STEPN, a move-to-earn challenge primarily based on Solana, noticed its governance token GMT spike over 35% in April, broadly outpacing the crypto market.
Whereas the token has consolidated from document highs hit throughout April, it seems to have begun Could on a excessive notice. GMT is up 1.1% previously 24 hours at $3.53.
GMT’s features by April noticed it break into the top-50 cryptocurrencies by market capitalization. A bulk of the hype round GMT is pushed by its potential partnerships with high-profile sports activities retailers.
Rising reputation of the move-to-earn mannequin can be anticipated to profit the token.
STEPN set for giant features?
The STEPN workforce has outlined a number of plans to extend its platform progress and engagement. On Sunday, the challenge kicked off the fourth phase of its public beta, which incorporates an airdrop.
The challenge additionally seems to attracting some consideration from main sports activities manufacturers. In April, STEPN tied up with trainers maker Asics to launch an NFT assortment by Binance. G
The GMT token was additionally lately added by high exchanges Coinbase and Gemini. NFT market OpenSea including buying and selling of STEPN’s sneaker NFTs, an important a part of the challenge.
GMT now sits at a market capitalization of over $2 billion. However by a worth foundation, the token nonetheless seems to be comparatively cheaper than a number of different gamers within the top-50 crypto area. This comparatively approachable worth, coupled with a robust progress plan, might catapult the token increased.
Different move-to-earn tokens additionally rise
Whereas STEPN is by far the largest move-to-ear challenge, features in its tokens have attracted shopping for right into a slew of different related initiatives.
Information from Coinmarketcap exhibits the area is the second-best performing class of tokens previously 24 hours. The opposite high move-to-earn initiatives are all up between 3% to 40% previously 24 hours.
Most notably, augmented actuality token Dotmoovs (MOOV) surged over 34% previously 24 hours,
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