STEPN (GMT): A Walk-to-Earn Lifestyle App

STEPN (GMT): A Walk-to-Earn Lifestyle App

STEPN (GMT), an innovative GameFi platform on the Solana blockchain, provides users with unique opportunities of participating in play-to-earn game and other innovative fitness solutions consistent with users’ lifestyle choices.

What Is STEPN?

Despite the growing competition in the GameFi segment, STEPN successfully differentiates from the majority of other projects by offering the enhanced functionality to users. In addition to traditional play-to-earn solutions, STEPN also provides them with an opportunity to earn tokens by participating in fitness activities, thus, establishing a new category “move-to-earn”. STEPN promotes a healthy lifestyle by serving as a “Web3 lifestyle app”. The key elements of the platform can be effectively adjusted to the needs and preferences of every user. In this way, gaming and fitness elements are effectively integrated with one another. Both financial and social rewards are used to maximize users’ involvement and minimize carbon emissions. The gamification of fitness constitutes the main competitive advantage of STEPN compared with other crypto projects.

The GMT current price equals $0.8827 with the circulating supply of 600 million tokens. The maximum supply is 6 billion tokens, implying that 90% of the total supply will be issued in the following several years. Its total market capitalization equals $529.6 million, making it the 71st largest cryptocurrency at the moment. GMT reached the peak of its valuation at the end of April despite the continuous “crypto winter”. After the rapid correction in May, the GMT price has consolidated in June, thus establishing the basis for a new bullish cycle when the general situation in the industry improves. The major platforms, including CoinMarketCap, indicate that GMT is among the most trending tokens among crypto enthusiasts in the past weeks.

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Figure 1. STEPN’s Promotion Image. Data Source – PanDaily

Investing in GMT: Pros and Cons

The growing demand for healthy lifestyle creates the optimal environment for strengthening STEPN’s competitive positions in the industry. Moreover, its developers have successfully integrated the gamification and physical activity control elements, thus making healthy lifestyle entertaining and appealing to the vast majority of users. At the same time, the long-term project development also depends on its future innovativeness as well as the general dynamics in the crypto industry. Competitors’ actions may also play a significant role in shaping the profitability in this segment in the following months.

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Figure 2. GMT/USD Price Dynamics (3-Months). Data Source – CoinMarketCap

The GMT price dynamics is characterized by the following major support and resistance levels. The key support is at the price of $0.50 that corresponds to the local minimum within the past several weeks. The token’s price has consolidated around this level and reversed the negative trend. At the same time, there are the following major resistance levels: $1.5 and $3.75. The former refers to the significant historical level that may confirm or negate the previous trend, while the latter may establish the token’s potential for approaching and exceeding the all-time-high level. Strategic investors can open long positions after the GMT price reaches the level above the first resistance level of $1.5 to balance potential rewards and risks.

Dmytro Kharkov

Holding a Master’s Degree in Finance (Distinction), Dmytro Kharkov has proven expertise in Business Analytics, Data Analysis, and the crypto market. He has completed online courses on Machine Learning and Data Science from the leading universities and online schools. He closely monitors the latest crypto analytics insights from Glassnode, IntoTheBlock, Santiment, etc.