STEPN's 10.7% surge may excite investors, but the excitement may be temporary

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.

Timeline of Green-metaverse-token

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.

STEPN's upcoming closure of services to China mainland users is nearing. Owing to the regulatory policies by the Chinese government, STEPN had in May this year said it would stop providing GPS to Chinese user accounts.

STEPN (GMT) has broken out from a short- and a long-term resistance line and is gradually moving towards its range high. The post STEPN (GMT) Reclaims 54-Day Support Area After Deviation appeared first on BeInCrypto.

Amidst regulatory sanctions, DDOS attacks, and the general market downturn that has impacted the activities of the leading play-to-earn gaming platform, STEPN launched its decentralized exchange (DEX) on 11 June. By a whitepaper published by the team, the DEX was referred to as DOOAR.