The crypto ecosystem has shown itself to be a vibrant and ever-changing place, with new ideas and concepts constantly emerging. Since the DeFi breakout of 2020, we’ve seen many advances in the blockchain space, such as Play-2-Earn, Non-Fungible Tokens, Metaverse, etc. All of which are attracting the interest of investors.
Move-to-Earn (M2E) is another relative innovation making waves in the cryptosphere. The phenomenon rewards users for staying active and fit. M2E is already being implemented by several platforms, including STEPN, SweatCoin, and others. STEPN is garnering much attention due to its offerings, and investors are looking to make profits from the network’s native token. Could it be the next Shiba Inu?
STEPN is compared to Shiba Inu (SHIB), due to gaining up almost 2,000% since early March. Another point of comparison is that STEPN in its early days is top trending on CoinMarketCap. However, STEPN already has a lot more utility than SHIB.
Today’s live STEPN price is $2.63 USD with a 24-hour trading volume of $1,388,949,015 USD. STEPN is down 2.33% in the last 24 hours. The current CoinMarketCap ranking is #52, with a live market cap of $1,578,327,710 USD. It has a circulating supply of 600,000,000 GMT coins and a max. supply of 6,000,000,000 GMT coins.
This guide provides you with all you need to know about STEPN, including its price history, mode of operation, and price predictions for the future.
Let’s get into the details!
What is STEPN?
STEPN is a Web3 move-to-earn fitness and health lifestyle mobile application with game finance (GameFi) and social finance (SocialFi) elements. The team behind STEPN is Find Satoshi Lab, a fintech studio based in Australia.
The project runs on the Solana blockchain, and its basic concept depends on most people’s daily activity, which is “moving around.” STEPN emerged as the 3rd runner-up at the Solana Ignition Hackathon of 2021 and remained the first project to implement the move-2-earn concept functionally.
The GameFi component of STEPN is intended to help the platform drive millions of users toward a more healthy lifestyle, combat climate change, and discourage vehicles with high carbon discharge. On the other hand, STEPN’s Social Finance component intends to build a platform that encourages user-created web3 content.
How does STEPN work?
STEPN leverages a two-tiered token system. The two types of tokens accessible in the ecosystem are GMT and GST, each of which can be obtained uniquely.
STEPN users earn in-app rewards in the form of in-game tokens – Green Satoshi Tokens – GST, for running, walking, or jogging. While Green Metaverse Tokens – GMT is a governance token and can also be used to boost earnings, pay fees, upgrade the features of NFT sneakers, progress through the various modes of the game, or cashed-out for profit on supported crypto exchanges.
The STEPN app is embedded with several GameFi features:
- Game Modes: STEPN is in its beta phase and currently only offers a solo mode to users. The two other game modes, Background and Marathon modes, are undergoing development and will be available soon.
- Sneakers: These are Non-Fungible Tokens with different attributes such as comfort, resilience, efficiency, and luck. Sneakers enable users to earn in-game tokens, and they can be customized and upgraded by burning Green Satoshi Tokens.
- Gems Sockets: After attaining a particular sneakers level, STEPN users can gain access to some gems to improve the attributes of their sneakers.
- Shoe Minting: When users get two (2) NFT sneakers, they can go on to mint Shoeboxes. Minting cost will be dependent on the category of the initial sneakers and the newly received ones.
- Badge: Users can earn various badges by executing different in-game objectives. These badges can provide benefits that can be used to impact the game experience. For instance, users with badges can enjoy reduced minting costs, bonus points, governance perks, or extra energy. This feature is currently undergoing development.
To get started on the app, users will need an activation code currently available via the project’s discord group on an invite-only basis. An activation code is issued every twelve (12) minutes, making it a struggle to get on the STEPN wagon these days.
Applications of STEPN
- Mobile application: STEPN is live on iOS App Store and Google Play store (Restricted to certain countries).
- Sneaker NFT: Every sneaker has different types, qualities, attributes, and gem sockets. Users can burn tokens to level up and customize sneakers.
- Move and Earn: Users equipped with sneakers NFT can move outdoors and earn tokens. There are multi-layers anti-cheating mechanics to prevent exploitation.
- Rental system: Users can rent a sneaker for free, move and earn and then split the earnings with the sneaker owner.
- In-app NFT marketplace: Users can trade their NFTs on the marketplace.
- In-app swap: Users can swap their token earnings to other forms of cryptocurrencies.
- In-app decentralized wallet: Users can deposit and send cryptocurrencies to the wallet to fund their spending accounts.
Where to buy STEPN GMT
If you are interested in trading STEPN (GMT), it is available on several well-known exchanges Binance, OKX, MEXC, DigiFinex, Bybit, Huobi Global, Coinbase, Gate.io, PancakeSwap (DeFi Exchange), and others.
STEPN Partners
The project won a Solana (SOL) hackathon and has some big-name backers. Indeed, being listed on Binance is one reason for its recent success. 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
STEPN GMT Price History
STEPN’s native token, GMT, has continued to gain a lot of traction across the internet since its launch in March 2022. The token’s trading volume has outperformed several other established tokens and dominated significant exchanges.
GMT started at $0.1536 on March 9, 2022, and reached $2 by the end of the month – an ROI of over 1200%.
GMT reached an all-time highest price of $4.11 at the end of April, but corrections soon followed. The current price of STEPN is $2.44, and its market cap is $1,472,461,765. In the past 24-hours, the value of STEPN and its market capitalization had decreased by 9.58%.
STEPN Price Predictions 2022-2027
Wallet Investor
STEPN GMT price prognosis from Wallet Investor expects the token to reach a maximum price of $3.657 and a minimum price of $2.802 in the upcoming days. In the long run, they expect a maximum market price of $29.577 by 2023, and $133.118 by 2027, making it a high-flying web3 token.
Price Prediction
PricePredictions provides a steady but positive outlook for STEPN tokens in the future. They expect GMT to go past its current all-time high by 2026 to reach a maximum price of $4.88. By 2027, GMT is forecasted to reach a minimum price of $5.78, a maximum price of $7.07, and an average trading price of $5.99.
CryptoPredictions
Cryptopredictions expects a year-end valuation of $2.77-$3.259 by December 2022. They expect some corrections and pullbacks in 2023, with the token’s minimum price predicted to fall to $1.933. By 2026, GMT is expected to reach a maximum value of $8.164 and a minimum value of $4.986.
Cryptopolitan
STEPN price prediction 2022
In 2022, we expect the price of STEPN to drop to a minimum of $3.34 based on our in-depth technical analysis of past GMT price data. GMT’s maximum trading price is $3.77, with an average price of $3.54 per unit.
STEPN GMT price prediction 2023
In 2023, it is anticipated that the price of GMT will reach a minimum of $3.58. STEPN’s price is expected to reach $4.24 in 2023, exceeding its current all-time high. The token’s expected average forecast price is $3.96.
STEPN price prediction 2024
Based on the future developments in the ecosystem and the rollout of the SocialFi elements, the price of STEPN is expected to reach a minimum level of $3.33 by 2024. The GMT price may see a price rise to $4.62, with an average market valuation of $4.26.
STEPN price prediction 2025
In 2025, the value of one STEPN is anticipated to reach a minimum of $4.68, according to predictions. During the year, we expect the token’s price to come to a maximum of $5.68, with an average trading price of $5.63.
STEPN price prediction 2026
In 2026, the price of STEPN is expected to reach its minimum possible value of $4.40 per unit. According to our estimates, the GMT price might rise to a maximum attainable amount of $5.13, with an average forecast value of $4.66.
STEPN price prediction 2027
The price of STEPN in 2027 is predicted to be at a minimum of $5.22 based on our detailed technical analysis of its historical price data. The STEPN price can achieve a maximum trading value of $8.00, with an average value of $6.90.
STEPN Price Prediction by Industry Influencers
Professional trader, risk manager and leading technical analyst STEPHEN HOAD has this to say about STEPN GMT: Up +500% in just weeks, STEPN (GMT) (Green Metaverse Token) is getting a lot of hype on social media. Possibilities of a 10X upside in the short term? A Web3 lifestyle app / social / gaming design where you need to burn the GMT to access/mint the app’s features. Has the app got any longevity? I take a look at the charts to see where it may be heading next.
Final verdict
STEPN appears to be a viable investment, especially in light of the high level of trading in the GMT cryptocurrency, potential development, and the number of apps now being developed on the Solana blockchain. But bear in mind that nothing in the world of crypto is definite. If you can’t afford to lose your money, don’t invest.
In the medium term, GMT could flip AXS which is the #44 ranked coin now that the Axie Infinity hype has died down – with a market cap 33% higher than GMT coin today, $2.8 billion. That would put the price of GMT at almost $5.
FAQs on STEPN
What is STEPN GMT’s total supply?
The total supply of GMT tokens is 6,000,000,000 GMT, and its circulating supply is 600,000,000 GMT.
How to purchase STEPN tokens?
To buy GMT, follow these steps:
- Create an account on your preferred exchange, and complete KYC.
- You can buy STEPN with your credit or debit card or use the supported trading pair on your select exchange.
Is STEPN a profitable investment?
There is a strong likelihood that the value of STEPN will continue to climb with a supply shortage. As a reminder, all investments have a degree of risk. Do as much research as possible before drawing any decisions, and invest only as much as you can afford to lose.
Source: https://www.cryptopolitan.com/stepn-price-prediction/