Right now, STEPN (GMT) is priced at $0.209135, CMC data shows, with a jaw-dropping $2.80 billion in 24-hour trading volume. That’s some serious action for a token with a mere market cap of $230.35 million and a modest 0.01% market dominance. The big headline is that GMT surged 56.16% in the past day—a move that’s definitely caught the market’s attention. The Fear & Greed Index sits fine at 74, which means we’re deep in the “Greed” zone. Translation: traders are feeling bold.
Source: coinmarketcap
STEPN has 1.10 billion tokens in circulation out of its 6.00 billion max supply. But here’s the kicker—less than 18% of that total supply is out in the wild, which keeps liquidity on the lower side. The past year hasn’t been kind, with the price taking a 32% tumble and GMT underperforming 89% of the top 100 crypto assets. Still, the token has held its ground above the 200-day simple moving average, which is like a small pat on the back for resilience. And those 17 green days out of the last 30? Not bad, at least. Maybe this is a sign things are turning around.
Historical Performance and Future Potential
Let’s rewind to March 2022. GMT launched at just $0.01 during its IEO, and since then, it’s been quite the fortune trip. It’s now worth 20.87x more against the US Dollar, 16.61x against Ethereum, and 8.96x against Bitcoin. Not too bad. Its best year was 2022 when it jumped a whopping 68.37%. Compare that to 2023, which enjoyed a more modest 38.82% rise—like going from a wild party to a low-key dinner.
The future, though, has a lot of promise if analysts are to be believed. Predictions have GMT shooting up by 252.26% to $0.691028 by January 2025. And in just five days, it could climb to $0.261691—a tidy 24.25% gain. Not bad for a week’s work, so to say. For 2024, experts think GMT will bounce between $0.196168 and $0.241232, with an annual average of $0.217028. That’s a potential 14.59% return, which isn’t going to make you rich overnight but could be a nice little win for patient investors.
The Job of GMT in the STEPN Ecosystem
So what’s the deal with STEPN? It’s more than just another blockchain project—it’s a move-to-earn app on the Solana network, blending gaming, social features, and fitness to keep users hooked. Think of it as gamifying your daily jog but with crypto rewards. It uses two tokens: GST (Green Satoshi Token, utility game token) and GMT (Green Metaverse Token, governance token). If you hold GMT, you get to vote on decisions within the ecosystem and enjoy other perks.
STEPN is trying to crack a tough nut: making move-to-earn a mainstream hit. Many others have tried and fizzled out, but STEPN is betting its mix of gamification and Web3 tech will break through. The project’s vision feels fresh, even if the market has thrown it a few curveballs.
Technical Fingers Point to a Blend of Opportunity and Risk
STEPN’s GMT chart shows RSI, critical support and resistance levels, and 200-day SMA. Source: CoinCodex
On the technical side, things are looking pretty good for now. The Relative Strength Index (RSI) sits at 45.11—pretty neutral territory. Meanwhile, the 50-day simple moving average is forecasted to rise to $0.31459 by January 2025, with the 200-day SMA expected to hit $0.188666. Support levels hover around $0.134231, $0.114714, and $0.098343, while resistance levels stand at $0.17012, $0.186491, and $0.206009. Basically, GMT’s chart has a bit of everything—opportunity and risk.
Looking far-term, analysts predict the price could skyrocket to $1.472572 by 2029. That’s a 604.72% increase—enough to make even the most careful trader raise an eyebrow.
FAQs
1. What is the current price of STEPN (GMT) and its market sentiment?
The current price is $0.209135, with a bullish sentiment and a Fear & Greed Index at 74, inking “Greed.”
2. What is STEPN’s main purpose?
GMT is a move-to-earn app that marries gaming, social features, and fitness on the Solana blockchain, rewarding users for being active.
3. What is the STEPN price prediction for January 2025?
Analysts foresee the price could uprun by 252.26% to take $0.691028 by January 2025.
The post STEPN (GMT) Price Action, Dec. 27: Bullish Signs for GMT; Could This Move-to-Earn Token Arrive $1 Soon? appeared first on Coinfomania.
