Stepn (GNT), the popular blockchain Solana (SOL)-based move-to-earn token, has taken a leap in market cap with its latest rise. Web3 coin project entered the top 50 in terms of market capitalization. Here are the details and price movements…
Web3 coin project STEPN has taken a leap
According to Coinmarketcap data, GMT, the management token of the STEPN project, has reached a record level of $4.03 with an increase of about 20 percent in the last 24 hours. The token has rallied over 3,000 percent in the past three months and is among the top performing cryptos this year. Its current market capitalization is approximately $2.4 billion. The token’s first rally has been fueled by speculation that STEPN will partner with a major sports brand this year. While STEPN has yet to make a statement on the matter, the hype around the possibility has boosted the token’s value.
Another event that increased the value of the token was Coinbase’s statement that it will support STEPN’s two tokens, GMT and GST, as we reported on Kriptokoin.com. The GST used in awarding awards to STEPN users is given the label “experimental asset”. GST has also increased by more than 20 percent in the last 24 hours. On the other hand, OpenSea, one of the largest NFT marketplaces, said it will support STEPN’s sneaker NFTs.
Things to know about STEPN
STEPN is a distinctive “Web3 lifestyle app” with GameFi elements on the Solana Blockchain. It combines the features of a play-to-win game with a fitness app to create a new category called “win by moving”. Users purchase NFT sneakers that they can use to earn in-game currency while walking, running or jogging.
STEPN aims to revolutionize the fitness apps market by empowering millions of users to follow a healthier lifestyle. The app solves various problems such as “proof of motion” and a functioning GPS system that proves users are actually exercising. In addition, STEPN financially encourages users and plans to introduce social reward elements and successfully contribute to carbon neutrality.
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