Step App crypto surges 30%: What to expect from FITFI token?

Highlights

• Cryptos seem to have entered a limited bullish phase, with metaverse tokens rising sharply
• Step App’s ecosystem claims to combine fitness with metaverse and gaming, with FITFI as its governance token
• FITFI token had registered more gains in the past 24 hours than high market cap cryptos like BTC

The latest increase in interest rate by the Fed has not resulted in any major crash in riskier assets. In contrast to what is usually expected in such scenarios, the crypto market was largely trading in green at the time of writing.

Bitcoin, the biggest cryptoasset among tens of thousands listed on CoinMarketCap, was up nearly three percent. Separately, gaming cryptos, including AXS and MANA, had also registered very high gains. Among top gainers during the past 24 hours was Step App crypto or FITFI token. A relatively very new player in the crypto industry, FITFI crypto falls under gaming tokens. Let’s know more.

Move-to-earn concept

Blockchain gaming ventures including Axie Infinity and The Sandbox have popularized the concept of ‘play-to-earn’ or P2E. They allow users to collect digital assets like native crypto tokens and NFTs. The holding can be traded by the user to generate profits.

Also read: What is Pacman Frog crypto? What are its incubation & NFT services?

Step App crypto is stressing its move-to-earn concept, where fitness would be made a part of metaverse. Metaverse is a fictional space, and most of the gaming cryptos are considered a part of it. In Step App’s metaverse, it is claimed that the focus is on fitness content.

NFTs, in the form of SNEAK digital assets, are a part of the Step App ecosystem. FITFI, the project’s governance token, is complemented by another native token, KCAL. KCAL token can enable purchase of SNEAK NFTs, the litepaper claims. It is further stated that holders of SNEAK can also stake them.

Step App crypto (FITFI) price growth

According to the price tracking website CoinMarketCap, FITFI token’s ride has been largely positive. From April 26, 2022, when the price was nearly US$0.15, the token has mostly traded in green, reaching US$0.6 in early-May. As of writing, FITFI token traded at nearly US$0.65, having gained over 30 per cent in the past 24 hours.

Also read: Which are top NFT games’ tokens by market cap?

That said, Step App token’s CoinMarketCap ranking is very low. This is in contrast to P2E tokens like AXS and MANA that ranked in top 100 assets at the time of writing. Data on Step App crypto’s market cap is not available. OKX and MEXC are among exchanges that have listed it for trading purposes.

Data provided by CoinMarketCap.com

Bottom line

Step App crypto had gained sharply as of writing, more than Bitcoin or other popular P2E tokens. But FITFI is a new player in metaverse and gaming category, and hence caution is recommended. This year, tokens like MANA and AXS have lost heavily after riding the metaverse wave in 2021. Step App claims to have other digital assets as well, including SNEAK NFTs and the native token KCAL.

Also read: Is Square Enix entering NFT gaming with Tomb Raider's sale?

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