Fitness Token GST Falls After Ban in China

GST, a non-fungible token (NFT) tied to fitness app STEPN, dropped around 10% after its operator said it would be banned in China this summer. As Bloomberg reported Friday (May 27), a second cryptocurrency tied to the app, GMT, fell more than 30% before recovering.

Timeline of Green-metaverse-token

STEPN, a cryptocurrency trading game that offers nonfungible tokens (NFTs), will ban users in mainland China in order to comply with Chinese regulatory standards. Starting from mid-summer, the move-to-earn game will block geolocation services for users in mainland China.

STEPN, a move-to-earn blockchain project had exploded by a staggering 20,000% after launching earlier this year. In fact, the move-to-earn fitness app also saw native token(s) register strong gains in March and April.

GMT, the token of recently hot “move-to-earn” mobile running game STEPN, went up nearly 39% in mid-May. In fact, the move-to-earn fitness app also saw its token GMT register strong gains in March and April.

One of the popular crypto traders known as @AlgodTrading or also known as Algod had recently made a prediction that Terra's stablecoin USDT will fall drastically and now expects STEPN (GMT) to follow TerraUSDT. Algod, Terra's critic had pointed out that UST/LUNA is unstable and they had also bet against Do Kwon, Terra's founder on …

The gaming tokens surge along with the metaverse token as well as Decentraland surged by almost 35% so let's read more about it in today's latest altcoin news. Following the week's crypto market collapse, the gaming tokens surge and are seeing some bigger recoveries.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. In April, Bitcoin and most of the altcoin market as well were in decline, but GMT rallied from the $2.1 support, as high as $4.17 in late April.

Amid the recent market instability, the global market capitalization was on the verge to plunge below the crucial $1 trillion mark. However, the recent recovery of the star crypto Bitcoin beyond $30K helped the crypto asset to recover to a large extent. The DeFi's, NFT's, and other popular cryptos marked huge gains in a very …

Every now and then an altcoin comes along that goes up and up and shows no sign of slowing down, despite some pullbacks. In late 2021 that was Shiba Inu, now, in Q2 2022 is STEPN.

A closely followed crypto analyst is outlining what's ahead for Ethereum rival Solana (SOL) and move-to-earn protocol STEPN (GMT). In a strategy session, DonAlt warns holders of smart contract platform Solana that SOL looks bearish on the high timeframe charts after converting weekly support at $140 into resistance. According to DonAlt, the price action suggests The post Here's What's Next for Solana (SOL) and Red-Hot Altcoin STEPN (GMT), According to Crypto Strategist appeared first on The Daily Hodl.

The most recent STEPN price analysis confirms a bullish trend for today as the coin broke past the resistance present at the $2.72 level. Some stronger corrections were recorded in the price level for the last two days, but today the trend changed, and bulls took over the market.