STEPN GMT Price Prediction

STEPN (GMT) on Coinmarketcap

Every now and then an altcoin comes along that goes up and up and shows no sign of slowing down, despite some pullbacks.

In late 2021 that was Shiba Inu, which is still trending from time to time on, currently the #2 trending coin on the coin price tracking site.

One of the top trending coins right now in Q2 2022, currently going viral, is STEPN (GMT).

Cryptoassets are a highly volatile unregulated investment product.

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 while exercising, in the form of GMT and GST (Green Satoshi Token). The more they exercise, the more they earn.

It’s a fun, novel and interesting use case and the STEPN app arguably has more lasting appeal and utility than meme coin Shiba Inu (SHIB) does.

The GMT price has been exploding as the number of users of the STEPN app has been increasing – downloading it and minting sneaker NFTs, their ticket to play the game and start earning profits.

STEPN is now the #29 app on the App Store in the Health & Fitness category.

GMT Price Prediction 2022

STEPN price history

GMT price chart via Coingecko

GMT is perhaps more comparable to being the next Axie Infinity rather than the next Shiba Inu. That play to earn (P2E) crypto game’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 hit an all-time high of $4.17 on Binance – an over 400x run so far for the ‘move to earn’ governance token.

The GMT price is currently trading at around $2.50 – $2.70, since Bitcoin and the rest of the crypto markets have corrected.

GMT is yet to be listed on Coinbase and may continue to go up in 2022 until it is listed – popular new altcoins tend to pump in anticipation of being listed on the largest crypto platform in the US.

Below is a May 6th GMT price prediction video.

There are some concerns Bitcoin may crash to the 20k level. However on-chain data suggests that long-term holders of Bitcoin are not selling, and in fact whales are continuing to buy and accumulate BTC, either on crypto exchanges or OTC (over the counter).

Many traders making STEPN price predictions think the GMT top is still not in yet and another potential all time high is in play. One piece of bullish news is that Elon Musk bought Twitter for $44bn.

Investors are optimistic that crypto will be integrated into the Twitter platform in some way or at least more awareness of crypto will be raised by the Tesla CEO, who has been a long time proponent of and investor in cryptocurrencies.

GMT Marketcap

The GMT marketcap is still only currently $1.5 billion ($2.2 billion at its peak), and it hasn’t broken into the top 50 coins – GMT is currently ranked #51 on Coinmarketcap.

Shiba Inu hit a market capitalization of over $40 billion at its peak (now $9 billion), and is still the #16 largest coin. If GMT can flip Shiba Inu from here, that would be about a 6x increase in valuation – making the GMT price over $15.

In the long term, if Green Metaverse Token can reach the highest marketcap SHIB had, that would be a 20-30x gain – putting the most optimistic GMT price target at around $50 – $70.

The GMT total supply is lower than that of Shiba Inu – 6 billion coins compared to 549,063,278,876,302 for SHIB.

GMT coins also have an in-built burn mechanism to reduce the circulating supply over time.

In the medium term, GMT could flip AXS which is the #46 ranked coin now that the Axie Infinity hype has died down – with a market cap 20% higher than GMT coin today, $1.8 billion. That would put the price of GMT back over $3.

As well as Binance, GMT has been listed on Bybit, with both a spot trading and perpetual futures pair to margin trade GMT with leverage. Bybit exchange has a high trading volume which could help the GMT asset grow in price.

Cryptoassets are a highly volatile unregulated investment product.

Binance Labs Investing in GMT

One of the most positive signs for a continued GMT bull run is the line-up of venture capital (VC) investors in the STEPN project:

  • Binance Labs
  • Alameda Research
  • Sequoia Capital
  • Folius Ventures
  • Solana Ventures
  • 6th Man Ventures
  • Sfermion

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 partner Jerry Huang added:

Our community is the mainstay of our growth and seeing them rewarded is our biggest motivation. Currently, a new player can earn good returns by walking / running even for 10 minutes, and a savvy player can earn not only handsome token returns but other NFT rewards every day!

In Q3 2022 according to the whitepaper STEPN will introduce a sneaker NFT rental system so that users can use the app without having to buy sneakers themselves – that will remove the issue of the expensive floor price of the sneakers and allow more users to be onboarded.

Note – Green Metaverse Token is not to be confused with GMT Token, which also has the ticker GMT. Also STEPN is different to Step App, a competitor. The Step App crypto token has the ticker FITFI. We also wrote some FITFI price predictions.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.