STEPN Price Prediction: GMT Hits New Levels Even in Bearish Market
STEPN is a new crypto token that utilizes the combination of NFT and real-world action to earn in its dual token system. The basics of this crypto world are bringing a virtually generated ecosystem to life by combining the same with real-life actions where the user walks, runs, and takes different actions. Users need to first purchase their shoes from their application that is available for both Android and IOS markets.
As of now, there are four different types of shoes a user can purchase with different attributes; these are Walkers, Joggers, Runner, and Trainers. The attributes mentioned in each segment of shoes need to be matched in a real-life scenario. Since excessive usage requires the repair of shoes in real life, they have added a scale of 100 points, and users will have to use their GST tokens to repair the shoes.
STEPN offers a dual token ecosystem, GST and GMT, where GMT has a maximum supply of 6 billion tokens. The recent spike in usage of its ecosystem has gained a huge market value for STEPN, putting it in the league of top-ranked cryptocurrencies with a value of USD 2 billion that is calculated on the in circulation GMT tokens which is just 10% of its total supply.
GST tokens, however, carry an unlimited supply. Users earn GST tokens, where one energy bar is generated for 5 minutes of movement. The developed application can identify moonwalking or using any other form of movement that doesn’t use muscles as it would defeat the entire health-oriented rewarding system developed by STEPN.
STEPN Price Prediction
A highly bullish crypto space has been created by this dual token crypto network. STEPN currently operates on Solana’s blockchain and would soon be adding the Binance Smart Chain to its fold.
The price trend of the GMT token of STEPN is quite an alternative to its volumetric transactions. At the starting days of its launch and public trades, the volumes were higher, but the value gained was smaller. As STEPN gained popularity and offered users a way to earn money by investing in virtual sneakers and token systems, it offered something no other crypto or blockchain ecosystem offered to date.
RSI has remained in the overbought zones indicating immense buying sentiment on GMT tokens. After surpassing the $1 resistance in the initial days, the GMT price zoomed past the nearby resistances with five consecutive days of upside movement. The 300% gains made between March 28, 2022, and April 01, 2022, helped multiply the holdings of initial buyers.
Following the bullish trend, STEPN (GMT) even entered small consolidation zones that loomed as a negative indication of profit booking possibility. But to one’s surprise, the price of GMT token went upside by 60% in just two days and has created a resistance zone between $3.5 and $3.85.
With transaction volumes dipping and still 90% of tokens remaining in supply, GMT can easily overcome near-term resistances with each swing. From previous price trends and buying sentiment, GMT is highly bullish in the short term.
