Step App (ticker symbol FITFI) is the native coin of the Step.app mobile application, trading at around $0.6 – $0.7 with a market cap of $166 million. How high can it go in 2022?
Since its launch on Bybit on April 26th, it pumped around 13000% in the first week, hitting another top in its second week of $0.73, on May 5th, the current FITFI all time high.
It was also listed on Crypto.com, where it opened at $0.28 a day after Bybit exchange – most of the FITFI price growth was on day one – and the FITFI top was higher on that exchange, $0.79.
It pays to invest early in new crypto coins – and many would consider it still early for FITFI with its low market capitalization (ranked #2830 on Coinmarketcap).
The Step App price has been performing well despite Bitcoin dropping from $40k to $35k over the same time period, showing a lot of relative strength against the rest of the crypto markets.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Step App Price Prediction
Step App is part of the popular move to earn phenomenon, a way to earn free crypto when running and having a sneaker NFT, the mobile app on their iOS or Android smartphone and a GPS connection.
Step App and its native token have competitors – like the similarly named STEPN (GMT). We made a price prediction for that previously at it’s also on an explosive bull run.
Investors might ask though, which one will win? Or do the crypto markets have room for several move to earn apps with the same utility? There are many altcoins that have similar use cases and utility, in different sectors of crypto and decentralized finance (DeFi), and many play to earn (P2E) games. This specific making money by running niche is smaller though.
STEPN vs Step App
One difference with Step App it also offers staking, where users can stake FITFI token to get NFT drop tickets (DT) to ‘Lootbox events’, and win NFTs in the form of ‘SNEAKs, skins, avatar badges and tags’, according to the Step.app website.
There isn’t yet much detail in the Litepaper on how Step App plans to ‘bring the industry the first of its kind perpetual staking contract’. A longer whitepaper isn’t yet available and the Step App site displays a ‘coming soon’ message.
So far, STEPN is more well-established, GMT was listed on Binance on March 9th and is currently up 27000%, opening at $0.01, hitting an ATH of $4.17, and today trading at $2.70.
FITFI Market Cap
Comparing the market cap, GMT has a $1.6 billion market capitalization (over $2.2 billion at its peak, and now ranked #53 on Coinmarketcap), and the FITFI market cap is $166 million (not yet verified).
Currently the Step App market cap is self-reported
That suggests the FITFI market cap has room to grow 10x, just in comparison, if the Step App becomes as popular as the STEPN app, with runners and investors.
STEPN has many venture capital investors behind it though which we went into in our price prediction – including Alameda Research, Binance Labs, Sequoia Capital and others.
Where to Buy FITFI
Will Binance list FITFI? That’s an important question as it has the highest trading volume of any crypto exchange. Since Binance Labs invested in STEPN, that might be a conflict of interest.
Will Coinbase list FITFI? They did list GMT.
Crypto projects listed at Binance and Coinbase have more potential for growth. Some cryptos pump in anticipation of a big exchange listing, then dump after. The best cryptos then do recover from the ‘Binance listing effect’ though after an accumulation cycle.
GMT didn’t experience that on Binance and has been in a bullish uptrend while the rest of the crypto markets, with some exceptions like ApeCoin (also an NFT coin) have been bearish.
GMT is listed at Coinbase, Bybit and Crypto.com has a perpetual futures pair for it, for those that want to margin trade with leverage. Bybit has both a spot trading and futures pair for GMT.
Both Bybit and Crypto.com only have spot pairs for FITFI, a FITFI/USDT pair to trade against Tether.
The option to margin trade can help the price rise, as traders borrow to long FITFI – it can also cause deeper price crashes too, on liquidation wicks, and higher wicks to the upside, as shorts are liquidated.
Daily candle timeframe on Crypto.com
FITFI Price Prediction
Overall the FITFI price looks on a trajectory to hit $1 and higher. Assuming it hits a $500 million market cap – a common milestone for new crypto projects – that mean give a price target of $2.
At a $1 billion market cap, say by 2023, the FITFI price would be around $4.
In the short term that may depend on if Bitcoin does crash to the $20,000 -$25,000 support area to retest the 200 weekly moving average, as some investors predict. Most crypto investors tend to be bullish in the long term though, even if that does happen, and plan to buy more at those levels.
You might want to consider dollar cost averaging into both GMT and FITFI over the course of the rest of 2022, to protect your capital against dips, and as a long term investment into move to earn apps in general – they’re an emerging new asset class and promising technology trend.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Step App Review
Below is a Step App review that takes a live look at the FITFI price chart with Fibonacci levels, and asks is Step app a good investment.
It’s difficult to do any detail technical analysis (TA) on FITFI has it has less than two weeks of price action (PA). From a fundamental analysis perspective though (FA) people like earning money while out jogging and exercising, and VC investors know that.
STEPN attracted institutional investors, and its app became one of the most downloaded on the App Store. FITFI could capture some of its market share, attracting some STEPN users with its staking rewards. Some people interested in STEPN have also found it hard to get an activation code – due to high demand, those were limited each day. Impatient runners might jump ship to Step App instead.
It is strange Step App chose such a similar name to STEPN, both for their app and crypto token – could they even be sued? Will some buyers / runners mix the two up and buy / download STEPN instead? Those are some concerns.
Step App Price Forecast – The Verdict
The long term price forecast for Step App, STEPN, and their governance tokens will have volatile bull and bear cycles, but should provide a good return on investment (ROI) in the long run.
Investor interest in blue chip cryptos that have been around for many years and have a market cap of $5 – 30 billion, putting them in the top 30 rankings, seems to be on the decline.
Projects like Litecoin, Polygon (MATIC), Bitcoin Cash, and others could easily be flipped by new upcoming altcoin projects – Terra (LUNA) for example launched in late 2020 and broke into the top 10, with a $25 billion marketcap today.
LUNA falls under the category of DeFi coins which have been performing well, as have NFT coins with any connection to non-fungible tokens, which FITFI and GMT are.
Meme coins like Dogecoin and Shiba Inu achieved over a $30 billion market cap at their peak, and are still valued at $10 – $17 billion today. Those showed what hype and influencers can do for a project, and a fun design – move to earn applications and sneaker NFTs are also a fun, interesting concept.
The native token of play to earn game Axie Infinity, AXS, rose 166,000% to its top ($0.10 to $166) before retracing 84% – remember to take profits on the way up. AXS still has a higher market cap than GMT though even now after that six month correction, so by investing in FITFI or GMT you’d be doing so at a low valuation and cheap price point.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.