An altcoin encouraging health and fitness is achieving major milestones on the price charts just days after being listed on global crypto exchange Binance.
Green Metaverse Token (GMT) is one of two native assets for the STEPN move-to-earn application.
GMT is the STEPN governance token while Green Satoshi Token (GST) is the game token.
According to Binance, users can earn tokens by purchasing sneaker non-fungible tokens (NFTs) from the STEPN app and participating in real-life exercise activities which are tracked by their phone’s built-in GPS features.
There is also a feature to mint custom NFT sneakers for sale as well as convert GST for US Dollar Coin (USDC).
In addition to governance, GMT’s roles include earning staking rewards and gaining access to in-app features through burning.
The app also features a decentralized wallet and is available for both iPhone and Android devices.
Project backers include investment firms Sequoia, Alameda Research and Solana Capital.
Binance first announced it was adding GMT to its roster of crypto assets last Tuesday on the Binance Launchpad when the altcoin was valued at $0.01.
STEPN officially went live on the Binance exchange and then witnessed a series of upward price increases and ultimately peaked at $0.44 on Sunday for a mind-boggling 4,300% increase.
GMT has since corrected after the sustained rally, down 17% at time of writing and trading for $0.35.
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Source: https://dailyhodl.com/2022/03/15/under-the-radar-altcoin-erupts-4300-in-less-than-a-week-after-abrupt-binance-listing/