Solana's STEPN hits record high as GMT price skyrockets 34,000% in over a month
Strong hype around move-to-earn tokens could offset the bearish technicals emerging for GMT. STEPN (GMT), a so-called "move-to-earn" token using the Solana (SOL) blockchain, has soared incredibly since its market debut in March.GMT's price jumped from $0.01 on March 9 to a record high of $3.45 on April 19 — a 34,000% upside move in just 41 days (data from Binance). Its massive uptrend appeared primarily due to the hype surrounding decentralized finance (DeFi) projects that reward users in tokens for staying active.For instance, the prices of GMT and its top rivals, including Genopets....
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Stepn (GST) is competing in the fitness industry using cryptocurrencies and the blockchain. Stepn is a smartphone software built on Solana and produced by app developer FindSatoshi Lab that allows users to earn money by jogging, running, or walking. Under the influence of this bearish market, however, the price of GST (Green Satoshi Tokens) has fallen below the $1 critical support level. The coin is currently trading at $0.18, representing a 97 percent decline from its all-time high of a little over $9 on April 28. To prevent the ecosystem from imploding, the coin must once again attract....
SOL price continues to climb, with Solana’s TVL also hitting a new high of nearly $14 billion. The price of Solana’s native SOL coin edged up on Oct. 25 in the wake of a marketwide rally led by Bitcoin (BTC), with the total value locked (TVL) on Solana hitting record highs and SOL’s price seeing a promising technical setup.Bitcoin triggers marketwide rallySOL climbed by more than 6% to hit an intraday high of around $214. The price of SOL is now up a little over 35% over the past week, pushing it closer to its record high of about $222 set in early September.Bitcoin’s run-up to its new....
Strong hype around the move-to-earn sector helps GMT price establish a new record high. The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange.The price of STEPN's governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date.GMT/USD four-hour price chart. Source: TradingViewSimilarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running....
GMT's downside pressure remains as an analyst calls STEPN a "hype-driven speculative frenzy." A massive downtrend in the STEPN (GMT) prices witnessed in the last 30 days appears to be nearing exhaustion.GMT's price has rebounded by nearly 35%—from $0.80 on May 27 to $0.99 on May 28. Interestingly, the upside retracement started after the price fell in the same range, which had acted as support before GMT's 500% and 120% price rallies in March and early May, respectively.GMT/USD daily price chart. Source: TradingViewAdditionally, the rebound further preceded an 80% drop from its record high....
In a move to comply with Chinese regulatory policies, Stepn will be blocking users based in mainland China from its mobile app. The nonfungible token (NFT) game Stepn will ban users in mainland China in an attempt to follow Chinese regulatory requirements.The company's uncertainty has been fueled by rumors that it will be forced to leave mainland China. STEPN is a popular "move-to-earn" game based on Solana and BNB Chain, created by two Chinese emigrants now living in Australia.On July 15, Stepn will clear all accounts based in mainland China for local compliance reasons. Before then, the....