Current Price: $1.20 (31 May 2022 - 2:27 CDT)
This is a quick glance at StepN ($GMT) the move to earn token that is taking the Crypto world by storm. As you can see some are bullish while others are bearish. Looks like LIGHT called it right with his short position looking really good right now. I believe a popular podcaster will be covering this asset soon so stay tune and I will update the link here.
01 May: (Cointelegraph)
The buyers will now try to push the price to the overhead resistance at $4.17. If buyers clear this hurdle, the GMT/USDT pair may resume its uptrend. The pair could then attempt a rally to the psychological level at $5.00. If the price turns down and breaks below the 20-day EMA, the selling could intensify. The pair may then decline to the 50-day SMA of $2.08.
02 May: (TDH)
Guy also has his eye on StepN, the fast-rising walk-to-earn project whose GMT token has enjoyed parabolic moves in recent weeks. The analyst says that GMT has a shot at continuing its rally, but faces the heavy downward weight of the broader crypto market dip. “As for STEPN, the GMT token is continuing its upwards trajectory, thanks to listings on Coinbase and Gemini, which has made it accessible to more investors. The exponential adoption of the StepN app is certainly contributing too. GMT seems to be building a solid zone of support around current levels which will help when it tries to break new all-time highs. Just bear in mind, that if we break down below this zone, GMT could crash by more than 30%. Some would argue that it’s only a matter of time the way the market is looking.
02 May: (TDH)
Pseudonymous analyst Light tells his 155,700 Twitter followers that he believes GMT, which equips users with non-fungible token sneakers and rewards them for taking steps in real-life, is extremely overvalued after going through a massive rally in the last two months. “Think GMT is about to walk off the edge of a cliff in short order. Light says that while the app’s use case is “compelling,” the current number of StepN users doesn’t justify its fully diluted valuation of over $20 billion. Built a full short position in the $3.80s. The token ran up 40x from Binance listing in two months on a strong Axie mimic narrative and incredible app growth metrics.”
08 May: (TDH)
DonAlt: “I honestly can see [GMT] close at this level this weekend. And then next week wipe out big time and reverse it all back again like towards the end of the week. That would be a really, really good trade where you close where we are right now [at] $2.40, maybe at $2.25, and then you wick down to $1.50 or $1.00 during next week if something crazy happens. I think if you get that big wick and you see Bitcoin approaching support, you just want to be buying that. And then you have an easy 2x to 3x just straight off the bat from that.” At time of writing, GMT is trading at $2.51.
13 May: (Decrypt)
GMT, the token of recently hot “move-to-earn” mobile running game STEPN, is up nearly 39% to $1.66 today. Enjin Coin (ENJIN), the token of crypto gaming firm Enjin, has gained 26% at a current price of almost $0.74.
13 May: (UToday)
As the main page of CMC suggests, Stepn (GMT) remains the most profitable position on the crypto market in the last 24 hours. Such vigorous growth of the token is most likely tied to the extremely high volatility of the GMT token and the speculative nature of most of its movements.
19 May: (TDH)
Michaël van de Poppe: STEPN (GMT) could see a massive rally if Bitcoin (BTC) can maintain the $28,400 support range. The crypto analyst tells his 602,000 Twitter followers GMT could soon jump approximately 47% to the $1.80 level. “Might be a play on GMT if BTC holds $28,400 range.” STEPN is trading for $1.38 at time of writing.
24 May: (Bitcoin.com)
STEPN’s GMT token is now supported for use on Alchemy Pay’s hybrid fiat-crypto payment system that enables it to be spent at over 2 million merchant partners, online and offline, in more than 70 countries worldwide. STEPN’s Chief Revenue Officer, Shiti Rastogi Manghani, said of the partnership: “We are delighted that Alchemy Pay is now giving our users the ability to spend their GMT tokens in multiple real-world situations. Now that our web3 app has this new dimension we expect to see major growth of our community and ecosystem.”
25 May: (TDH)
The fitness project was initially built on Solana (SOL) with a dual-token system: Green Metaverse Token (GMT) for voting and staking and Green Satoshi Token (GST) for delivering rewards for walking or running. STEPN users can earn tokens by purchasing sneaker NFTs from the app and participating in real-life exercise activities which are tracked by their phone’s built-in GPS features. Currently, only the solo participation mode is functional, but the marathon and background modes are in development for future release.
25 May: (Bitcoinist)
According to Jerry Huang, StepN co-founder, around 2 to 3 million users worldwide are actively using the app. The app was created by Jerry Huang and co-founded by Yawn Rong in Australia. The app was first introduced in a Solana hackathon in early October 2021. It ranked fourth in the event, but StepN’s exposure resulted in its first set of beta users. Huang and Rong are entrepreneurs and venture capitalists, and they were initially self-funding StepN. Still, in September, they decided to scale and open the project up for fundraising to bring in added publicity and strong partnerships. StepN has been getting a net profit of $3 million to $5 million or up to $100 million monthly. Not bad at all for a 5-month old gamified earning app.
27 May: (Decrypt)
The twin tokens underpinning the popular crypto game Stepn plummeted after the project announced it would block gameplay in China.
The associated tokens, Green Satoshi Token (GST) and the STEPN token (GMT), immediately dropped double-digits following Thursday's announcement.
27 May: (Cointelegraph)
In a move to comply with Chinese regulatory policies, Stepn will be blocking users based in mainland China from its mobile app.
28 May: (Cointelegraph)
GMT’s downside pressure remains as an analyst calls STEPN a “hype-driven speculative frenzy.” GMT’s price has rebounded by nearly 35% — from $0.80 on May 27 to $0.99 on May 28. Interestingly, the upside retracement started after the price fell in the same range, which had acted as support before GMT’s 500% and 120% price rallies in March and early May, respectively. Mike Fay: “STEPN is in a hype-driven speculative frenzy and I’m not touching any of this. Not the payout token (GST-USD), the governance token GMT, or the NFTs.”
02 Jun: (BIC)
GST reached an all-time low on June 1 and it is following a descending resistance line. GST is trading inside a short-term descending wedge.
05 Jun: (Decrypt)
Popular crypto game Stepn was hit with a number of distributed denial-of-service (DDoS) attacks this weekend, the third such occurrence in as many months.
Check out the latest YouTube coverage.
