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Stepn GST Token declines by 97% even after having 3M Users on Fitness App

25-Jun-2022 By: Somesh Gaur
Stepn GST Token decl

Stepn GST Token declines by 97% even after 

having 3M Users on Fitness App

Users of the smartphone app Stepn, developed by FindSatoshi Lab and based on Solana, can make money by jogging, running, or walking.

The price of GST (Green Satoshi Tokens), meanwhile, has dropped below the $1 crucial support level as a result of this adverse market. The coin's current price is $0.18, a 97% drop from it's all-time high on April 28 of little over $9.

The NFT-based fitness app is used by 3 million individuals each month. Market observers wonder if the high volume of customers would lead to a slight increase in the GST pricing.

Stepn is a GPS-based game that works similarly to Fitbit in that it tracks your activities and steps. You need to buy a virtual pair of sneakers before you can start running. These recently created NFTs can be sold again on the market for a potential profit to get a better pair.

By the way, using a treadmill or any other electric-powered gym equipment will not work with the Stepn app; one must use legs and go for a run outside.

Employees of Web3 used to brag on Crypto Twitter about earning up to $30 just by running two months ago. One pair of Stepn's NFT sneakers cost an astounding $600 at the time (priced in SOL).

Exercise-related GSTs are available to participants. The amount of GST that different types of sneakers refund varies, and the more efficient a pair of shoes is, the more GST the wearer can generate every minute. You might receive your money back in around 30 days during the height of the GST.

Now that GST is just 18 cents, jogging a few miles in a pair of entry-level shoes will only get you $1, a far cry from the straightforward $30 you could make by running a short distance.

When the price of the token reached closer to $1 earlier this month, GST was the most widely used cryptocurrency; however, despite the euphoria and a 30 percent spike on June 8, GST's price sank even more.

GST ranks #529 on Coingabbar with a market cap of under $23 million. GMT's market value is currently $365 million, down from $4.17 and more than $2.2 billion at its April 28 peak.

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