Stepn (GST), is competing in fitness using cryptocurrency and the blockchain.
Stepn is an app software that was built on Solana, and developed by FindSatoshi Lab. It allows users to run, walk, or jog for money.
The price of GST (Green Satoshi Tokens), however, has fallen below its $1 critical support level due to this bearish market. The price currently traded at $0.18. That’s a drop of 97% from the April 28 high of just over $9.
In order to keep the ecosystem from collapsing, it is important that the coin attracts buyers as in the previous month.
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Are 3,000,000 Stepn Users able to boost the GST Price?
Each month, the NFT-based exercise application has 3 million users. Market experts are unsure if the increased number of users will lead to a slight increase in GST prices.
Stepn works in the same way as Fitbit. It tracks steps and activity via a GPS. You will need a pair of virtual sneakers to start running. For a potential profit, these NFTs may be sold on the open market to make a purchase of a more expensive pair.
By the way, the Stepn app doesn’t work with a treadmill or any other electric-powered gym equipment: you must use your legs, and run outside of the house.
Web3 employees boasted two months back on Crypto Twitter that they could make $30 running just for running. At the time, one pair of Stepn’s NFT sneakers cost a whopping $600 (priced in SOL).
Crypto total market cap is $905 billion per day | Source: TradingView.com
GST Price Falles
GST can be earned by those who exercise regularly. There are different types of sneakers that refund GST. The more efficient a sneaker is, the higher the amount of GST a user can make per minute. In 30 days, you may get your cash back if GST is at its peak.
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 $30 you could earn by running a short distance.
GST was the most popular cryptocurrency earlier this month when the token’s price was closer to $1; however, despite the excitement and a 30 percent increase on June 8, GST’s price fell further.
GST is #529 on CoinMarketCap with a $23 million market cap. GMT has a market capitalization at $365million, which is down from $4.17 million and more than $2.2 billion when it reached its peak on April 28, 2017.
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Featured Image from RationalInsurgent. Chart from TradingView.com