According to Coinmarketcap, STEPN (GMT) is now ranked 69th in terms of market capitalization in the cryptocurrency space. Given that the STEPN public beta debut occurred less than 25 months ago, in December, this achievement is impressive. The developers then conducted a private token sale in January to raise $5 million from renowned venture capital firms by selling 16% of the entire supply of GMT.
The GMT price and market valuation have greatly increased since March’s first day. The STEPN governance token, one of the top 100 cryptocurrencies, and the most popular currency on Coinmarketcap, has increased in value by more than 273% just in the previous week alone.
The GMT cryptocurrency has experienced particularly high volatility this month, with its value reaching an all-time low of $0.1003 on March 11. On 1 April, it reached an all-time high of $3.11 since that time. Since then, the value of the STEPN token has gradually declined, maybe as short-term cryptocurrency traders took profits.
Why Has STEPN’s GMT Coin Surged Lately?
The increase in GMT’s price and market capitalization can be attributed to a number of contributing factors. Let’s examine some of the elements that are helping to underpin the recent bullishness in the GMT currency.
More Users Downloading And Enjoying STEPN App
Although it is still in public beta, the STEPN app has proved very popular with users. More than 100,000 users have already downloaded the Android app, which has received an average rating of 4.4 on Google Play.
GMT Trading Volume Rises After Multiple Exchange Listings
In recent weeks, the GMT coin has been listed on a number of well-known cryptocurrency exchanges, including KuCoin. This has increased interest in the token from cryptocurrency investors and increased its trading volume.
Crypto traders are more interested in purchasing GMT due to the strong fundamentals supporting STEPN and the quick rise of the coin into the top 100 cryptos by market cap. In an effort to lock in a profit ahead of anticipated high performance in the upcoming months, several traders have started purchasing GMT.
This may indicate a growing interest in the software and its native token, both of which are important factors in the rise in value of the GMT currency. A rise in search volume indicates more interest in the cryptocurrency, which provides short-term support for the price of STEPN.
Other Developments Suggest Rising Investor Interest in STEPN
Growing rumours suggest that STEPN may soon announce a number of significant brand collaborations, which may greatly increase its appeal. The app’s official Twitter account gave such a hint on March 29 when it shared an image with the logos of various well-known sports companies, including NIKE, ASICS, and Puma.
A significant amount of optimistic momentum has also been developing in the token since Morningstar Ventures announced earlier this week that GMT would be included in its portfolio. The business, led by CEO Danilo S. Carlucci, has engaged in a number of blockchain initiatives and digital assets.
The business recently disclosed that it has acquired GMT tokens in order to invest in STEPN. By the end of March, the price of STEPN reached an all-time high as a result of these two occurrences.
Overall Bullish Mood in Crypto Market Also Plays Its Part
The cryptocurrency market experienced a period of calm through the first weeks of 2021, but buyers have just started to return. The market leader, Bitcoin, has pushed through the $40,000 threshold and is continuing to climb, despite a brief decline.
Ethereum has returned to the critical $3,000 milestone thanks to the bullish sentiment among cryptocurrency dealers. Investor trust in cryptocurrencies has increased dramatically as a result of the two main cryptocurrencies’ recent price increases, which have also helped other digital assets gain ground.
The return of buyers to the larger crypto industry has also boosted STEPN’s GMT rise, causing it to trend higher on the charts. As the price of the top cryptocurrencies rises, traders’ risk appetites have increased, forcing them to diversify their portfolios with trending coins like GMT.
How to Buy GMT Token on Kucoin
The KuCoin exchange offers STEPN (GMT) on a number of markets, including Spot, Margin Trading Bot, and even Lending. Follow the instructions below to purchase GMT on KuCoin:
If you do not not have an account with KuCoin, create one now. To take advantage of our entire range of services, make sure you finish the KYC verification.
By converting your fiat currency into USDT through our Fast Buy service, you may fund your account. We accept more than 70 different forms of payment, including SEPA, PayPal, Visa, and Mastercard. Additionally, you can add USDT to your KuCoin trading account by using our P2P service or connecting with vendors on our marketplace.
To choose the GMT/USDT trading pair, go to the Spot Trading area. Confirm
Your GMT holdings will become visible within your KuCoin trading account following the successful execution of your trade. You can decide whether to keep them in your account or move them to an outside digital wallet for holding on to them.
On our Margin Trading page, professional traders can also trade GMT with leverage for a chance at larger earnings with up to 5x leverage.
Check out Kucoin’s Trading Bot service to increase your GMT/USDT trading profits even more. By interacting with our network of international traders and picking their brains on trading methods, you can make money in our Trading Bot community.
Should You Buy GMT?
A number of users and investors are interested in the intriguing dApp STEPN. Future development in adoption and value of GMT will depend heavily on its relationships. But bear in mind that due to the extraordinary volatility of cryptocurrencies, it is hard to make a precise prognosis about the direction the market will go in the future.
We advise you to only invest in GMT after carefully analysing the price activity of GMT to USD and the level of risk you are willing to accept. You further reduce risk, make sure to conduct your own study of fundamental, technical, and sentimental aspects before making any fresh trades.
Before making your investing decisions, it’s vital to stay up to date on all the most recent happenings pertaining to STEPN and the value of GMT.
STEPN’s Green Metaverse Token (GMT): Explained
While users receive the game token GST as compensation for their efforts, GMT serves as the ecosystem’s governance token for the STEPN network. One of the best-performing crypto assets on the KuCoin exchange since its recent listing is the GMT token, which was created recently.
At the end of April 2021, there were 600 million GMT coins in circulation. The governance token for STEPN has a fixed 6-billion-token limited supply.
Players can purchase GMTs and engage in activities to acquire GST tokens in the game. These tokens can be exchanged for cash, used to buy new NFT sneakers, advance through stages, and make in-app purchases.
Users can rent out or sell their NFT sneakers on the STEPN in-app market in exchange for more GST tokens. The app’s very own wallet is where these tokens are kept.
The main features of STEPN and its Green Metaverse Token, as well as the causes of the upsurge and how to invest in it, will all be covered in this article. Let’s begin by reviewing GMT’s recent performance.
More About the STEPN App
STEPN, a cryptocurrency built on the fast Solana blockchain, came in fourth place out of more than 500 projects in the Solana Ignition Hackathon in 2021. The GameFi dApp rewards users for walking, jogging, and running outside by giving them sneakers as NFTs.
The NFT sneakers-based Web 3.0 lifestyle software STEPN was created as a communal, GameFi experience to encourage players to live a better lifestyle. Additionally, the app aims to combat climate change through entertaining social features that might keep users interested in taking action.
The firm had $5 million in early funding as of January 2022. Sequoia Capital India, Folius Ventures, Solana Ventures, Alameda Research, 6th Man Ventures, and Sfermion were among the investors who took part in this round. During this round, the app also got money from a few well-known angel investors.