April 28, 2022

Project STEPN control token hits new high

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Project STEPN control token hits new high

The control token and in-game currency of the Move-to-Earn STEPN app rose 18% and 19% respectively after listing on the Coinbase exchange. NFT marketplace OpenSea also reported support for the project.

Coinbase has designated assets as "experimental" - the platform introduced a corresponding tagging system in March 2022. The company highlights assets with low trading volumes and cryptocurrencies recently added to the listing.

The project's tokens have responded with growth. According to CoinGecko, the Stepn management token (GMT) rose 19% in the past 24 hours, while the in-game currency Green Satoshi Token (GST) rose 18%. Both coins also hit new all-time highs, with GMT at £3.25 and GST at £5.49.

On April 28, OpenSea announced that STEPN's NFTs are now available on its platform, among other Solana blockchain-based projects. Trading volume of tokens from the collection on the marketplace has already reached 947 SOL (~£75797.43 at the time of writing).

According to Dune Analytics, STEPN-affiliated addresses have received funds from more than 300,000 users. The average deposit exceeds 26 SOL (~£2080.54). The average number of active users exceeded 62,000.

As a reminder, in April 2022, the venture capital arm of Binance announced a strategic investment in STEPN. The parties did not disclose financial details of the deal. 

You can read a detailed review of the Move-to-Earn game STEPN on our website.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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