STEPN (GMT) on Coinmarketcap
Every at times an altcoin comes alongside that goes up and up and reveals no signal of slowing down.
In late 2021 that was Shiba Inu, which remains to be trending on occasion on Coinmarketcap.com, presently the #2 trending coin on the coin worth monitoring website.
The prime trending coin proper now in Q2 2022, presently going viral, is STEPN (GMT).
What is Green Metaverse Token?
GMT, Green Metaverse Token, is the governance coin of the STEPN app, which runners and joggers – even walkers – can use to earn crypto whereas exercising, within the type of GMT and GST (Green Satoshi Token). The extra they train, the extra they earn.
It’s a enjoyable, novel and attention-grabbing use case and the STEPN app arguably has extra lasting enchantment and utility than meme coin Shiba Inu (SHIB) does.
The GMT worth has been exploding because the variety of customers of the STEPN app has been rising – downloading it and minting sneaker NFTs, their ticket to play the sport and begin incomes income.
STEPN is now the #29 app on the App Store within the Health & Fitness class.
GMT Price Prediction 2022
GMT worth chart through Coingecko
GMT is probably extra akin to being the subsequent Axie Infinity quite than the subsequent Shiba Inu. That play to earn (P2E) crypto recreation’s native token AXS went on a bull run from $0.10 to $166.09 on Binance – a 1661x run in 12 months.
GMT coin launched at $0.01 in March and immediately hit a brand new all-time excessive of $3.83 on Binance – a 383x run up to now for the ‘move to earn’ governance token.
The GMT worth is presently buying and selling at round $3.50, up roughly 100% up to now in April.
GMT is but to be listed on Coinbase and will proceed to go up in 2022 till it’s listed – standard new altcoins are inclined to pump in anticipation of being listed on the most important crypto platform within the US.
As famous within the beneath GMT worth prediction video Bitcoin is again above $41,000 and lots of altcoins are rallying as investor confidence will increase for extra risk-on property.
Fears that Bitcoin could crash to the 20k stage appear to have handed, leading to a mini ‘altcoin season’. On-chain information means that long-term holders of Bitcoin will not be promoting, and actually whales are persevering with to purchase and accumulate BTC, both on crypto exchanges or OTC (over-the-counter).
The worry and greed index was in excessive worry as Bitcoin briefly depraved right down to $38,400 on April 18th and the RSI reached oversold ranges. However that ‘fake out’ transfer to the draw back was instantly purchased again up by patrons.
When Bitcoin goes up, the whole crypto market cap and most altcoin costs observe.
On April nineteenth the GMT worth put in a brand new ATH, flipping resistance ranges into new help. As that crypto Youtuber notes throughout his technical evaluation (TA), $3.83 was the 1.618 Fibonacci extension and his worth goal within the bullish case.
That proved to be an correct GMT worth prediction within the short-term.
In the long-term, the GMT marketcap remains to be solely presently $2.1 billion, and it hasn’t damaged into the highest 50 cash – GMT is presently ranked #54 on Coinmarketcap.
Shiba Inu hit a market capitalization of over $40 billion at its peak (now $13 billion), and remains to be the #15 largest coin. If GMT can flip Shiba Inu from right here, that might be a couple of 7x improve in valuation – making the GMT worth over $20.
If Green Metaverse Token can attain the best marketcap SHIB had, that might be a 20x acquire – placing probably the most optimistic GMT worth goal at round $70.
The GMT complete provide is decrease than that of Shiba Inu – 6 billion cash in comparison with 549,063,278,876,302 for SHIB.
GMT cash even have an in-built burn mechanism to cut back the circulating provide over time.
In the medium time period, GMT might flip AXS which is the #44 ranked coin now that the Axie Infinity hype has died down – with a market cap 33% increased than GMT coin immediately, $2.8 billion. That would put the value of GMT at nearly $5.
As properly as Binance, GMT has been listed on Bybit, with each a spot buying and selling and perpetual futures pair to margin commerce GMT with leverage. Bybit trade has a excessive buying and selling quantity which might assist the GMT asset develop in worth.
Binance Labs Investing in GMT
One of probably the most constructive indicators for a continued GMT bull run is the line-up of enterprise capital (VC) buyers within the STEPN challenge:
- Binance Labs
- Alameda Research
- Sequoia Capital
- Folius Ventures
- Solana Ventures
- sixth Man Ventures
Co-founder of the STEPN app Yawn Rong commented:
‘Even though we have grown 100x in the last few months, this is only the start of our journey. We have many exciting things in our roadmap such as multi-chain support, brand partnerships and new GMT use cases with many exciting projects. Watch this space!’
His accomplice Jerry Huang added:
Our group is the mainstay of our progress and seeing them rewarded is our greatest motivation. Currently, a brand new participant can earn good returns by strolling / operating even for 10 minutes, and a savvy participant can earn not solely good-looking token returns however different NFT rewards every single day!
In Q3 2022 based on the whitepaper STEPN will introduce a sneaker NFT rental system in order that customers can use the app with out having to purchase sneakers themselves – that may take away the difficulty of the costly flooring worth of the sneakers and permit extra customers to be onboarded.
Note – Green Metaverse Token is to not be confused with GMT Token, which additionally has the ticker GMT.
Cryptoassets are a extremely risky unregulated funding product.
Author: Michael Abetz
Michael has been investing in cryptocurrency for the reason that 2017 bull run, and is a contract author producing academic materials on decentralized finance matters on-line.… View full profile ›