Move-To-Earn Token STEPN Dashes Into Top-50 Cryptos, Here's How

CoingapePublished on 2022-04-28Last updated on 2022-04-28

Abstract

Solana-based move-to-earn token STEPN (GMT) is now the 48th largest cryptocurrency by market value, following a recent price surge.

Solana-based move-to-earn token STEPN (GMT) is now the 48th largest cryptocurrency by market value, following a recent price surge. The token’s latest rally is spurred by the addition of the project to several popular marketplaces.
GMT, the governance token of the project, rallied nearly 20% in the past 24 hours to a record high of $4.1024, data from Coinmarketcap showed. The token has rallied over 3000% in the past three months, and is among the best-performing cryptos this year. Its current market capital is about $2.3 billion.
The token’s initial rally was sparked by speculation that STEPN will partner with a major sports brand this year. While the STEPN is yet to make an announcement on the matter, hype around the possibility boosted its token.
STEPN now supported by Coinbase, OpenSea
In a big boost for adoption, world no.3 crypto exchange Coinbase said it will now support STEPN’s two tokens, GMT and GST. GST, which is the token through which STEPN users are given incentives, will be given an “experimental asset” label by Coinbase.
GST surged nearly 20% in 24 hours, and is trading around $6.
OpenSea, the world’s largest NFT marketplace, said it will now support the trade of STEPN’s sneaker NFTs. The sneaker NFTs grant access to STEPN’s move-to-earn features. The NFTs are also among the first Solana-based tokens supported by OpenSea, which until recently supported only Ethereum-based NFTs
The Coinbase and OpenSea integration follows earlier support by Binance for both GMT and STEPN’s sneaker NFTs.
Move-to-earn in vogue
STEPN’s growing popularity also appears to have spilled over to other tokens. Data from Coinmarketcap shows that move-to-earn tokens were the best performing category in the past 24 hours, up an average 11%.
Polygon-based move-to-earn token DEFIT rallied 44% overnight after it announced plans for a new mobile app and website. Augmented reality sports token Dotmoovs (MOOV) surged 22%, while the second-largest move-to-earn token, Genopets (GENE), added 2%.
Still, STEPN is by far the biggest move-to-earn token by market capitalization, at over $2 billion. By comparison, GENE’s total value is $49.9 million.

Congress Advances CBDC Ban Until 2030 Through Major Housing Reform Bill

Congress has passed the 21st Century Road to Housing Act, a bipartisan bill primarily focused on housing reform to improve affordability and supply. Included within it is a significant provision that bans the Federal Reserve from issuing a central bank digital currency (CBDC) or "digital dollar" before December 31, 2030. The measure defines a CBDC as a dollar-denominated digital asset, a direct liability of the Fed, accessible to all Americans. Proponents argue the ban allows more time to study a digital dollar's impacts and addresses concerns about privacy, financial surveillance, and government overreach in digital payments. The provision specifically targets a retail CBDC but does not restrict permissionless blockchain networks. This crypto-related language, embedded in broader housing legislation, has drawn considerable attention for its potential to shape the future of digital assets and payments in the U.S. The bill's final passage will determine if the ban takes effect for the next decade.

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Congress Advances CBDC Ban Until 2030 Through Major Housing Reform Bill

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Research Report Analysis: MRVL's Optical AI Booming, Why High Valuation Keeps Morgan Stanley's Star Analyst Sidelined?

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qinbaFrank: Review and Outlook of the AI Computing Power Wave — From the Three Debates on NVIDIA to Optical Interconnect and SpaceX IPO, How is Capital Rotating?

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qinbaFrank: Review and Outlook of the AI Computing Power Wave — From the Three Debates on NVIDIA to Optical Interconnect and SpaceX IPO, How is Capital Rotating?

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A Country That Mined Bitcoin for 8 Years Has Built Its Own Dedicated Crypto Bank

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A Country That Mined Bitcoin for 8 Years Has Built Its Own Dedicated Crypto Bank

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