STEPN, a move-to-earn project based on Solana, saw its governance token GMT spike over 35% in April, broadly outpacing the crypto market.
While the token has consolidated from record highs hit during April, it appears to have begun May on a high note. GMT is up 1.1% in the past 24 hours at $3.53.
GMT’s gains through April saw it break into the top-50 cryptocurrencies by market capitalization. A bulk of the hype around GMT is driven by its potential partnerships with high-profile sports retailers.
Increasing popularity of the move-to-earn model is also expected to benefit the token.
STEPN set for big gains?
The STEPN team has outlined several plans to increase its platform growth and engagement. On Sunday, the project kicked off the fourth phase of its public beta, which includes an airdrop.
The project also appears to attracting some attention from major sports brands. In April, STEPN tied up with running shoes maker Asics to release an NFT collection through Binance. G
The GMT token was also recently added by top exchanges Coinbase and Gemini. NFT marketplace OpenSea adding trading of STEPN’s sneaker NFTs, a crucial part of the project.
GMT now sits at a market capitalization of over $2 billion. But by a price basis, the token still appears to be relatively cheaper than several other players in the top-50 crypto space. This relatively approachable price, coupled with a strong growth plan, could catapult the token higher.
Other move-to-earn tokens also rise
While STEPN is by far the biggest move-to-ear project, gains in its tokens have attracted buying into a slew of other similar projects.
Data from Coinmarketcap shows the space is the second-best performing category of tokens in the past 24 hours. The other top move-to-earn projects are all up between 3% to 40% in the past 24 hours.
Most notably, augmented reality token Dotmoovs (MOOV) surged over 34% in the past 24 hours,
- Hard Fork Vs Genesis Chain: Terra Team Clears Air Around Debate
- Prominent Investment Officer Predicts More Downside For Bitcoin Price, Here’s Why
- Investors Move $141 Million Out Of Crypto: CoinShares Report
- Just In: S. Korea Police Seek To Guard LUNA Assets
- Incoming Shiba Inu Rally? Over 22 Billion SHIB Tokens Burned Across 497 Transactions
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Just-In: South Korea May Sue Crypto Exchanges Over Terra Crash
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?