Although 2022 is a year of “cold winter” for cryptocurrencies, many projects have managed to get rid of this negative atmosphere. Among these projects, from time to time really popular STEPN (GMT) is also available. STEPN has continued to grow extensively since June.
The game and/or metaverse project, which works with the logic of “move-win”, seems to be included in the game again, even though it had an undesirable performance for a while. While the project team continues to make some development plans for STEPN, the native token is also trying to regain market share.
Is It Time to Wear Sneakers with STEPN?
of STEPN sneakers NFTstarted to gain momentum again in August. Demand for these sneakers has increased significantly over the past week, following a drop in July.
As can be seen in the chart below, sales managed to show a positive rise in the first week of August. This growth is a significant development that could accelerate STEPN’s own expansion in the broader crypto ecosystem.
STEPN also continues to reveal development plans lately. Launch of Health Points (HP), promoting the lifespan of STEPN sneakers.
Koinfinans.com As reported by the press release, “Without HP, the supply of sneakers is endless and never gets old, which is an important solution to inflation and eventual price reduction.”
On July 25, STEPN stated, “STEPNrun He also started the Contest. The competition, which is planned to be held between 25 July and 8 August, will also serve as a means to “raise awareness about the project”.
on the other hand GMT token became popular with whales. According to Whale Statistics, GMT ranks in the top 10 for trading volume among the 100 largest BSC whales in the last 24 hours.
What Does GMT Data Say?
Despite the increase in sales of sneaker NFTs, daily users on STEPN remain stagnant as the chart below reveals. Currently, new and existing users go up to 5000 in the metric here.
This lags behind 32k user growth on June 21. However, STEPN’s plans may introduce new users into the game.
At the time of the news, existing users were starting to show more interest in “buying more shoes”. But their interest has waned since the beginning of July.
STEPN seems to be facing an alarming situation now as it will have to retain existing users. To this end, STEPN may choose to increase rewards for such users. While current reward models exist, an “upgrade” is expected in the second half of 2022.
Despite all the developments, it is actually possible to say that STEPN has started the second half of 2022 well. STEPN followed the pattern in a similar fashion, as most cryptocurrencies also managed to recover. The native token GMT has remained unchanged since last week.
At press time, GMT was trading at $1.01 after a 5.97% increase from the last day. Time will tell if these changes and new models will have any impact on GMT.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.