STEPN (GMT) Struggles To Hit $1, Is The Price Running Out Of Steam?

STEPN (GMT) has struggled to show its move in recent months after ranking as the top gainer for several weeks against tether (USDT). The price of STEPN has struggled to rally to $1 despite the market seeing relief bounces across the market, with many altcoins producing double-digit gains, with the price of STEPN (GMT) showing little or no steam left for a major rally.

Timeline of Green-metaverse-token

STEPN [GMT] is beginning to show signs of volatility again as the GameFi application continues to lose its strength of user growth. The GameFi-based Web3 application has become a target of bear market conditions in recent months like the majority of crypto assets.

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STEPN [GMT], a Web3 lifestyle application with social and game elements, recently registered a massive decrease in its user base. In the month of February, STEPN's user base surged considerably, as it grew more than 100 times in the next few months.

STEPN [GMT] was recently highlighted in a recent Messari Twitter thread which evaluated its performance before and after Solana [SOL] network woes.  The thread showcases how market changes can disrupt and potentially destabilize dapps.

STEPN's GMT token capitalized on the recent bullish retracement as the coin was in sync with other cryptocurrencies as we can see more today in our latest altcoin news. STEPN made upgrades on the network to rekindle the waning interest of the gamers so the token seems to be making quite a lot of progress.

And the game is on for STEPN as the GMT token plays in sync with other cryptocurrencies amplified for the bull run.  In the past couple of weeks, STEPN has been making upgrades on its network to rekindle the waning interest of gamers.

As several cryptocurrency projects recover after the prolonged crypto winter, STEPN's GMT token has also taken advantage of the ongoing bullish retracement.  In the last few weeks, the play-to-earn project has ramped up on its ecosystem updates to re-ignite dwindling interests in the gaming project.

The past week or so has been a delight for crypto enthusiasts with market trends seeing reversals. Some protocols are beginning to resurge after being blanked out by the crypto winter.

The Solana-based STEPN app generated $122 million in profits for the second quarter of the year and it is eyeing fresh prospects for partnerships and sponsorships with various sports and entertainment events so let's have a closer look at today's latest blockchain news. Solana-based STEPN amassed $122.

In the last two quarters, STEPN, the popular move-to-earn project, has had to deal with regulatory sanctions, DDOS attacks, a downturn in the general cryptocurrency market, and a general decline in interest in play-to-earn games.