A way of life app that rewards customers for taking part in outside actions is seeing its latest token race up the charts.
STEPN (GMT), a move-to-earn blockchain undertaking that exploded by a staggering 20,000% after launching earlier this yr, is now gaining even additional momentum with the creation of a second digital asset on a special chain.
The health undertaking was initially constructed on Solana (SOL) with a dual-token system: Inexperienced Metaverse Token (GMT) for voting and staking and Inexperienced Satoshi Token (GST) for delivering rewards for strolling or working.
Now there exists a second model of GST that operates on the Binance Sensible Chain (BSC), which is rallying and decoupling from its Solana counterpart.
Colin Wu of Wu Blockchain explains the worth discrepancy to his 219,100 Twitter followers by noting that the BSC model is getting used to buy costly non-fungible tokens (NFTs). He additionally notes that there’s no bridge between the 2 chains.
“Stepn Token GST on BSC has exceeded $40, 9x in comparison with the GST worth on Solana. NFT flooring costs on BSC have been pushed as much as $13,000.
The primary motive is that Stepn didn’t construct a cross-chain bridge between Solana and BSC. Nevertheless, GMT is down 21% within the final 7 days.”
Crypto analyst and energetic STEPN consumer Nguyen Toan provides a undertaking breakdown and presents the next insights:
- Month-to-month energetic customers have skyrocketed by over 3,000% from 16,439 on February 1st to 588,001 by Might 1st.
- Month-to-month NFT sneakers minted rose by over 2,600% from 8,449 on February 1st to 234,765 by Might 1st.
- The present shoe-minting value is $472.80.
- The undertaking has allotted roughly $26 million to purchase again and burn GMT tokens.
STEPN customers can earn tokens by buying sneaker NFTs from the app and taking part in real-life train actions that are tracked by their telephone’s built-in GPS options. At the moment, solely the solo participation mode is functional, however the marathon and background modes are in improvement for future launch.
There may be additionally a function to mint customized NFT sneakers on the market in addition to convert GST for stablecoin US Dollar Coin (USDC).
Green Satoshi Token BSC is up 1.67% and buying and selling for $24.42 at time of writing. It hit a month-to-month peak of $45.19 again on Might eighth earlier than the general crypto market crash despatched it plummeting to as little as $9.10 on Might 14th.
In the meantime, the unique Solana model of STEPN Green Satoshi Token is down 5.81% on the day and priced significantly lower than its twin at $2.47.
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Featured Picture: Shutterstock/Marko Aliaksandr/Fotomay
