STEPN price prediction

Cryptocurrencies are piquing the attention and awe of a younger generation of entrepreneurs all around the world. It is undeniable that the fast-moving and volatile cryptocurrency industry makes players, observers, and regulators nervous, whether it involves Bitcoin, Ethereum, or the expanding number of altcoins. However, conventional companies are considering using cryptocurrencies and similar technology to expand into untapped markets or create new ones in cutting-edge virtual environments.

Analysts predict that NFT will soon become the primary driver of crypto development due to its rapid expansion and popularity. While most of the market was having trouble breaking through resistance, the governance token of the run-to-earn NFT mobile game STEPN recently soared over 40%. Green Satoshi Token is acquired by users through extracurricular activities (GST). Depending on the efficiency attribute, each pair of shoes returns GST at a different rate. The app hopes to add a Marathon mode with weekly and monthly events so users can earn, compare, and compete for top rankings to receive additional incentives. The key aim of STEPN is to encourage users to lead healthy lifestyles and to assist them in making money by doing so.

Tokenomics: Green Metaverse Token (GMT)

Given that GMT is still a young cryptocurrency, it is challenging to forecast its future price trends. However, analyzing past data might help us gain some understanding of how GMT might function in the future. We can predict that when more people start using this platform, the price of GMT will keep increasing based on prior history. Since its IDO in March 2022, the GMT token has already had some ups and downs, and as of right now, its market cap is securely positioned among the top 100 on CMC. The GMT token reached its all-time high price of $4.11.

Green Satoshi Token (GST) and Green Metaverse Token are the two in-game tokens on STEPN (GMT). The game’s utility token is GST. Users can earn GST indefinitely through their regular movements. The fixed supply of GMT, the governance token, is six billion tokens. With its production set to halve every three years, GMT is intended to be deflationary. Only sneakers that reach level 30 can earn GMT, according to STEPN’s whitepaper.

GMT has a burning system in place to control its supply. Users of STEPN must spend GMTs in order to enhance their sneakers and mint new ones, as well as to reach in-game milestones. The GMT is also used for governance and stake. Regarding the distribution of GMT tokens, 16.3% of the six billion total supplies were set aside for private sales, 7% for a launchpad sale on Binance, 14.2% went to the STEPN team, and 2.5% went to STEPN advisors. The STEPN bank and move-to-earn rewards each received 40% of the total GMT supply. According to information from CoinMarketCap, the circulating supply of GMT as of November 22nd, 2022, was 600 million, or 10% of its maximum supply. According to data from CoinMarketCap, at the moment, GMT has a market valuation of around $216.5 million, making it the 110th biggest cryptocurrency in the entire world.

Is GMT token a good investment?

This cannot be proven beyond a reasonable doubt because numerous sources provide highly diverse GMT price estimates. Some analysts predict that GMT will be worth more in future years, while others predict a price decline. Although there has been a lot of interest in STEPN, it is ultimately up to individual shareholders to decide if they think GMT is a good investment or not.

How High Can GMT Coin Go?

GMT has outperformed most of the larger cryptocurrencies in terms of ROI since its introduction. Given that GMT’s all-time high was over $4, this suggests that GMT may rise further. The market’s improvement and—most importantly—the growth in the user base of STEPN, a play-to-earn app, will determine just how far GMT can rise. GMT’s use, together with that of GST and other STEPN tokens. The user base of the STEPN app directly affects the utility of both tokens. With more people using STEPN, GMT will be used more frequently, which will cause the price of STEPN to climb.

GMT crypto news

There are some challenges affecting GMT crypto where the STEPN valuation is making it keep dropping. These include:

1. Increased competition in move-to-earn.

When STEPN first became popular in early 2022, it significantly contributed to GMT’s ascent to its all-time high price of $4.11 in April. GMT had severe selling pressure as the early enthusiasm subsided, and the move-to-earn sector became more crowded over time. Compared to the previous quarter, STEPN’s monthly active users fell by 67% to 482,000, according to DappRadar’s third-quarter gaming report. Even while the number of daily unique active wallets linked to a blockchain App increased by 12% in the third quarter of 2022 compared to the second quarter, there was a decline in STEPN users.

Sweat Economy (SWEAT), a new move-to-earn cryptocurrency game, has cut into market leader STEPN’s market share by providing lower entry barriers and more user-friendly interfaces. On STEPN, new users must purchase a pair of NFT sneakers before they can earn in-app rewards, but Sweat Economy users can begin earning in-app tokens as soon as they download the program on their smartphones. The Sweat Wallet app from Sweat Economy, according to DappRadar, was the most popular banking app in 51 countries in September 2022.

2. Expansion beyond Solana.

By extending its native Solana blockchain to Binance’s BNB Chain and the Ethereum network, STEPN has attempted to halt its collapse. It made sense for the project to expand to Ethereum, the top smart contracts platform with more than 3,000 decentralized applications. The number of active Ethereum addresses reached a record high of over 1.06 million in late July 2022, according to EtherScan data.

STEPN’s goals went beyond simply utilizing the second-most valuable network in the world, though. Blue-chip NFT Bored Ape Yacht Club (BAYC), which has an exclusive and powerful list of holders, including celebrities like Jimmy Fallon and Eminem as well as athletes like Stephen Curry and Neymar, is likewise based in Ethereum. To get BAYC holders to join their community, STEPN provided complimentary STEPN shoe NFTs to BAYC holders. The early decision to grow outside of Solana may have helped STEPN avoid the criticism that Solana and other cryptocurrency initiatives built on the FTX-linked blockchain network have experienced. However, according to SolScan data, there were 5.66 billion GMT tokens available on the Solana blockchain as of November 22nd, 2022, accounting for more than 94% of the total GMT supply.

3. Increasing GMT utility.

To broaden the application of the GMT token, Find Satoshi Lab, the organization behind STEPN, confirmed the debut of an NFT marketplace named MOOAR on November 1st 2022. MOOAR is a profile image NFT marketplace with a 2% default royalty when minting a collection, according to a press release. An NFT marketplace and an NFT launchpad will be combined into a single system by MOOAR. “MOOAR stands alongside STEPN and DOOAR, enhancing the functionality and value of our native $GMT token. Using $GMT, the native token of our ecosystem, the MOOAR launchpad and voting mechanism functions like a community-driven hackathon, according to the press announcement.

DOOAR is a decentralized exchange for the STEPN network in Solana. Unfortunately, as of November 22nd 2022, the introduction of MOOAR has been unable to stop the decrease in GMT prices since investors’ bearishness has increased due to the failure of various crypto-based businesses and projects, including the FTX market and Terra ecosystem, in 2022.

Price Analysis: GMT rise and fall

On March 2nd, 2022, 420 million GMT tokens made their debut on the cryptocurrency platform Binance for a price of $0.01 per GMT, according to CoinMarketCap. GMT had increased roughly 248% by the month’s end, closing at $2.49. According to CoinMarketCap data, GMT reached an all-time high of $4.11 on April 28th, 2022, as STEPN gained more users and the buzz surrounding it grew. Since then, a cryptocurrency bear market caused by the demise of Terra’s ecosystem has put tremendous selling pressure on GMT. GMT reported a 66% monthly loss in May, and they increased it by almost 28% in June.

Since May 2022, the GMT token has only experienced monthly increases in July. As of November 22nd, 2022, the token’s value has dropped by around 55% in the past 90 days, and it now floats above the $0.35 level.

Other significant developments

Here are a few additional significant STEPN-related advancements that have occurred in recent months:

• In its “latest attempt to introduce new revenue sources,” STEPN introduced DOOAR, its decentralized exchange (DEX), on Solana in 2022. A 1% trading fee will be levied by the DEX, with most of the fees going to STEPN’s ecosystem fund.
• On July 12th, 2022, STEPN announced that during the second quarter of 2022, the game’s platform fees brought in $122.5 million in revenue. Initiating a GMT buyback and burn program will be funded with 5% of profits, the company’s press statement states.
• On July 22nd, 2022, STEPN unveiled a brand-new feature for its sneakers called health points, or HP. “HP now gives STEPN sneakers a lifespan. Without HP, there would always be a supply of sneakers, leading to inflation and, eventually, a price decline, according to STEPN.
• A new GMT earnings plan, which would change dynamically every five minutes, dependent on the number of live GMT earners, was unveiled by STEPN on August 8th, 2022.
• The Japanese messaging service LINE and STEPN announced a cooperation on August 9th, 2022, to “use LINE Blockchain in the localization of STEPN for the Japanese market.”

STEPN price prediction: Targets for 2023 and beyond

The most trustworthy price forecasts for STEPN (GMT) have been compiled below from well-known forecasting websites.

STEPN Price Prediction 2023

According to TradingBeast’s STEPN price projections for 2023, the coin will cost more than $0.676609 by December. PricePrediction.net’s prediction for the future of STEPN predicts that it will continue to rise and that its price will eventually reach $0.680582. On the other hand, WalletInvestor consistently forecasts a drop in the price of STEPN, estimating prices to be around $0.259644 in 2023.

STEPN Price Prediction 2024

Everyone anticipates STEPN’s price to decrease by the end of that year, according to the experts’ projections for the cryptocurrency’s price in 2024. PricePrediction.net projects a decline in price to $0.377664. TradingBeast’s analysis indicates that STEPN’s price may fall as low as $0.169152. The prediction from WalletInvestor is likewise not very optimistic; according to its analysts, the price of STEPN will be at $0.310786 by 2024.

STEPN Price Prediction 2025

The STEPN market will not expand in 2025, according to PricePrediction.net and WalletInvestor, who forecast that the price will fall to $0.192766 and $0.023604 by the end of the year, respectively. Other STEPN pricing predictions concur with the hypothesis: By December 2025, TradingBeast predicts STEPN will decrease to $0.17761.

STEPN Price Prediction 2026

According to crypto specialists’ research of STEPN expenses, the maximum and minimum GMT prices for 2026 are projected to be $10.44 and $8.75, respectively. It will typically exchange hands for $9.07.

STEPN Price Prediction 2027

The variations of STEPN are always being studied by crypto professionals. They anticipate that the average GMT price will be in the neighbourhood of $12.92. It might fall to at least $12.47, but it might rise to $15.46 by the end of 2027.

STEPN Price Prediction 2028

Each year, STEPN price predictions are created by cryptocurrency specialists. In 2028, it is predicted that the price of GMT will fluctuate between $17.41 and $21.40. Throughout the year, its average cost is anticipated to be around $18.06.

STEPN Price Prediction 2029

Cryptocurrency experts are prepared to provide their predictions for the price of STEPN. The highest GMT price of $30.84 will be the benchmark for the year 2029. However, it may decrease to about $25.26. Therefore, $25.98 is the anticipated average trading price.

STEPN Price Prediction 2030

Regarding long-term STEPN pricing forecasts for 2030, specialists offer two opposing viewpoints. PricePrediction.net predicts that before the end of the decade, the price of STEPN will increase further and reach $0.672714. The forecast of an upward trend to $0.751394 echoes the price prognosis for STEPN made by WalletInvestor. However, TradingBeast’s outlook is still not great, predicting a decline to $0.108342.

STEPN Price Prediction 2031

Cryptocurrency experts are prepared to provide their predictions for the price of STEPN. The maximum price for GMT will be $67.57 in the year 2031. However, it may decrease to about $56.19. Therefore, $58.13 is the anticipated average trading price.

Conclusion

The study above shows that the STEPN (GMT) projections are somewhat incoherent. Whether future GMT price changes will be good or negative, there is no general agreement. Indeed, various elements, including announcements, new technology advancements made by STEPN projects, the overall crypto ecosystem, the legal situation, and others, will influence potential growth in the future. We would like to gently remind you to research before making any crypto investments.