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Highlights
- STEPN is a Web3 lifestyle application, and the GMT crypto is its native governance token.
- The STEPN network has Green Satoshi Token (GST) and the Green Metaverse Token.
- The GMT crypto also set an all-time high of US$ 3.81 per token during the last 24 hours.
Since its launch, STEPN's Green Metaverse Token (GMT) has caught investors' attention, as indicated by the rise in the cryptocurrency price.
At the time of drafting this article, the GMT crypto was up about eight per cent to US$ 3.51 per token, and its market cap was approximately US$ 2.1 billion, according to CoinMarketCap data.
Notably, the GMT crypto also set an all-time high of US$ 3.81 per token during the last 24 hours after rising more than 3,400 per cent since its all-time low of US$ 0.1003 per token on March 11.
Why is GMT crypto rising?
The GMT crypto could be rising due to an announcement from Binance NFT in which it shared the highlights of the STEPN ASICS NFT (non-fungible token) Sneaker collection.
In the announcement, Binance NFT said that STEPN's NFT collection ranked first on the platform and had over US$ 2 million in trading volume. Also, 195,571 tickets were subscribed and provided high returns, like 20x from the initial price.
What are STEPN and the GMT crypto?
STEPN is a Web3 lifestyle application, and the GMT crypto is its native governance token. Notably, the STEPN network has two tokens- Green Satoshi Token (GST) and the Green Metaverse Token.
Also Read: Zilliqa (ZIL) crypto soars amid rising market. Here's why
The lifestyle application allows users to earn tokens for walking, jogging, and running outdoors. STEPN users get equipped with NFT sneakers to earn the GST token, and it can be used to level up new sneakers and as a gaming token.
Meanwhile, the GMT token acts as a governance token, and it can be used on the STEPN app to access its features and upgrade high-quality gems.
Find Satoshi Lab has developed the STEPN app and is an Australia-based fintech studio.
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Bottom line
The GMT crypto is rising, but it is impossible to predict how high the cryptocurrency can go. The reason is volatility in the cryptocurrency market.
If you are a crypto enthusiast, you must be familiar with the extreme volatility of the crypto market. Hence, the rising price of a virtual currency shouldn't be the only factor to consider before investing.
Also Read: What is Dallas Cowboys crypto? All you need to know
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