GMT, the native token of STEPN, has seen a rise in price in the last 24 hours as the entire crypto market continues to rally. After breaking its resistance from its recent slump, will the digital asset continue its upward surge to hit new price levels?
STEPN is a self-described “Web3 lifestyle app” with GameFi components on the Solana blockchain. STEPN seeks to transform the fitness application business by encouraging millions of users to lead healthier lifestyles.
The foundation of STEPN is movement, which is a necessary daily activity for the majority of individuals. The move-to-earn project fuses elements of a play-to-earn game and fitness software. Users can earn game currency by jogging, running, or walking outside. This currency can either be utilized in-game or cashed out.
Aside from paying users monetarily, STEPN plans to include components of social rewards and successfully contributes to carbon neutrality.
GMT Price Recovers and Breaks Resistance, Time to Buy the Dip?
The overall cryptocurrency market has kept up its strong trend, reporting profits as investors continue to have faith in the performances of their coins. The crypto market is up 8.27% today, with major coins leading the way with impressive results.
GMT has also recovered from its recent slump. The digital asset currently trades at $0.48, indicating an uptrend of 12.28% in the past 24 hours. Investors should be impressed by GMT’s rebound since its performance is better than the overall market.
Technical analysis shows that GMT is on a slightly bullish run. For the short term, the digital asset trades above the 50-hour simple moving average (SMA) indicator at $0.46. The long-term MA indicators, however, remain far from the price, with the 200-day MA standing at $0.84.
GMT has broken through the $0.38 Fibonacci retracement and is heading toward the $0.5 support. A sustained rally could see the token cross most of these indicators, so investors should watch how GMT performs.
Likewise, the moving average convergence and divergence (MACD) value of the crypto asset exhibit a sell signal.
However, the digital token’s Relative Strength Index (RSI) is 50.14, showing that the GMT trades in the underbought region. With the recent surge and rise in the broader market, investors may want to take advantage of this opportunity to buy GMT.
STEPN Gets More Recognition After Being Discussed at the British Embassy of China
Two brothers, Jimmy, and Tommy Lindesay recently completed their run along the full length of the Great Wall in China. The boys’ father, William Lindesay, also participated in the same expedition in 1988.
Great presentation from the @Lindesaybros at The British Embassy of China detailing their recent trip running The Great Wall of China proudly supported by #STEPN ⚡️
🗓️ 78 days
🗺️ 2470KM travelled
💝 3 marriage proposals pic.twitter.com/YReI2tPNPD
— STEPN | Public Beta Phase V (@Stepnofficial) January 6, 2023
The brothers spoke about their expedition at the British consulate in China, which was supported by STEPN (GMT). Jimmy and Tommy covered 3,263 kilometers in 131 days, equivalent to running two marathons every day for more than six months. The brothers, who are half Chinese and half British and aged 28 and 21, were raised near the Great Wall.
A few highlights ⚡️
🟩 Building the first Move and Earn app, pioneering a new movement
🟩 Growing our user base from a few 1000s to Millions!
🟩 Real tangible partnerships
— STEPN | Public Beta Phase V (@Stepnofficial) December 31, 2022
The completion of the feat has brought much recognition to the brothers and their sponsor, STEPN. The move-to-earn lifestyle and fitness app reported that its user base jumped from thousands to millions.
Alternative Value Driven Assets at Presale to Invest in
Despite GMT’s potential for growth and improved market dynamics, investors should keep in mind that other value-driven altcoins can also provide gains. Some of these coins are currently in the presale stage, so investors can be early adopters.
The Meta Masters Guild coin ($MEMAG), an ERC-20 token, is one of the best alternative presale assets. The Meta Masters Guild (MEMAG) is the first web3 gaming guild available only on mobile devices. The platform aims to create a decentralized gaming environment through high-quality, blockchain-integrated mobile games. As a result, their users will be able to profit from their ecosystem contributions.
Don’t miss out on the MEMAG presale!🚀
With the $MEMAG tokens, you can unlock new gaming possibilities. 🕹️
Get rewards, buy NFTs, and stake! 💰
Level up your gaming experience today!🪙🏆https://t.co/SBqVjX5mWn#Presale #Play2Earn #Crypto
— Meta Masters Guild (@MEMAGgames) February 15, 2023
Players will receive “Gems,” in-game incentives that can be exchanged for MEMAG tokens, allowing them to withdraw funds or reinvest them in the ecosystem.
MEMAG is currently in the final stage of a seven-stage presale, with over $4.66 million raised. However, it’s not too late to get on the wave and buy the token for a low price of $0.023. Once $4,970,000 has been raised, MEMAG will end its presale.