YEREVAN (CoinChapter.com) – Inexperienced Metaverse Token (GMT), launched by Solana-based Web3 way of life app STEPN, traded at $3.7 within the New York session on Apr. 19, after including practically 60% to its worth within the earlier 48 hours. Furthermore, the token climbed12 rank factors month-to-date and knocked on the top-50 door with a market cap of $2.2 billion.
Intimately, the value motion consolidated across the earlier native excessive of $3.1 and began a brand new leg up, retesting the mentioned stage as assist. Nevertheless, ‘overbought’ dangers would possibly rain on GMT’s parade.
The token’s relative power index (RSI; the purple graph on the chart under) rose to 82. Each time the momentum indicator climbed above 70, merchants would possibly contemplate the asset ‘overbought’ and pull their punches, withdrawing from the market to guide income.
Additionally learn: Green Metaverse Token (GMT) soars 300% as STEPN app hints at upcoming partnerships.
Nevertheless, the RSI alone will not be sufficient to attract conclusions, particularly when the opposite trend-based indicator, MACD (histogram on the backside), appeared primed for a bullish continuation.
STEPN partnership boosts GMT
As CoinChapter beforehand covered, STEPN hinted at “upcoming partnerships” with varied sports activities corporations on Apr. 1. The GMT token responded to the information, pumping three-digit beneficial properties. Notably, the most recent surge got here after the app introduced an NFT collaboration with main attire firm Asics.
Subscribers to the STEPN x ASICS NFT sneaker sale on the Binance NFT market will likely be chosen to buy the primary STEPN sneakers to be used on the BNB Chain model of the sport.
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STEPN now joins forces with ASICS to launch this NFT assortment. This NFT assortment can have ASICS type Widespread/Unusual Walker, Jogger, Runner, and Coach for use in STEPN (BNBChain). Within the STEPN app, NFT Sneakers could be leveled up by burning tokens. Customers can add attributes factors and NFT Gems to the sneaker so as to enhance its efficiency.
learn the announcement.
Every “thriller shoebox” will price 0.5 BNB, or roughly $208. The most affordable examples of the brand new ASICS sneakers now promote on the secondary market for no less than $1,889.
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Moreover, in line with the STEPN publication, the app reached a number of milestones within the present month.
Easter introduced large bounties for the STEPN fam. First, we introduced the upcoming 7 -day occasion and the revised GEMs /Mysterybox system. We then introduced the milestone of reaching 300K Day by day Lively Customers. Lastly, simply to shine off the Easter vacation, markets added a cherry on the highest as GMT rose to the highest of the tally with the very best traded quantity within the final 24 hours
mentioned the newsletter.
