Green Metaverse Token (GMT) Price Analysis and Prediction
No move-to-earn app has ever been created, despite multiple attempts, and none have been successful in being widely used. With gaming and social features on the Solana blockchain, the web3-based application STEPN seeks to change that.
A two-token mechanism is used by STEPN. Green Metaverse Token, or $GMT, is a governance token, while Green Satoshi Token, or $GST, is a utility token used in games. This price prediction takes the latter cryptocurrency into account.
Please note that our forecast for the price of the $GMT token is not intended to be investment advice. Please do your own research before investing in any cryptocurrency.
What Is $GMT?
The STEPN fitness app's governance token is the Green Metaverse Token ($GMT). Its main objectives are to encourage healthy living and environmental awareness. Users who have their $NFT sneakers can receive incentives for moving around outside when they do so. At the time of writing, it was among the most widely used fitness apps on Google Play and AppStore. Numerous features offered by STEPN are designed to give both crypto specialists and beginners a seamless experience. New users can interact with STEPN without downloading any extra apps thanks to the app's network of cryptocurrency-related items.
Along with other features, there is a wallet, a marketplace, and an exchange service.
Additionally, STEPN stands apart due to its focus on interactivity and in-app gamification. Users can level up their $NFT sneakers and mint shoes, for instance. Additionally, there are lots of chances for social connection.
The STEPN software largely uses the $GMT token for governance. Additionally, it can be burned to unlock features like sneaker improvements. Finally, it is used to vote on issues involving the allocation of staking rewards.
What Determines $GMT Price?
A token in the developing cryptocurrency market managed by the Bitcoin blockchain is called STEPN ($GMT). As a result, the price of the top digital asset, which can increase or decrease in value in a matter of hours, has a great deal of sway over STEPN ($GMT). Cryptocurrencies are therefore unstable and unpredictable. However, brand-new crypto ecosystems like $M2E and play-to-earn ($P2E) are quickly gaining popularity, and there are some early indications of a breakout from $BTC control. The price gains for STEPN ($GMT) may endure a little longer than those of other crypto assets in more unpredictable waters if more users decide to choose a better and less harmful lifestyle. More outgoing users would be drawn to the project's game- and social-fi elements and use it to interact with their fanbase. This could result in STEPN ($GMT) maintaining a high price valuation in the coming months.
$GMT Price History
About two months ago, STEPN made its official introduction. Its price history and activity are much less than those of more well-known digital assets like Bitcoin and Ethereum. The initiative is still in its early stages, as seen by the less than $2 billion market value it currently commands.
However, since its introduction in March 2022, the Solana-based protocol has been on a tear. The price of the governance token, $GMT, has changed in the following ways since its original public offering:
1. On April 1, 2022, The Green Metaverse Token ($GMT), which had a launch price of $0.15, soared to a stunning $3, a 2,000 percent price rise in a single month.
2. Since then, the STEPN coin's uptrend has continued unabated. But as the $GMT asset retraced its value to $2.1 on April 4, a slight decline in the cryptocurrency market cost it around 20% of its gain.
3. Meanwhile, the STEPN token recovered its footing and resumed its run. Two weeks later, the digital asset regained lost ground and reached a pleasant figure of $3.3.
4. $GMT's price increased even further at the end of the month, reaching $3.7.
Following that, the STEPN coin traded sideways in the $2.5 to $3.3 range. On April 28, the digital asset broke through this price maze, reaching an all-time high (ATH) of $4.1. In recent weeks, the bear market has taken a heavy toll on several digital assets. $GMT has lost ground as the market has experienced a significant decline. $GMT is currently trading at $1.4, which is 65.7 percent below its previous high.
In terms of reputation, STEPN is still a project navigating a very cutthroat market. On the other hand, the project's concentration on a whole different range of customer demands has garnered it a significant following in the crypto sector.
According to estimates, the fitness sector is worth $100 billion. Users are only able to generate and consume fitness content on Web 2 sites like YouTube; there is no way for them to make money off of it. By effectively motivating consumers to lead healthy lifestyles, STEPN treats this illness.
It is no accident that STEPN is becoming more and more well-known; the project's secret ingredient is non-fungible tokens. Since its initial demonstration in 2014, $NFTs have developed into a robust ecosystem. The sub-sector rose to popularity after 10,000 randomly generated algorithmic avatars that resembled punks, or CryptoPunks, were released. Millions of dollars were paid for these digital artifacts, and Beeple's 5000 Days $NFT illustration served as the catalyst.
Since then, the number of $NFT initiatives has skyrocketed, causing a collision between the virtual and real worlds. On the other hand, just a handful $NFT-facing projects have dabbled in trading these digital treasures and have instead concentrated on establishing distinctive algorithmic avatars.
With their $NFT sneakers, which enable users to earn money while walking, jogging, or running, STEPN adopts a novel approach to the ecosystem. Each user's earning potential is based on their individual traits and digital footwear.
With its intentions to introduce a renting component and a marathon, the project would lead to the quickly expanding move-to-earn (M2E) space.
$GMT Price Technical Analysis
The $GMT price has maintained a stable pattern since plunging off a cliff in May, building up strength for the next rally.
Volatility and volume have undoubtedly been significantly impacted by recent developments in the cryptocurrency market, but under the right circumstances, the commodity might soon soar wonderfully.
Because of this, the asset currently looks ready for a 1x to 2x rally in the upcoming days to reach its targeted target.
$GMT Price Prediction 2022
For this year, we have high hopes for the price of STEPN ($GMT). This largely depends on the $M2E sector's performance during the next few years. However, many users may view this as a chance to digitally connect with others and keep in shape while staying indoors given the global limitations on transportation and social gatherings enforced by the Covid-19 pandemic.
The Achievement System, which would honor the top fitness enthusiasts participating in STEPN, would be activated in July 2022. This should cause the STEPN currency to increase to $5.
August 2022-The price of the STEPN token might increase to $5.7 with the introduction of the Quest System.
September 2022—In September, the Rental System will become live. Until they can afford to buy their own $NFT footwear, low-income users can rent digital sneakers from more financially comfortable customers. This results from the unusually high value of the $SOL token. The user base would grow dramatically as a result, and the price of the STEPN coin would soar to $8.
$GMT Price Comparison with $AXS
Both STEPN and AXIE Infinity are well-known Play-2-Earn blockchain-based crypto assets that help power the chain. Over the past few months, there have been identical price changes for both the $GMT and $AXS values, which have both followed a similar pattern. The STEPN($GMT) price has now decreased to a minimum of -17.93 percent after decreasing from average levels by the end of June. On the other hand, the price of the $AXS decreased dramatically from the same levels, falling to levels of -30%.
$GMT Price Comparison with $BTC
The asset's recovery from its June lows saw a sharp difference between $GMT/USDT and $GMT/BTC.
Both assets experienced a considerable decline, dropping from lows of 8% to 10% to 30% to 40% in the middle of June.
The $GMT/USDT price went from below 40 percent to about 17.92 percent, nevertheless, in a stunning turnaround.
The price of $GMT/BTC increased sharply from -35 percent to +40 percent while maintaining strength, and it is currently trading at +19.62 percent.