GMT and GST token rates of the STEPN project collapsed by 60% and 92% in a month

Digital assets lost 9% and 4,5% in price per day, respectively

15.06.2022 - 11:30

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What’s new? GMT and GST token rates of the STEPN blockchain game have collapsed by 60% and 92% over the month. As of June 15, 11:20 UCT, GMT is trading at $0,57, having lost in price 9,17% per day. The asset reached its maximum values during the month on May 17 at $1,64. The GST rate was $0,23, down by 4,5% per day. In May, the token rate rose to $3,03, according to cryptocurrency exchange Binance.

What preceded it? Earlier, STEPN reported that the company would stop providing GPS services to users in mainland China as of July 15. Against this backdrop, the GMT price fell by more than 20% from May 26 to 27, while GST quotes on the Solana blockchain fell by 19%. On June 5, STEPN reported that the app was subjected to a massive DDoS attack for several hours.

GMT is the governance token of the STEPN project, a Move-to-Earn NFT game. GMT allows one to participate in voting on key decisions in the project. GST is the project’s internal cryptocurrency, which is awarded to the player for activity.

On June 11, STEPN created its own multi-chain decentralized exchange (DEX), DOOAR. In the first stage of the platform’s launch, the exchange would only be available to STEPN users within the app itself and only for Solana (SOL).

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