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As STEPN turns one, GMT has nothing better to do but celebrate with the bears

As STEPN turns one, GMT has nothing better to do but celebrate with the bears

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STEP [GMT] just celebrated its first year in the crypto industry on September 2nd. The sensation of playing to earn caused a lot of buzz in the early months of 2022. But the outbreak of the bear market cut short-term relief for the GameFi platform and its GMT token.

Currently, STEPN is struggling to stay afloat and GMT continues to face bearish headwinds. However, STEPN has established itself as a unique addition to the crypto industry with its “walk earn” schedule.

The game thing

“It’s A Movement” embodies STEPN’s deep commitment to the five key pillars that define STEPN for what it is – a revolutionary movement! There is growing enthusiasm in the crypto community due to the benefits of STEPN.

The platform focuses on building a healthy user community with an emphasis on physical, mental and social aspects. In pro-game fitness, STEPN aims to create a community that alleviates these factors to be as healthy as ever.

“At the core of our business model, this means building an economy that rewards users for mobility and values ​​healthy habits – helping users find financial freedom in mobility.”

STEPN also launched its own DEX called DOOR, to incentivize users with GMT ownership. Another priority right now is to channel money into the STEPN ecosystem.

It’s a bear party

However, as mentioned earlier, STEPN’s daily users are staying put. While existing users still dominate the trend, the graph of new users barely saw any significant growth.

As shown below, STEPN’s social volume is also reflected in tokens. It has remained low throughout August and there has been no significant news from the ecosystem recently.

This also showed a decrease in interest from the community as they show signs of a market decline.

Source: Santiment

Where does STEPN go from here with the GMT token also struggling in the market? The GMT token was trading at $0.676 at press time, with a weekly loss of over 2.15%.



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