Stepn (GST) is competing in the fitness industry using cryptocurrencies and the blockchain.<\/p>\n
Stepn is a smartphone software built on Solana and produced by app developer FindSatoshi Lab that allows users to earn money by jogging, running, or walking.<\/p>\n
Under the influence of this bearish market, however, the price of GST (Green Satoshi Tokens) has fallen below the $1 critical support level. The coin is currently trading at $0.18, representing a 97 percent decline from its all-time high of a little over $9 on April 28.<\/p>\n
To prevent the ecosystem from imploding, the coin must once again attract purchasers like it did during that month.<\/p>\n
Suggested Reading | Bitcoin Steady Above $20K After Drop To $17K \u2013 A Slow Climb To Green?<\/p>\n
Can 3 Million Stepn Users Help Boost GST Price?<\/p>\n
The NFT-based exercise app has amassed 3 million active users each month. Given the high number of customers, market experts wonder if this will cause the GST price to rise slightly.<\/p>\n
Similar to Fitbit, Stepn is a GPS-based game in which the app counts your activities and steps. To begin running, you must acquire a virtual pair of sneakers. These newly-minted NFTs can be resold on the market for a possible profit to purchase a better pair.<\/p>\n
By the way, the Stepn app doesn\u2019t work with a treadmill or any other electric-powered gym equipment: you must use your legs, and run outside of the house.<\/p>\n
Two months ago, Web3 employees would boast on Crypto Twitter about making up to $30 just by running. At the time, one pair of Stepn\u2019s NFT sneakers cost a\u00a0whopping\u00a0$600 (priced in SOL).<\/p>\n\n
Crypto total market cap at $905 billion on the daily chart | Source: TradingView.com
\nGST Price Drops Lowers<\/p>\n
Those that engage in physical exercise can earn GSTs. Different types of sneakers refund GST at varying rates; the better the efficiency attribute of a sneaker, the more GST the user can earn per minute. At the peak of GST, you might get your money back in approximately 30 days.<\/p>\n
Now, GST is only 18 cents, and jogging a few miles with an entry-level footwear NFT will earn you less than $1, which is a far cry from the easy\u00a0$30 you could earn by running a short distance.<\/p>\n
GST was the most popular cryptocurrency earlier this month when the token\u2019s price was closer to $1; however, despite the excitement and a 30 percent increase on June 8, GST\u2019s price fell further.<\/p>\n
GST has a market cap of only $23 million and ranks #529 on CoinMarketCap. The market capitalization of GMT is at $365 million, down from $4.17 and over $2.2 billion at its peak on April 28.<\/p>\n
Suggested Reading | ApeCoin Shed $2.5 Billion From Its Market Cap In May \u2013 Investor Appetite Fading?<\/p>\n
Featured image from RationalInsurgent, chart from TradingView.com<\/p>\n
\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Stepn (GST) is competing in the fitness industry using cryptocurrencies and the blockchain.<\/p>\n
Stepn is a smartphone software built on Solana and produced by app developer FindSatoshi Lab that allows users to earn money by jogging, running, or walking.<\/p>\n
Under the influence of this bearish market, however, the price of GST (Green Satoshi Tokens) has fallen below the $1 critical support level. The coin is currently trading at $0.18, representing a 97 percent decline from its all-time high of a little over $9 on April 28.<\/p>\n
To prevent the ecosystem from imploding, the coin must once again attract purchasers like it did during that month.<\/p>\n
Suggested Reading | Bitcoin Steady Above $20K After Drop To $17K \u2013 A Slow Climb To Green?<\/p>\n
Can 3 Million Stepn Users Help Boost GST Price?<\/p>\n
The NFT-based exercise app has amassed 3 million active users each month. Given the high number of customers, market experts wonder if this will cause the GST price to rise slightly.<\/p>\n
Similar to Fitbit, Stepn is a GPS-based game in which the app counts your activities and steps. To begin running, you must acquire a virtual pair of sneakers. These newly-minted NFTs can be resold on the market for a possible profit to purchase a better pair.<\/p>\n
By the way, the Stepn app doesn\u2019t work with a treadmill or any other electric-powered gym equipment: you must use your legs, and run outside of the house.<\/p>\n
Two months ago, Web3 employees would boast on Crypto Twitter about making up to $30 just by running. At the time, one pair of Stepn\u2019s NFT sneakers cost a\u00a0whopping\u00a0$600 (priced in SOL).<\/p>\n
Crypto total market cap at $905 billion on the daily chart | Source: TradingView.com
\nGST Price Drops Lowers<\/p>\n
Those that engage in physical exercise can earn GSTs. Different types of sneakers refund GST at varying rates; the better the efficiency attribute of a sneaker, the more GST the user can earn per minute. At the peak of GST, you might get your money back in approximately 30 days.<\/p>\n
Now, GST is only 18 cents, and jogging a few miles with an entry-level footwear NFT will earn you less than $1, which is a far cry from the easy\u00a0$30 you could earn by running a short distance.<\/p>\n
GST was the most popular cryptocurrency earlier this month when the token\u2019s price was closer to $1; however, despite the excitement and a 30 percent increase on June 8, GST\u2019s price fell further.<\/p>\n
GST has a market cap of only $23 million and ranks #529 on CoinMarketCap. The market capitalization of GMT is at $365 million, down from $4.17 and over $2.2 billion at its peak on April 28.<\/p>\n
Suggested Reading | ApeCoin Shed $2.5 Billion From Its Market Cap In May \u2013 Investor Appetite Fading?<\/p>\n
Featured image from RationalInsurgent, chart from TradingView.com<\/p>\n
\u00a0<\/p>\n
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