GMT Crypto Defies Market Crash With 50% Pump: Is Move 2 Earn Back on Solana? What is Stepn?

GMT, the native token powering the Move 2 Earn project, Stepn Go, has pumped +50% in the last 24 hours, outperforming most of the market as a result.

In comparison, Bitcoin (BTC) and most other big market-cap tokens are anywhere from -2% to +2% within the same time frame. Why is GMT Price Volume in 24h Price 7d (formerly STEPN), an OG token from 2022, pumping so hard while the rest of the market struggles?

🔥 300 MILLION GMT LOCKED 🔥

And we’re just getting started! 100 MILLION GMT in rewards is waiting for you! Here’s how you can join the GMT DAO and help burn up to 600M GMT:

1️⃣ Lock your GMT at https://t.co/oahJ8PTbRR to vote.
2️⃣ Earn daily GMT rewards—see them grow every 24… pic.twitter.com/GUWMsY0XRX

— GMT DAO (@GMTDAOOfficial) December 16, 2024

Market Participants Seeking Fun Utility Coins As Bitcoin Struggles To Reclaim $100k?

GMT is STEPN’s governance token. Players buy GMT to burn in the STEPN app to access features provided by STEPN, such as minting high-quality Sneaker NFTs, upgrading high-quality Gems, and participating in governance voting.

There isn’t an obvious reason why GMT is outperforming the rest of the market. However, there is a good chance it is simply due to Bitcoin and the wider market struggling and investors being lured back toward niche sectors.

The Move 2 Earn industry was started in 2022 by Stepn, and everyone involved in crypto went out walking and running to earn STEPN tokens. At its height, STEPN (now GMT) climbed to over $2.3 billion in market cap. This made it the most successful Move 2 Earn project in crypto, a record it still holds to this day.

This latest surge by GMT sees it worth around $527 million by market cap, with 5.2 billion of its 6 billion total supply now in circulation.

$GMT bouncing from November close. Still very early to confirm reversal from downtrend. Year candle is pretty bearish. So be careful with FOMO on this pump.

4.5 days till Year close and we will surely see GMT back to at least 0.14 next year (which can be a good entry) pic.twitter.com/hbhwL3A5iL

— Zen (@WiseAnalyze) December 27, 2024

Stepn Go (GMT) Down 95% From Its All-Time High But Hasn’t Stopped Building

Even with Coingecko showing that GMT is down 95% from its all-time high, the Stepn Go project is one of the more established in crypto. For several years now, the leading Move 2 Earn project has had multiple NFT partnerships with Adidas.

As recently as early December, Stepn Go announced a limited edition drop of Adidas Ultraboost 5 physical running shoes. As part of its long-term partnership with Adidas, this latest drop was made available to the Stepn Go community and holders of the Adidas Genesis NFT. Holders of the Genesis NFT were rewarded with one exclusive raffle of the co-branded Ultraboost 5 physical running shoes.

The recent surge in GMT’s price is likely due to a combination of factors. Namely, being an OG in the Move 2 Earn space, having such a high-profile partnership with a behemoth company such as Adidas, and most of the GMT supply now being in circulation.

👟 1,200 STEPN GO x @adidas Ultraboost 5 Physical Running Shoes – Limited-Edition Drop!

We’re thrilled to announce the third chapter of our long-term partnership with adidas: an exclusive drop of 1,200 co-branded Ultraboost 5 👟

This drop celebrates innovation, performance, and… pic.twitter.com/e7wfVCMzdM

— STEPN GO – GUINNESS WORLD RECORDS HOLDER (@Stepnofficial) December 5, 2024

BONUS: Solana Layer-2 Solution, Solaxy (SOLX) Continues To Hit New Funding Milestones

Less than 48 hours are smashing past the $5 million milestone, hot new presale project Solaxy (SOLX) has now hit $6.2 million. Astonishingly, this presale is still less than two weeks old, making it one of the most successful starts to any presale this year.

Solaxy (SOLX) is Solana’s first Layer-2 solution, focusing on meme coins. This is a genius move, as Solana is known as the meme coin chain. Solaxy aims to resolve Solana’s congestion issues by processing part of its network transactions off-chain.

Not stopping there, Solaxy will offer a bridge between Solana and Ethereum, the two most popular crypto blockchains. Doing so blends the best of both chains: high liquidity, security, low fees, and developer access and speed.

The Solaxy presale has less than 48 hours before the price increases from its current level of $0.001582 per SOLX. The Solaxy team has built a staking protocol into the presale, with over 600% APY on offer for investors who choose to stake their SOLX.

Stay up-to-date on everything SOLX by joining the Solaxy community on X and Telegram

Visit The Solaxy Presale Website

EXPLORE: Biggest Meme Coin Of 2024! The Year’s Biggest Winners In Review

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