GMT Price Prediction: Is STEPN worth it?
GMT Green Metaverse Token also known as STEPN, is a governance token. This token works on the first NFT initiative of move-to-earn. This initiative combines the healthy lifestyle app with social finance and play-to-earn games. Moreover, as a governance token, it also gives its users the power to vote in projects like treasury distribution.
KEY TAKEAWAYS
- GMT is an ERC-20 built on the Ethereum blockchain, a native token of the STEPN ecosystem.
- Due to NFTs, the demand for GMT tokens has been growing in the industry.
- In the past 24 hrs, the price of the GMT token increased by around 0.35%.
- The GMT toke price could hit a maximum of $8, by the year 2030
Green Metaverse Token GMT price prediction has gained traction in the crypto industry due to its exceptionally growing demand. As the token was able to gain 40% value while the rest of the industry was in shambles. This is a major indication of the growing interest in NFT technology. Moreover, some analysts also believe that GMT tokens might be able to drive the development of crypto in the coming days.
Though the current data shows that the GMT crypto may be in a bit of an odd situation as it has been showing bearish signs. In the last 7 days, its value dropped by 12% almost. But the recovery is also expected quite soon. In this article, we will discuss if GMT is a good investment by analyzing the current market trends and more. We will also share what is GMT and how it works.
GMT Price Prediction: Past Price Analysis
Green Metaverse Token GMT has been through various fluctuations despite its increasing demand. The Stepn crypto is currently trading at the price of $0.294 with a market cap of $220,079,688. Its 24-hour trading volume is $23,183,304 with a total supply of 5,537,362,601.
The past 4 months of Data suggest that the coin was able to maintain a stable price range throughout. In addition to that, there was also an increase in the trading volume of the coin which shows that more investors were showing their interest towards the token.
However, coming towards the last 3 months’ data the coin witnessed around almost 40% of the decline. While within the past month, its value dropped by almost 23% which led to the coin losing $0.088 from its previous value. This downtrend was a loophole for the investors so they may invest in it.
As in the past 24 hrs, the price increased by around 0.35% despite a drop for the last 7 days. This suggests that the coin is struggling to gain momentum currently. But we can expect an increase in the price of the token in the coming days because it presents some strong fundamentals.
What is STEPN GMT?
GMT is an ERC-20 native token of the STEPN ecosystem. As a governance token, it allows its users to participate in the decision-making process of the platform. By leveling up to 30 with their NFT sneakers STEPN users can earn this token. It can also be earned by participating in community events and also completing tasks that were designated by the STEPN team.
The GMT token can be used at the STEPN marketplace to purchase or upgrade NFT sneakers or pay for transaction fees or even participate in governance tokens. Moreover, the STEPN platform intends to integrate the GMT token in various DeFi platforms to enhance liquidity as well as utility. This will enable the GMT holders to stake their tokens and even earns rewards for it.
In addition to the halving process of the GMT coin, their team is also focusing on introducing a buyback and burn mechanism to further increase the scarcity of the token. Overall it is a promising project in the Game-Fi space especially.
Future Price Analysis of the STEPN GMT Token
In order to estimate the STEPN Price Forecast we need to go through certain aspects that help us in estimating that. This includes going through technical and fundamental analysis of a token.
The technical analysis comprises studying various technical indicators that may determine the potential of a token. For example, the Relative Strength Index RSI of the GMT token will help us know whether the coin is oversold or overbought. Then there are also other indicators like the token’s trading volume, historical market trends, and more.
As for Fundamental analysis, it helps us determine the price since its indicators directly influence the price of a token. These include the market sentiment or the protocol adoption.
Below you will find our take on analyzing the price predictions of GMT with the aforementioned analysis:
STEPN price prediction 2023
The price of the STEPN GMT token may reach a maximum of $0.4 by the end of the year 2023.
STEPN GMT price prediction 2025
By the year 2025, the price of STEPN crypto may hit a maximum of at least $0.9.
GMT price prediction 2030
If the market conditions remain in favor the GMT toke price could hit a maximum of $8 by the year 2030.
DID YOU KNOW?
- The amount of GMT earned depends on the user’s activity on the STEPN network and the efficiency of their sneakers.
- GMT holders may even suggest new features to add to the network.
- In the halving mechanism of the GMT token the
- STEPN platform also intends to create a secondary market for digital assets.
FAQs
Based on the fact that it is expected to grow in the future we can that it is a good investment.
The current fundamentals of the GMT token seem to be strong enough to indicate potential future growth. So we can say that the GMT token has a sound future ahead.
The GMT token can reach as high as closer to $0.4 by the end of 2023.
Conclusion:
Overall GMT token is a good player in the run of various crypto present in the market today. Thus the GMT price prediction is also gaining traction in the market today. Above of all NFT is a great contributor to that. With the increasing demand for cryptocurrency and NFT the GMT crypto will also increase in value. However, no matter what crypto a person intends to invest in there are always risks associated with it. Which is mostly due to the unpredictability and high volatility of the crypto market. Therefore it is important to make an informed decision before investing.