The entire crypto-sphere has been displaying downward trends this year due to the ongoing Ukraine-Russia conflict, the burdening of the space with multiple regulatory orders, the world’s steady entry into a phase of recession, and many more factors.
And yet, some cryptos have performed comparatively well this year, despite not falling in the conventional mix, and STEPN is one of them. Ever since its launch in 2022, the price of STEPN crypto has been on a significant rise, surging by over 2000%. Despite a crash last week, STEPN has shown an impressive revival, once again approaching $3.5, which it may cross if volumes remain high continually.
This article showcases a comprehensive, fact-based understanding of the STEPN price prediction for the current and future years. But first, it is important to understand the basics of this crypto to understand the various factors affecting its price performance.
STEPN Price Prediction – Overview
- In the short term, it seems STEPN could be affected by international events, price and operational regulations by governments, and other temporary ups and downs that are affecting the entire crypto sphere for the time being.
- STEPN could consolidate in the near future to surpass its current range of above $3 and even reach above the $5 limit by 2023.
- The interest from investors, the small market cap, and the many unique features that the game has to offer, especially in line with user bases that are inclined towards including fitness as part of their regular regime.
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About STEPN
STEPN (GMT) is a web3 lifestyle app that includes SocialFi and GameFi capabilities. They have successfully upgraded an old notion of exercising to move to earn into something that is now completely functioning and widely used in the blockchain business. The objective is to encourage socialization while also assisting users in living a healthy lifestyle, which is now possible thanks to STEPN.
STEPN was created by a fintech studio that is based in Australia and is known by the name of Find Satoshi lab. The company has made a number of contributions in the past, including winning the Solana Ignition Hackathon Gaming Track in 2021.
After downloading the app, the user must connect their wallet and transfer Solana (SOL) cryptocurrency in order to purchase NFT sneakers and begin their STEPN trip. Because SOL is the primary money used by the STEPN app, it is required that users have it in their wallets.
To begin your voyage with STEPN, you’ll need NFT sneakers, which you can get with SOL. Users may pair their sneakers with their app and walk, jog, or run outdoors anywhere in the world, earning points in the process. These points are referred to as game currency, and they can be spent for a variety of purposes, including upgrading sneakers or NFTs, leveling up, or cashing out the money in the real world.
After completing the enrollment process, users must purchase a pair of sneakers from the in-app marketplace. After following the instructions, one can begin their trip with STEPN and receive free GST tokens on a daily basis, as well as other rewards.
STEPN Tokenomics
The GMT token has a total quantity of 6,000,000,000 and a current circulating supply of 600,000,000.00.
The advanced functionality of these tokens includes the use of NFT shoes in solo mode and the ability to earn tokens simply by going around regardless of location. Earning GST tokens necessitates the expenditure of energy, which is determined based on your application’s steps. 1 energy = 5 minutes of movement or movement gain, according to the calculation.
But under the condition, energy can only be recharged if the user purchases an NFT shoe. Users can begin the procedure by selecting an NFT shoe from the application of their choosing and starting the process.
Users should be able to see the status at the top of their screen after successfully completing all of the signup stages, which will reflect their current position, whether walking or running. Another indicator that may be seen is moonwalking, which refers to the usage of a car or any other mode of transportation other than one’s own muscles to travel.
Users will not be able to earn any GST or GMT tokens in that event, as it would negate the objective of STEPN as a health-promoting community.
STEPN Latest News
The GMT token’s price has recently increased by moreover 2000%, making it one of 2022’s best-performing web3 cryptocurrencies.
STEPN (GMT) is now trading around $3.32 as of Apr. 27, 2022. Its 24-hour trading volume on exchanges is around $1,472,160,084 USD. Its current CoinMarketCap ranking is #51, with a live market cap of $2,004,543,430 USD.
Factors Affecting STEPN Price Trajectory
To understand how the STEPN crypto will fair in the coming years, we need to understand the unique benefits and features it has to offer if any. Interestingly, the STEPN app combines three popular components in the blockchain realm, making it a popular choice among cryptocurrency users.
It’s a web3 app with fantastic GameFi and Social-Fi features. Users not only communicate with other members of their community, but they also stay in shape while earning cryptocurrency as a reward.
The addition of members such as Scott Dunlap to the team of advisors, who is currently also the Vice President at Adidas, is also a step in the right direction, giving out a positive message to interested investors. STEPN could also partner with Adidas in the future, which makes prospects even brighter.
Apart from the above, STEPN also comes equipped with some unique features, including a burn mechanism and an interesting dual token model.
Burn Mechanism
Due to the limited quantity of STEPN tokens, a burn mechanism is required in order to help more and more people live a healthy lifestyle. Through various in-app actions, this method is used to reduce the circulation of both the GMT and GST tokens.
Dual Token Model
Because of the requirement for fundraising and usefulness, the STEPN ecosystem uses a dual-token economy approach. There are two tokens accessible in this situation, each of which can be earned in a different way.
Token of the Green Metaverse (GMT) is the STEPN project’s native coin, with a finite supply of six billion tokens. It can be obtained in a variety of methods, including by participating in the Token Generation Event (TGE), where it can be minted.
The Green Satoshi Currency (GST) is an in-game utility token that can be used to buy items in the app. GST, unlike the GMT token, has an infinite supply and maybe minted in the game by performing basic actions.
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STEPN Price Prediction 2024
GMT, STEPN’s native token, has undergone parabolic increases in recent weeks, rising over 2500 percent from its all-time low of $0.100826 to an all-time high of $3.81 on April 19th.
According to crypto analysts, the price rally around GMT will accelerate, with a break of $5 as the next short-term target. With Bitcoin still hovering around the $45k mark, no one can predict when it will happen. Also, because GMT’s market cap is modest in comparison to other crypto projects, a dramatic spike or reduction in price is possible, which is why DYOR is so vital.
STEPN Price Chart via CoinMarketCap
In the long term, it seems STEPN is in for a bullish ride. Despite a predicted decline in value in 2022 due to unfavorable circumstances for the entire crypto market, the token is expected to rebound in 2023 and might head for impressive values even above $5 soon.
It is important to note that such STEPN price forecasts should not be utilized as the main basis for determining your investing strategy. Before making an investment, thorough due diligence, including reading the white paper, roadmap, and social media platforms should be supplemented with independent, third-party advice.
Potential Highs and Lows of STEPN
STEPN, a GPS-based game, stands out from the rest thanks to a novel concept in which the app analyses your activities and steps in a similar way to a Fitbit.
A pair of virtual sneakers must be purchased by the user. Because these are newly minted NFTs, you can resell them on the market and possibly profit enough to acquire a better pair.
Each pair of sneakers is similar to a two-dimensional Pokémon, with its own set of stats and rarity. The statistics dictate how long you can run before recharging. They may also provide you with a speed bonus, allowing you to earn more GST while on the road. The best part is that you can easily import them into the game and use them right away. All these factors make STEPN a prime forerunner to larger growth, potential investments, and community popularity.
How do Players Earn on STEPN?
While you will need sneakers to begin earning on STEPN, you will not need to purchase anything in order to begin jogging. New users can get a free trial of the app and all of its features. The earning meter will start filling up while you run if you’re ready to commit and have some STEPN footwear.
There is a daily restriction to how much you may run with the app, which means your profits are limited. You get a small amount for free every day, plus some from your footwear, and it’s called Energy.
Although high-quality sneakers provide a lot of Energy, there is a limit to how much you may have per day. This is equivalent to 100 minutes of running. Even if your Energy runs out, you can keep running, but the earning meter will stop until the next day.
You must also keep up with a speed meter in order to continue earning. This is one of the most difficult components of the game, as it requires you to be in top physical condition on each run.
How to Start Running and Earning with STEPN: A Step-by-Step Guide
To buy STEPN, players need to have access to a decentralized exchange, such as PancakeSwap. The entire process doesn’t take more than a few minutes, but you need to follow a step-by-step procedure that we have outlined for you below:
1. Download and Register on the STEPN Application
The first step toward playing the STEPN game is to download the application from the STEPN website and create an account on it. You can use your email address or phone number for the same.
2. Create a Wallet inside the Application
To be able to store your in-game currency, and receive or expend it, you will need to create an in-game wallet as well. The process is simple and takes a few seconds to complete.
3. Register on a Broker or Exchange of Choice
To start playing the world’s first move2earn NFT mobile game, users must first create an account on a broker or exchange of their choice. The GMT coin for governance is available on Binance, Bybit, and Coinbase, while SOL (Solana), the only token you can use to buy NFT sneakers, is available on most of the leading crypto exchanges.
Simple visit the website of the respective exchange, choose the ‘sign up’ option, and register using your email or mobile number.
4. Buy SOLANA (SOL) tokens
Next, users must proceed to the ‘Buy Crypto’ option while navigating the website and choose the befitting purchase option based on their country. For better coin compatibility, you can even choose to buy a stablecoin like USDT or BUSD first, and then use this coin to buy SOL.
The exchange will present you with the option to make the purchase using a credit/debit card, bank deposit, P2P trading, or even third-party payment using wallets.
Once you have purchased the SOL crypto, you need to transfer them to your wallet on STEPN. The energy level will rise at a pace of 25% every 6 hours after purchasing the Sneakers (Fixed at AEDT Time 00:00, 06:00, 12:00, 18:00). After the first 25% of your energy has been restored, you can begin moving and earning.
5. Buy Sneaker NFTs on Magic Eden
Proceed to the Magic EDEN NFT marketplace and purchase the sneaker NFT of your choice. You will be able to see the current floor price of sneaker NFTs on the platform, the total volume across marketplaces, the average sale price as well as total listed count.
Your capital is at risk.
Why Buy STEPN in 2024?
With a current market cap of only $2 billion and a lot of interest from venture capital investors, STEPN seems poised to break all records of growth in the times to come.
There are also additional factors that could work in its favor:
Future Advancements
At the moment, just the Solo Mode is available in the game. But the STEPN team intends to offer Marathon and Background Modes soon.
Users will earn tokens by completing weekly or monthly Marathons (e.g., 5km, 10km, 15km) assignments in the Marathon mode. Users must register for these events and pay a nominal registration fee in order to participate. This cost will be returned once the assignment is completed. If this is not the case, the fees will be pooled and used for leaderboard rewards.
Users that use the app in background mode receive passive income without actively utilizing it. They hold a Sneaker in this mode, and when they walk, the steps are calculated straight from the Health Data app on their mobile smartphone.
Unique ‘Sneaker NFT’ Concept
Sneakers are NFTs required to play the STEPN game (walk, run) and gain GST/GMN prizes. Sneakers contain a variety of features, including Efficiency, which plays a part in GST earnings, Luck, which determines the frequency and quality of Mystery Box drops, Comfort and Resilience which determines the decay rate of Durability.
There are four different varieties of Sneakers in the game right now. GST tokens can be burned to level up Sneakers. There are also some techniques for resetting the Sneakers’ characteristics and burning GST/GMT.
STEPN Price Prediction – Conclusion
In the short term, it appears that STEPN could be impacted by worldwide events, government price and operational rules, and other transient ups and downs that are currently affecting the entire crypto-sphere. STEPN could consolidate in the foreseeable future, surpassing its current range of above $3 and possibly crossing the $5 mark by 2023.
The game’s time gating features are currently not working to its advantage. If STEPN wants to keep players motivated, it must give them more opportunities to play. STEPN’s earning potential currently pales in contrast to the majority of NFT games. If the brand wants to have even a minor advantage over the competition, in the long run, this needs to alter as soon as feasible.
The game’s many distinctive features, as well as investor interest and a small market value, make it appealing to a user population that is predisposed to include fitness as part of their normal routine.
Our price prediction says that the value of STEPN is in for good growth in the times to come. But we would always recommend you keep a cool head when it comes to crypto investments, and never put in more than you can afford to lose.
FAQs
What is STEPN?
STEPN (GMT) is a web3 lifestyle software with features like SocialFi and GameFi. They've successfully improved an ancient concept of moving to earn money into something that's now fully operational and frequently used in the blockchain industry. The goal is to promote sociability while also supporting users in leading healthier lives, which is now feasible thanks to STEPN.
What will be STEPN’s value in the years to come?
In the near future, STEPN could consolidate, surpassing its current range of above $3 and possibly crossing the $5 barrier by 2023. The game's many distinguishing qualities, as well as investor interest and a low market value, appeal to a user base that is inclined to include fitness into their daily routine.
What was STEPN’s highest marketcap?
The highest marketcap for STEPN was reached on April 19, 2022, at $2.26 billion.
What was the starting price of STEPN?
The starting price of STEPN was at $0.14 and has now reached a floor price of $3.4.
Is STEPN a good investment?
The game's many distinguishing qualities, as well as investor interest and a low market value, appeal to a user base that is inclined to include fitness into their daily routine. According to our forecast, the value of STEPN will continue to rise in the near future. However, when it comes to crypto investments, we always recommend keeping a level head and never investing more than you can afford to lose.
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