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The GST crypto and GMT crypto were plunging earlier this morning after move-to-earn app STEPN said it would block China-based users.

GST, a non-fungible token (NFT) tied to fitness app STEPN, dropped around 10% after its operator said it would be banned in China this summer. As Bloomberg reported Friday (May 27), a second cryptocurrency tied to the app, GMT, fell more than 30% before recovering.

The twin tokens underpinning the popular crypto game Stepn plummeted after the project announced it would block gameplay in China.

STEPN, a cryptocurrency trading game that offers nonfungible tokens (NFTs), will ban users in mainland China in order to comply with Chinese regulatory standards. Starting from mid-summer, the move-to-earn game will block geolocation services for users in mainland China.

STEPN (GMT) price predictions are on the minds' of crypto traders today as a recent ban in China causes the digital asset to slip on Friday.

STEPN, a move-to-earn blockchain project had exploded by a staggering 20,000% after launching earlier this year. In fact, the move-to-earn fitness app also saw native token(s) register strong gains in March and April.

Only 3% of the STEPN user population belongs to China. GMT & GST price drops as the effect of the

Bitcoin still stuck in a range and Ether remains down after the top cryptocurrencies both lost pivotal support levels. Why is sentiment still so weak for the broader crypto markets?

In a move to comply with Chinese regulatory policies, Stepn will be blocking users based in mainland China from its mobile app.

Users playing from Chinese IP addresses will have their GPS cut from Jul. 15. 

STEPN GMT/USD is a web3 lifestyle application that features built-in Game-Fi and Social-Fi elements that aim to aid people in their daily activity needs.  In other words, it is a fitness tracker that has play-to-earn (P2E) mechanics. All users have to do is equip themselves with non-fungible tokens (NFTs) in the form of sneakers, and […] The post STEPN removes GPS in China, can the value of the token recover? appeared first on Invezz.

Despite massive amount of app installs and impressive number of holders, STEPN's fundamentals remain weak, experts believe

STEPN (GMT) prices were the top trending crypto assets as they surged nearly 16x since its inception. The asset managed to surge from as low as $0.02 to as high as $4.13 within some days. However, the recent market slash fueled by the LUNA-UST crisis dragged the price by more than 80%. Yet, the prices …

Move-to-earn app STEPN's native token, GMT, slumped sharply on Friday after it abruptly announced a withdrawal from China. GMT fell 37% in minutes after the announcement, and is now trading down 34% over the past 24 hours, at $0.8673.

The cryptosphere has been generous to sprouting projects in the industry. A number of which cater to diverse sectors of the industry. One such project is STEPN, which has taken the business by storm, with its unique approach. STEPN is a Web 3.0 lifestyle application, which holds elements of socialFi and gameFi.  The protocol has …

STEPN, the revolutionary move-to-earn project, has announced they will be forced to stop providing GPS services to users within mainland China on July 15, 2022. The post STEPN removes GPS in China amid regulatory concerns – price drops 40% appeared first on CryptoSlate.

The price of STEPN (GMT) has dropped by near 40% following news that the Solana-based Move-to-Earn application has blocked users from Mainland China. According to a Thursday Twitter post, the ban was implemented in response to “relevant regulatory policies” in the region.

Solana-based “move-to-earn” game STEPN will effectively bar gameplay in China in mid-July, the company announced Thursday, sending its GMT token spiraling as the markets digested the news.

A lifestyle app that rewards users for participating in outdoor activities is seeing its newest token race up the charts. STEPN (GMT), a move-to-earn blockchain project that exploded by a staggering 20,000% after launching earlier this year, is now gaining even further momentum with the creation of a second digital asset on a different chain. […] The post Move-to-Earn Altcoin Explodes 146% in Seven Days As Bitcoin and Crypto Markets Move Sideways appeared first on The Daily Hodl.

Our GMT price prediction is not looking great as the price has failed to generate any reversal signals. GMT is likely to retest its May lows.

Crypto investors are always seeking the next big opportunity looking for returns in excess of 20x. Unfortunately, it is not easy for investors to search for the right project due to the vast number of options available in the market.

Crypto Briefing takes a look under the hood at the "move-to-earn" hit STEPN, and explores whether its token economy will suffer a similar fate to previous play-to-earn games. 

Since StepN launched in December 2021, the move-to-earn app has become a crowd-puller in GameFi or the play-to-earn blockchain space. According to Jerry Huang, StepN co-founder, around 2 to 3 million users worldwide are actively using the app.

PRESS RELEASE. The leading fiat-crypto payment solutions provider, Alchemy Pay (ACH) and the web3 app, STEPN (GMT), have announced a new collaboration. STEPN's GMT token is now supported for use on Alchemy Pay's hybrid fiat-crypto payment system that enables it to be spent at over 2 million merchant partners, online and offline, in more than […]