GMT pumped 1800% What next?
As we know that STEPN (GMT) is launched on Binance Launchpad on 09 March 2022 and as soon as token was listed, it’s price pumped 1800% to $0.18
But since then price is falling and now is around $0.10
Will the price sustain?
I don’t think that price will sustain at this level for long term, there is a main reason behind it (what i think).
STEPN has an app for Android and iOS what you can download and start earning tokens for walk and running.
But but but you need to buy sneakers in the app to start using the app and cheapest sneaker price is 9.6 Sol which is roughly $900 at current Sol price.
So who can afford to spend that much money to buy these sneakers, they don’t need this app as earning from app is in cents only.
So it will take years to get back what you invested initially, technically no earning at all.
So as per my opinion, this project is not sustainable unless they reduce price of sneakers or give them free of cost.
You can share your opinion in comments or discuss with me on twitter @AJ_Ahlawat https://twitter.com/AJ_Ahlawat
