STEPN RECORDS 75% PRICE SPIKE IN PAST WEEK AMIDST BEAR
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Play-to-earn, which took a moon shot upon introduction into decentralized finance, happened to gain heavy traction for Blockchain gaming users and investors, this helped build the confidence that players can interact with in-game features of specified P2E games and earn while at it. The revolution isn’t dampening anytime soon. STEPN; is a platform running on an application that allows users to earn currency by engaging in activities like jogging, walking, or running. The platform integrates augmented reality (AR); which operates by layering the virtual world onto the real world, with play-to-earn gaming.
Players, or can we say Movers can earn rewards in STEPN’s native cryptocurrency token, GST; the Green Satoshi Token, which is transferred to their in-game wallets. GST token earning per session can be boosted when users buy and upgrade their sneakers which are Non-fungible tokens.
It is worthy of note that:
•GST: token earned by users via walking, jogging, running
•GMT: STEPN’s official governance token that allows token holders to participate and vote on the platform.
GMT MARKET ACTIVITY
The walk-to-earn platform, STEPN, had a rough history midway into June due to an announcement from the project in May which saw the STEPN token price drop by 30%. But judging from the records in the last seven days, investors are still willing to be part of the walk-to-earn business structure as its token GMT gained 75% of its value.
The token is seen moving to the first resistance level, rising to a complete rally reversal.
As of the time of filing this report, STEPN is at a 50-day moving average, acting as a barrier between descending assets and ascending assets.
From the records, trading volume from the weekend kept GMT from entering a full rally mode.
THE TWEET THAT DROPPED STEPN BY 30%
The STEPN official Twitter handle put out a notification to Chinese investors about a possible ban from the walk-to-earn platform due to issues faced by the project in China.
The project also gave investors the opportunity to withdraw their assets and other alternative means of interacting with the platforms. Nevertheless, users in couldn’t use VPNs to access the app, as it uses the GPS tracking system to collate data.