Stepn, a lifestyle and move-to-earn application, partnered with Germany-based apparel company Adidas to issue the Genesis Sneakers NFT collection. The collection, which marks the start of a one-year collaboration between these organizations, comprises 1,000 NFTs inspired by Adidas’ “most iconic” running silhouettes and cobranded by the two companies. Stepn Teams With Adidas to Issue Co-Branded […]
Bitcoin News
Stepn Rewards Move-to-Earn Users With $30 Million in FSL Points Airdrop
On Wednesday, the Web3 fitness and move-to-earn platform Stepn unveiled a million airdrop campaign, offering participants the chance to earn FSL points that can be exchanged for GMT tokens. Stepn Reveals M Airdrop, Precedes Big Brand Collaboration The Solana-based Stepn has begun the allocation of 100 million FSL points among its users, which they […]
Bitcoin News
STEPN (GMT) Holds Gains While Many Top Coins Taste Declines
The GMT’s price has been in a strong upward trend in the past seven days despite other major coins nosediving. It experienced a 13% 7-day growth and a 24-hour gain of 0.53% this morning. Meanwhile, several top coins like FEI USD, Basic Attention Token (BAT), and Ravencoin have seen their prices plummet badly.
STEPN (GMT) remains a major move-to-earn crypto project in the market despite fierce competition from the likes of SWEATCOIN. With a market cap of over 0 million, GMT is the 87th largest cryptocurrency by market capitalization on Coinmarketcap.
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STEPN Pumps Thanks To GigaSpace Partnership
The coin’s price has risen significantly over the past few days after it announced its partnership with GigaSpace metaverse. The partnership will see both companies building a STEPN virtual city for community members.
STEPN users can buy STEPN items, organize community events, and engage with others in the metaverse. It’ll have a sports theme and have buildings and amenities, including stadiums, shopping malls, and communal space.
After the announcement on GigaSpace’s official Twitter handle, the coin price doubled within 24 hours. This was followed by a steady weekly rise from .59 on the 21st to .73 yesterday. Meanwhile, other top coins were all down between -5% and -10%.
Surviving Amidst Competitors And General Bearish Sentiments
STEPN (GMT) has enjoyed a good run since its inception in 2021. Over 4.72 million people have downloaded the app, attracting million in financing and one million active daily users. But in recent weeks, the GMT price exhibited a significant negative trend as Stepn activity showed symptoms of slowing. Sweatcoin’s rise in popularity coincided with its decline.
On September 13th, Sweatcoin released its own cryptocurrency, SWEAT. CoinMarketCap reported that the price of SWEAT increased by over 30% in the 24 hours following the launch. As a result, it’s likely that the introduction triggered the GMT price struggle as investors rushed to purchase SWEAT.
GMT had also struggled alongside the entire crypto market. On April 29, 2022, it climbed to an all-time high of .80. But by the middle of June 2022, it dropped to its all-time low of.58, plummeting even more sharply than GST, its sister token.
GMT’s price is currently trading around .6701. | Source: GMTUSD price chart from TradingView.com
GMT Price Predictions
Despite these bearish sentiments, GMT has managed to hold onto its position this week. It closed with a 10% increase two days back at .684746.
The trading volume over the last 24 hours totaled 5,743,486, with a current price of .6719. STEPN lost 0.39% in the past day, ranking #87 on CoinMarketCap with a 0,997,811 market cap. There are a total of 600,000,000 GMT coins in circulation and a maximum of 6,000,000,000 GMT coins available.
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STEPN may find support at .5964 after bouncing to .8070, which is now its resistance. If the GMT price manages a strong breach over .8070, it might go to .9215 or .1170.
Featured image from Pixabay and chart from TradingView.com
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STEPN and GigaSpace Metaverse Form Strategic Partnership
The two have formed a strategic partnership to build a virtual STEPN city in the GigaSpace metaverse.
The new metaverse GigaSpace has formed a strategic partnership with the move-to-earn fitness app STEPN to build a virtual STEPN City for their community.
Sharing the same vision with STEPN – building a bridge connecting Web2 & Web3, GigaSpace is building a virtual world that is not only designed for Web3.0 parties, but also Web2.0 parties that will dive into Web3.0.
The STEPN City will be a sports-themed city that includes buildings and facilities such as stadiums, shopping malls, and community space, where fans and supporters can buy STEPN merchandise, initiate community events, and interact with each other in a meaningful way.
The virtual City is currently under development and will be available in phases after GigaSpace alpha launch. The objective of this partnership is to provide a virtual space where the fans from around the world can gather easily, not limited by geographical barriers.
Below shows a 24 x 24 plot of land owned by STEPN in the GigaSpace Metaverse.
STEPN & GigaSpace land
About STEPN
STEPN is a Web3 lifestyle app with Social-Fi and Game-Fi elements. Users that are equipped with NFT Sneakers accrue points based on the distance they walk, jog or run, which is tracked through GPS, and then receive rewards in tokens for their progress. The rewards are credited to the user’s wallet as Green Satoshi Tokens (GST), which can be used to level up and mint new Sneakers.
About GigaSpace
GigaSpace is building the world’s first Web5 metaverse with a unique ecosystem to facilitate business activities and communities by combining the worlds of Web2 and Web3.
GigaSpace has already partnered with 100+ Web2.0 & Web3.0 parties within a very short period of time.
GigaSpace’s strategic partners and land owners.
STEPN (GMT) Struggles To Hit $1, Is The Price Running Out Of Steam?
STEPN (GMT) has struggled to show its move in recent months after ranking as the top gainer for several weeks against tether (USDT). The price of STEPN has struggled to rally to despite the market seeing relief bounces across the market, with many altcoins producing double-digit gains, with the price of STEPN (GMT) showing little or no steam left for a major rally. (Data from Binance)
STEPN (GMT) Token Price Analysis On The Weekly Chart
Weekly GMT Price Chart | Source: GMTUSDT On Tradingview.com
GMT saw a decline in its price from a region of to around 0.63, with an over 70% drop from its all-time high despite having good fundamentals. The price of GMT bounced off after touching a weekly low of .63, and the price rallied to .95, showing some great strength, but the price was quickly rejected as this area acts as resistance to the price of GMT.
The price of GMT on the weekly chart formed a range between .6- as the price continued with little volume, unable to break out of the range channel. For GMT to break out of this range channel, the price needs to be backed with good volume as the resistance at the mark has proven hard for the price of GMT after several rejections at this zone.
GMT price needs to break and close above with good volume for a possible rally to .5, where the price would face resistance. A break a close for GMT price above would signal a good relief bounce.
If the price of GMT fails to hold its support at .63, seen as a demand zone, we could see the price going lower.
Weekly resistance for the price of GMT – -.5.
Weekly support for the price of GMT – .63.
Price Analysis Of GMT On The Daily (1D) Chart
Daily GMT Price Chart | Source: GMTUSDT On Tradingview.com
The daily timeframe for GMT prices continues to weaken as prices continue to respect the downtrend trendline inside an asymmetric wedge. If the price of GMT continues with this structure, we could see the price retesting the support zone at .6.
GMT price needs to break out of the downtrend for the price to have an opportunity to trend higher; a breakout from this downtrend structure to the upside would be a first relief sign for bulls.
On the daily timeframe, the price of GMT is currently trading at .66, as the price of GMT on the daily chart closed below the 50 Exponential Moving Average (EMA), acting as resistance for GMT price. The price of .8 corresponds to the resistance at 50 EMA for the price of GMT. The price of GMT needs to reclaim 50 EMA for a chance to trend to ; if the price fails to be reclaimed by the price, we could see the price retesting the support at .6 or lower.
The Relative Strength Index (RSI) for GMT is above 50 on the daily chart, indicating low buy order volume.
Daily resistance for the GMT price – .8-.
Daily support for the GMT price – .6.
Featured Image From Freepik, Charts From Tradingview
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TA- STEPN (GMT) Could Be Set For A Major Rally After Bullish Signs
The price of STEPN (GMT) could be set for a major rally against Tether (USDT) after showing bullish signs.
Ethereum price saw a relief bounce from ,600 to ,800 ahead of merge sentiments leading to other altcoins like STEPN bouncing off from their weekly lows. (Data feeds from Binance)
Price Analysis Of GMT On The Weekly Chart
Weekly STEPN Price Chart Analysis | Source: GMTUSDT On Tradingview.com
From the chart, the price of GMT saw a weekly low of around .58, which bounced from that range and rallied to .
The price has built more momentum as it faces resistance at .
If the price of GMT on the weekly chart continues with this bullish structure, it could quickly hit the .7 mark.
The volume shows decent buy bids, pushing the price of GMT higher.
Weekly resistance for the price of GMT – .
Weekly support for the price of GMT – .63.
Price Analysis Of GMT On The Daily (1D) Chart
Daily Chart Analysis For STEPN Price | Source: GMTUSDT On Tradingview.com
The price of GMT found strong support at around .58, with what seems to be an area of interest on the daily chart.
GMT bounced from its support, forming a bullish trendline that acts as a support and has continued to maintain this structure.
At the point of writing, the price of GMT is at , trying to break above the 50 exponential moving averages (EMA), which corresponds to the resistance at .
If the GMT price fails to break the 50 EMA region, .84 would be a good support to hold sell-offs and a possible price bounce.
With more buy bids, we could see the price of GMT breaking out and retesting .7, which has been resistance on the weekly chart.
The RSI for GMT price on the daily chart is above 55, indicating healthy buy bids for GMT.
The volume for GMT looks good, indicating positive signs for prices to trend higher.
Daily (1D) resistance for GMT price – .
Daily (1D) support for GMT price – .84, .59.
Price Analysis Of GMT On The Four-Hourly (4H) Chart
Four-Hourly Chart Analysis For STEPN Price | Source: GMTUSDT On Tradingview.com
The price of GMT has shown a bullish breakout from a symmetric triangle on the 4H chart, but the price was rejected.
GMT has struggled in this region, forming a range in a triangle with price rejecting from .1.
GMT price is .994, trading above the 50 & 200 EMA at .95 on the 4H chart. This price would act as a support area for GMT on the 4H chart.
Four Hourly (4H) resistance for GMT price – .
Four hourly (4h) support for GMT price – .92, .84.
A break below these support zones could send the price of GMT to a region of .80, acting as a good support area.
Featured Image From Coin24h, Charts From TradingView.com
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STEPN Kickstarts Gamers’ Interest As GMT Capitalizes On Bullish Retracement
And the game is on for STEPN as the GMT token plays in sync with other cryptocurrencies amplified for the bull run. In the past couple of weeks, STEPN has been making upgrades on its network to rekindle the waning interest of gamers. And the token seems to be making a lot of progress.
The move-to-earn game has recently rolled out Health Points that set a certain life cycle for STEPN sneakers. They also were brewing an exciting STEPNrun Contest that is scheduled to kick off from July 25 to August 8 which is meant to get the word out about STEPN on social media. The contest is designed to run on both Instagram and Twitter.
GMT Token Price Warms Up At .01
The GMT token price is currently at .01 and is forecasted to take off in the past couple of days. It looks like STEPN is just warming up at this point with its recent updates.
When the contest was launched, GMT tokens gained support and advanced to .92. The GMT price has since then remarkably increased by 4% as seen in the past few days.
Alongside the GMT price growth, trading volume also surged for the same period. GMT’s trading volume has spiked by over 25% or at 492.16 million as of this writing. It only took a couple of days for the token to gain some traction. Additionally, GMT’s total token’s market cap has also jumped to 6.36 million from 3.76 million.
With the prices still showing an upward trend overnight, CoinMarketCap showed a 4.12% spike in STEPN’s GMT price in the last 24 hours.
STEPN’s GMT Token Set To Go Bullish In Coming Days
Meanwhile, STEPN’s GMT token seems to be hovering towards the overbought domain as seen on the 4-hour chat with the Money Flow Index or MFI at 74.02. Moreover, the token’s RSI was also spotted at 59.63.
On the other hand, GMT’s social dominance has lagged behind by 23%. Its social volume also declined by 67% as seen in the past couple of days. The token is seen to be moderately volatile or on the average when pitted against other cryptocurrencies.
With that being said, STEPN is currently in the top 43% of cryptocurrencies in terms of volatility.
STEPN’s GMT price is geared for an uptrend. With resistance at .03 and support found at .935037596620583, this sets up STEPN to go for a bullish movement before it faces hurdles from selling pressures.
Crypto total market cap at .06 trillion on the daily chart | Source: TradingView.com
Featured image from Atomic Wallet, chart from TradingView.com
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Stepn GST Token Slides 97% – Despite Fitness App Having 3M Users
Stepn (GST) is competing in the fitness industry using cryptocurrencies and the blockchain.
Stepn is a smartphone software built on Solana and produced by app developer FindSatoshi Lab that allows users to earn money by jogging, running, or walking.
Under the influence of this bearish market, however, the price of GST (Green Satoshi Tokens) has fallen below the critical support level. The coin is currently trading at .18, representing a 97 percent decline from its all-time high of a little over on April 28.
To prevent the ecosystem from imploding, the coin must once again attract purchasers like it did during that month.
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Can 3 Million Stepn Users Help Boost GST Price?
The NFT-based exercise app has amassed 3 million active users each month. Given the high number of customers, market experts wonder if this will cause the GST price to rise slightly.
Similar to Fitbit, Stepn is a GPS-based game in which the app counts your activities and steps. To begin running, you must acquire a virtual pair of sneakers. These newly-minted NFTs can be resold on the market for a possible profit to purchase a better pair.
By the way, the Stepn app doesn’t work with a treadmill or any other electric-powered gym equipment: you must use your legs, and run outside of the house.
Two months ago, Web3 employees would boast on Crypto Twitter about making up to just by running. At the time, one pair of Stepn’s NFT sneakers cost a whopping 0 (priced in SOL).
Crypto total market cap at 5 billion on the daily chart | Source: TradingView.com
GST Price Drops Lowers
Those that engage in physical exercise can earn GSTs. Different types of sneakers refund GST at varying rates; the better the efficiency attribute of a sneaker, the more GST the user can earn per minute. At the peak of GST, you might get your money back in approximately 30 days.
Now, GST is only 18 cents, and jogging a few miles with an entry-level footwear NFT will earn you less than , which is a far cry from the easy you could earn by running a short distance.
GST was the most popular cryptocurrency earlier this month when the token’s price was closer to ; however, despite the excitement and a 30 percent increase on June 8, GST’s price fell further.
GST has a market cap of only million and ranks #529 on CoinMarketCap. The market capitalization of GMT is at 5 million, down from .17 and over .2 billion at its peak on April 28.
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Featured image from RationalInsurgent, chart from TradingView.com