As cryptocurrency adoption soars, multiple ecosystems continue to spring up. The sector already has burgeoning sub-sectors like decentralised finance (DeFi), non-fungible tokens (NFTs), and the Metaverse.
Now, we have Move-to-Earn (M2E), which has been popularised by STEPN. This guide explores the potential of the Solana-based lifestyle app, use cases, and the STEPN (GMT) price prediction.
|🏃 Coin Name||STEPN|
|🔆 Coin Symbol||GMT|
|⏳ Price Change 1h||0.22%|
|🌕 Price Change 24h||0.99%|
|💵 Market Cap||$181,550,134|
|🌐 24h Volume||$13,250,406|
|🔄 Circulating Supply||1,190,519,101|
|💰 Total Supply||5,412,285,791|
STEPN (GMT) Price History
STEPN officially launched in March but took the market by storm in April and May, reaching an all-time high above $4.
Its price history and activity are significantly low compared to more established digital assets like Bitcoin and Ethereum and it has a current market valuation of just $200 million, compared to a peak market cap of $2.3 billion in April.
- Breaking into the limelight at a price peg of $0.15, the Green Metaverse Token (GMT) shot to a whopping value of $3 on April 1, 2022, reflecting a price gain of 2,000% in a month.
- The STEPN coin did not slow down from its rallies but then a slight dip in the crypto market caused it to shed about 20% of its gain as the GMT asset retraced its value to $2.1 on April 4.
- Meanwhile, this dip was temporary as the STEPN token found its running feet again. The digital asset recovered lost ground and hit a pleasant figure of $3.3 two weeks later.
- GMT continued its price gain as it surged further to $3.7 at the tail-end of the month.
- Thereafter, STEPN coin traded sideways within the range of $2.5 to $3.3.
- The digital asset later broke through this price maze, hitting an all-time high (ATH) of $4.1 on April 28.
- The token then had a major dump in early May, collapsing below $1 before a small recovery to $1.5.
- Its downward trend has continued throughout the rest of 2022 however, and has continued to lose key support.
- GMT has not been above $1 since early August and dropped below $0.50 in early November following the collapse of FTX.
- As of April 2023, Stepn is trading at $0.36
The wider struggles of the crypto market have massively influenced the price of GMT, with macroeconomics, the Russo-Ukrainian War and energy crisis, inflation and rate hikes all affecting the price of cryptos and other assets.
The collapse of FTX and the extreme bearish sentiment around Solana – upon which STEPN is built – is also hurting the project.
However, the STEPN community has also lost users because of its weak tokenomics and lack of rewards in the move-to-earn ecosystem.
Only 10% of the GMT supply is in circulation, with another 5.4 billion tokens to be released at some point, while players have complained that earn only very little rewards unless they buy the latest digital NFT sneakers, which act as boosters.
Some players have accused the company of greed, with many leaving the ecosystem behind.
The fitness industry is worth a whopping $100 billion and STEPN does have huge potential with its move-to-earn model.
While Web2 platforms like YouTube only allow users to consume and create fitness content without providing a way for them to earn from it, STEPN cures this malady as it properly incentivizes users to engage in a healthier lifestyle.
STEPN also puts an entirely different spin on the ecosystem as its NFT sneakers allow users to earn when they walk, jog, and run.
STEPN (GMT) Price Prediction 2023
2023 saw the emergence of multiple move-to-earn cryptos, and they gave a lot of competition to Stepn, which was already suffering from the bear market.
Stepn opened 2023 at $0.23 and slowly climbed to cross the $0.5 mark before retracing and finding an accumulation rage. of $0.3. The tokens’ performance hasn’t been the best, thanks to many controversies and better alternatives out there.
Furthermore, the applications trading mechanic also drew criticism as many considered the ceiling too high, which further did no favors for the Stepn price. However, now that the market has started to show signs of recovery, many on CoinMarketcap state that they are bullish on $GMT.
While that is no indicator of how Stepn might perform, many experts say that Stepn might reclaim its $1 mark by the end of 2023.
STEPN (GMT) Price Forecast Long Term Outlook – 2025 Prediction
The long term outlook for STEPN is great should it fix some existing issues – such as the rewards scheme it offers – as well as a wider market recovery.
Given its social and gamified elements and name recognition as one of the trailblazers in the M2E world, STEPN could be the premier M2E project in the years to come.
Two major factors should not be underestimated, however, by potential investors. The first is that there are other M2E projects now on the market that have learned from STEPN’s early mistakes and offer better rewards structures
The biggest issue, though, is its supply. Just 10% of coins are in circulation meaning 5.4 billion coins still need to be released in the coming years.
STEPN has outlined, in detail, how its remaining tokens will be unlocked but the generation of tokens is sure to affect the price. Even by 2030, 400 million of the 6 billion total supply will still not be on the market.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Potential Highs & Lows of STEPN (GMT)
If you have come thus far in this STEPN (GMT) price prediction analysis, knowing the lowest possible and maximum prices the digital asset could trade for is a good step forward.
|Potential Low||Average Price||Potential High|
What is STEPN (GMT) Used For?
In the STEPN ecosystem, two utility tokens are operational. These tokens are the Green Satoshi Tokens (GST) and the Green Metaverse Tokens (GMT). GST is used for upgrading digital sneakers and as a reward for exercising.
However, GMT covers a larger scope of the STEPN project:
Web 3 blockchain platforms have fashioned to participate in the growth of their protocols This is done through a voting mechanism called governance. Here, users are required to hold a certain amount of the network’s tokens to vote or make vocal their opinions on certain aspects of the projects. This mechanism leads to a more liberal and open ecosystem where a larger number of individuals make decisions. The GMT asset serves as the governance token for the STEPN project.
2. Payment Template
GMT is also useful as a payment method, although the user needs to meet up to an exclusive rank in the game. Level 30 and higher players can see their earnings paid directly in GMT as against GST.
Solana is a hybrid proof-of-stake (PoS) and proof-of-history (PoH) consensus algorithm, which makes it eligible for network security through staking. STEPN operating on the scalable smart contract network enables GMT for staking. This way, users can lock up or pledge their tokens towards securing the network by validating transactions in return for more of the digital assets. This can be a useful tool in generating passive revenue.
What Drives the Price of STEPN (GMT)?
STEPN (GMT) is a part of the nascent crypto industry, which is controlled by the Bitcoin blockchain. As a result, STEPN (GMT) is subject to the price whims of the premier digital asset, which could rise or dip in a matter of hours. This makes cryptocurrencies volatile and unpredictable.
However, new crypto ecosystems like M2E and play-to-earn (P2E) are rapidly carving a strong following with some semblance of a breakaway from the BTC control surfacing. If more users commit to a healthier and less toxic lifestyle, STEPN (GMT) could see its price gains last a bit longer than other crypto assets in more fragile waters.
The Game-fi and social-fi elements would sit well with more extroverted users, who would tap into the project to connect with their fanbase. This may see STEPN (GMT) maintain a strong price valuation in the coming months.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Where to Buy STEPN (GMT)
M2E projects like STEPN (GMT) are taking the world by storm. These projects have seen their tokens listed on several exchanges. GMT recently secured a trading spot on foremost US Bitcoin exchanges, Coinbase and Kraken. While these exchanges command a significant share of the crypto market, we recommend eToro due to the exchange’s focus on creating a social environment for users to trade financial assets.
eToro is a multi-asset broker that allows the trading of several assets including commodities, stocks, and cryptocurrencies. The automated trading platform allows the trading of 65+ top-performing digital assets. To get started, eToro requires most users to meet a base minimum deposit that starts from $10 (for UK and US investors) and can go higher subject to a user’s country of residence.
eToro supports several options for users to fund their account. Investors can use bank wire transfer and credit/debit cards. Investors can also buy BTC with PayPal, Skrill, Neteller, and several others. Added to this, eToro does not charge any fee for deposits through any of the channels. Fees for crypto trading are fixed at 1%, including the spread fee. A further 1% and 0.46% is charged.
eToro has been able to stay above the competition due to its social trading capability. Investors are able to share their trading strategies and lessons. They can also communicate with one another while trading their favourite financial assets.
eToro’s most impressive trait is its CopyTrader and CopyPortfolio features. CopyTrader is especially useful for new users who have no idea of how the crypto or financial market works. With this functionality, users can easily copy or mirror the trading strategies of more experienced and advanced traders. They get to lock in profits with little effort while mitigating their risks.
CopyPortfolio tends to the portfolio maximisation of the users. This helps investors to diversify their portfolios across top-performing industries and regions. New investors also have a large inventory of learning resources at their disposal on eToro. This means beginner investors can easily learn how to trade crypto and other nuances required to settle and operate in the crypto sector.
The platform is regulated by the UK’s Financial Conduct Authority, Financial Industry Regulatory Authority (FINRA), Australian Securities and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
Cryptoassets are a highly volatile unregulated investment product.
STEPN Video Analysis
Is STEPN Coin the Best Crypto to Invest in?
STEPN coin is a relatively new cryptocurrency that enjoyed incredible success after its presale but has since run into numerous issues and seen its price fall dramatically.
Its biggest issues are its rewards system, which has angered many users, and its supply issue – with 90% of tokens still not on the market.
Love Hate Inu has come up with an alternative reward system with social aspects that could put it ahead of Stepn. Love Hate Inu is a unique Vote2earn project that rewards those who vote on different LHINU-powered polls.
These polls can be about anything from entertainment to social media-related topics. The staking mechanic has been combined with voting, giving Love Hate Inu a look of a DAO.
Users stake their tokens in voting and earning APY in return. This system is supported by three elements – Voting system, polling system, and a poll management dashboard. The voting system allows users to vote and earn LHINU tokens.
LHINU tokens can be used for several things, but one major utility it has is creating polls through the polling system. That system is supported by apps and artists who have placed quirky images for users to choose from.
The third element is the management dashboard that allows users to look monitor polls and votes to ensure fairness.
In a recent AMA, Carl Dawkins, the CEO of Love Hate Inu, introduced another VIP KYC system to provide businesses a way to create more advanced polls, rather than the bi-optional polls that you can see in most marketing materials. These polls will provide users with better engagement and allow brands to take their marketing at the next level.
Love Hate Inu has leveraged these utilities to raise upwards of $7 million within a month, and the tokens are running out fast. Click the link below to participate in this presale before the listing date begins.
STEPN (GMT) has been a trailblazer in the new-fangled M2E ecosystem, GMT enjoyed one of the best presales and initial pumps of 2023.
Our STEPN (GMT) price prediction has covered an extensive array of what the project covers and how it works. We also considered what drives the GMT price and where to buy the digital asset for low fees, and highlighted the meaningful use cases for STEPN including governance, payments and passive income opportunities via crypto staking.
However, there are major issues with the protocol given the unhappiness of its users with the rewards system and the supply issue that sees 90% of tokens (5.4 billion) still to be released onto the market. The GMT price has now retraced considerably.
For more potential upside, we recommend checking out Love Hate Inu. It has a straightforward reward mechanic and is available at a discount, thanks to being available on presale.
Love Hate Inu - Next Big Meme Coin
- First Web3 Vote to Earn Platform
- Latest Meme Coin to List on OKX
- Staking Rewards
- Vote on Current Topics and Earn $LHINU Tokens