STEPN NFT Sales Volume Soars By 800%, Likely Signal for GMT
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Despite the current situation in the cryptocurrency markets and trends, it seems investors are still predicting a possible reversal. The rising action of whales on some cryptocurrencies and digital assets remains shocking.
High Surge In STEPN NFT Sales Volume
It seems whales and investors are becoming enthusiastic about the STEPN Non-Fungible-Token collection. The bearish scenario that took off in the market blew up some protocols and collections.
These coins and NFTs seem to be making their reclamation, with investors seeing potential in the market. One of the projects is the STEPN NFT collection.
The move-to-earn NFT gaming collection sales volume increased by 800%. However, the rebound was made possible by the current situation in the digital market. Crypto whales and investors are beginning to see potential in shrunk and blown away projects.
Giant cryptocurrencies seem to be rallying at a point with several market price fluctuations. This rally will cause these projects and small tokens and memes to resurge and reclaim their positions in the market.
During the past seven days, STEPN collection accumulated a huge amount of $4.8 million in sales. This surge has increased the total network volume to $328 million.
According to statistics, the resurge has been building since the 11th of July. The rebound was also catalyzed by the bullish rally experienced on the 18th of July, and the rebound has not yet declined.
Earlier this week, STEPN company made an important release for all its sneakers collection users and buyers. The NFT company and platform developed and released a program to create duration for its sneakers collection.
The health point program will determine the duration for which STEPN sneakers can be used or worn. According to the announcement by the NFT gaming platform, the health points are a regulatory framework to maintain the product.
The fitness sneakers are being supplied and sold out, which allows users to continue using them for years. The sneakers are not easily worn out, which may later cause the sneaker’s market price to inflate.
The health points of each sneaker will be renewed after a certain period. However, the NFT gaming company alleviated fears regarding the health points that user earnings will be secured and the redeeming will be free from GST mining.
Health Point renewing will be free for lower-level users, although there are still questions regarding the sneaker’s performance if the points are not redeemed. The health point framework is to prevent gradual inflation of the sneakers in the market.
STEPN NFT Surge, Possible Signals For GMT Token
Bitcoin mining token GMT has also surged, partaking in the current market rebound and reclamation. The Australian token made an approximate 8% increase over the past 24 hours. The native token is currently trading at $0.98.
Analysis from the past seven days shows a 5% gain and an upsurge in its market price. However, GMT market price and the trend seem to be unaffected by the increment in STEPN NFTs sales volume.
According to the STEPN trading and sales volume chart, the highest rise was recorded on the 18th of July. This spike was triggered by the rally in the crypto market, which also bulls GMT market price.
Since the GMT market price has not experienced any high hike, this may be a possible signal of a bearish market and trend.
GMT price can only rise or spike if all blown away projects and the shrunk cryptocurrencies market rebounds completely.
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