Arslan Butt
The price of STEPN has fallen by 18% and is currently trading at $0.37. This recent drop in value could be concerning for investors, but there may be alternative options for those looking to earn a return on their investment.
STEPN Collaborates with HypeSaints to Release Limited Edition Merchandise, NFTs, and Sneakers
On February 20, STEPN announced a partnership with HypeSaints to release a collection of limited-edition merchandise, NFTs, and sneakers. The STEPN x HypeSaints event will run until March 12, featuring weekly rounds of new items.
HypeSaints is a company that won the inaugural season of MOOAR Launchpad in December 2021. The NFT series is based on the concepts of Non-Fungible Stories (NFS) and On-chain Story Development.
STEPN Introduces New Horizon Initiative
On February 19, STEPN announced the introduction of the New Horizon Initiative, which included a $GMT airdrop for Genesis holders. The platform will continue to distribute Genesis sneakers at its events and through competitions on social media. STEPN Genesis Sneakers are the scarcest NFT sneakers in the app and come with several benefits, such as free MOOAR membership and cross-realm OG Sneaker airdrop.
The STEPN New Horizon Initiative represents the dedication to allowing devoted users for the expected GMT use cases. Therefore, it will benefit the price of the token.
Impact of Rising Inflation on the Cryptocurrency Market
On February 24, the Bureau of Economic Analysis (BEA) of the Department of Commerce reported that the personal consumption expenditures (PCE) price index increased by 0.6% from December to January. Additionally, the PCE Price Index rose by 5.4% over the same period.
The PCE price index tracks the prices that Americans spend on goods and services. Due to the rising inflation, the majority of the market believes that the Federal Reserve will continue to increase interest rates.
In January, the personal consumption expenditures (PCE) price index—a measure of U.S. inflation—was up 5.4% from a year earlier. The core PCE index, which excludes food and energy costs, posted a year-over-year increase of 4.7% https://t.co/v513XyyDb6 pic.twitter.com/ZJzB5AW8ba
— St. Louis Fed (@stlouisfed) February 25, 2023
In addition, the PCE Price Index report revealed that the disinflation trend reversed in January, increasing the likelihood of the US Federal Reserve increasing its benchmark fed funds rate by 50 basis points in March.
Rising inflation has caused the US currency to strengthen, US rates to rise, and US markets to experience increased selling pressure, which is all negative for the risk-sensitive crypto asset class. As a result, the value of GMT/USD is declining.
STEPN Price
On February 26, GMT/USD opened at a trading price of $0.3715. However, in the past 24 hours, it has suffered a decline of 1.38%, and as of now, it is currently trading at $0.3712. Over the course of the day, GMT/USD has varied between its highest point of $0.3750 and its lowest value of $0.3669. Unfortunately, the value of GMT/USD has experienced a significant drop of over 20% in the past week.
GMT/USD Price Chart – Source: Tradingview
In technical analysis, GMT is currently facing an immediate resistance level at $0.3845, and if the candles close below this level, it may indicate a continuation of the selling trend.
On the downside, GMT’s immediate support level is at $0.3450, and if the price breaks below this level, it could potentially expose the coin to the next support level at $0.3350.
STEPN Alternative
FGHT and STEPN are both cryptocurrencies that have gained popularity in the market. Both FGHT and STEPN are based on the Ethereum blockchain, and their primary focus is to provide utility and benefits to their users. Additionally, both cryptocurrencies are used for payments, trading, and investing purposes.
Despite their similarities, FGHT and STEPN have distinct features and functions that differentiate them from each other, and they operate within different market segments. Let’s take a deeper look.
Fight Out (FGHT)
Fight Out is a move-to-earn (M2E) platform that takes an incentive-based approach to the health and fitness industry. The platform aims to inspire people to adopt a holistic approach to fitness by providing rewards to users as they make progress.
The move-to-earn platform integrates virtual gym chains and operates on the metaverse, giving users the opportunity to create an online presence and access exclusive lifestyle content. Moreover, users can participate in elite master classes to assist them in reaching their fitness objectives, including body exercises and weightlifting.
13 years ago today, Satoshi Nakamoto unveiled the iconic #Bitcoin logo. Since then, the world of #Cryptocurrency has exploded
Join us as we continue to push the boundaries of #Blockchain and build a brighter future for all.
https://t.co/tIdxBuXB0f#Presale #Crypto #Web3
— Fight Out (@FightOut_) February 24, 2023
The FGHT token, which is native to the Fight Out platform, is used for processing subscription payments within the ecosystem. Moreover, the token offers various perks such as discounts, exclusive content, and more to the users.
Fight Out’s presale has raised $4.75 million for its digital asset. The developers have introduced a referral program that allows investors to earn a 5% discount on each purchase.
Related
- GMT Price Prediction – Is The STEPN Air Drop Impact Running Out of Steam?
- STEPN GMT Price Falls 10% – Here’s a Newer Move to Earn Crypto That’s a Better Investment
- Stacks Price Prediction – STX Jumps 30% on Ordinals Frenzy Boost, Can it 10x to $10?
Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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