price was achieved 1000 times in 2021.

This year, a project called STEPN (GMT), developed by Find Satoshi lab, an Australian company, stands as the flagship of a new concept that should prove to be as disruptive as “play-to-earn”. This time, we’re actually talking about the “move-to-earn,” the solution that allows you to make money while you go.

STEPN: an innovative project

STEPN is developed on the Solana blockchain and is a leader in the category of “move-to-earn” projects, a concept that mixes Game-Fi and Social-Fi. It is therefore a web3 “lifestyle” application available on the AppStore and Play Store, which promotes a healthy everyday life.

STEPN offers a gaming framework through which users make money by jogging, running and mainly walking. To play and collect rewards, players must purchase NFT sneakers, virtual sports shoes that are exchanged for SOL, at various prices on the STEPN platform.

The player uses his NFT sneakers to perform physical activities that allow him to earn points and GMT and GST tokens. These are used to upgrade virtual sneakers and purchase other virtual items on the STEPN app. Users who own NFT basketballs can also rent them to others on the platform. As a reward, they receive a portion of the points earned by the borrower.

STEPN includes a dual token system: GMT and GST. Green Satoshi Token (GST) is a tool token obtained by simple movements. It is available in unlimited quantities. Players use GSTs to upgrade and repair their NFT sneakers

As for Green Satoshi Metaverse (GMT), it is more of a governance token obtained by participating in gaming activities and walking around. Unlike GST, GMT has a total offering of 6 billion tokens. Its holders can use it to upgrade to higher levels and also exchange it for USDC.

Binance boosted

Like many other promising capital and finance projects, STEPN (GMT) was listed by Binance Launchpad to be listed on March 9 at a price of $ 0.01. In less than 21 days after its listing on the stock exchange, GMT saw its price multiply by 100, rising to $ 1.

The cryptocurrency maintained its uptrend until it reached a starting high of $ 3. STEPN (GMT) will make the most of April in the $ 2.10 to $ 2.50 range. But for almost two days, the “move-to-earn” protocol has returned to the $ 3 mark. It even took the opportunity to sign a new ATH for $ 3.80 on the day of April 22, though it will eventually drop to $ 3.10 as of this writing.

What future for STEPN?

We will not be the first to acknowledge the innovative scope of the STEPN project. Succeeding at combining GameFi with SocialFi is pretty ingenious. Some observers believe it could repeat the same performance that Axie Infinity had for its play-to-earn project.

On the technical analysis side, experts fear that the asset is “overbought” after this long rally within 45 days. In any case, the RSI in weekly GMT data stands at 67.32. Thus, the crypto is within three points of the level indicating the overbought trend. By observing the RSI curve for GMT, we note that it has never fallen below 60.

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