GMT, or Green Metaverse Token, is a notable cryptocurrency operating on the Solana blockchain. Launched in August 2021, it serves as the native utility token for the STEPN ecosystem, a move-to-earn fitness application that rewards users for physical activity. This article provides a detailed analysis of GMT's market performance, technical aspects, and essential information for potential investors and enthusiasts.
Current GMT Price and Market Performance
As of the latest data, GMT is trading at approximately **$0.0428**, reflecting a 24-hour increase of **+0.46%**. The token opened at $0.0412 today, marking a 3.66% rise from its opening price. Despite a brief dip to $0.0409, GMT has shown resilience and is attempting to climb higher.
Key Price Statistics
- 52-Week Range: $0.0367 - $0.2624
- All-Time High (ATH): $0.6109 (recorded on January 26, 2023)
- Current Price vs. ATH: Down approximately 93%
- 24-Hour Trading Volume: $13,663,553 (319,569,814 GMT coins traded)
GMT's market capitalization stands at approximately **$113 million**, ranking it #246 among cryptocurrencies. The circulating supply is 3 billion coins, with a fully diluted valuation (FDV) of around $221.6 million.
Technical and Market Analysis
Short-Term Price Trajectory
For GMT to initiate a potential upward trend, it must maintain support above $0.0378. Key resistance levels to watch are:
- First Major Resistance: $0.0544
- Second Resistance: $0.0854
- Third Resistance: $0.1158
Breaking through these levels could signal a stronger bullish momentum.
Volatility and Returns
GMT has exhibited significant volatility over various periods:
- 3-Month Volatility: 51.48%
- 6-Month Volatility: 74.78%
- 12-Month Volatility: 109.14%
Return on Investment (ROI) figures highlight recent challenges:
- ROI (3-Month): -5.27%
- ROI (6-Month): -72.11%
- ROI (12-Month): -73.46%
Technical Indicators
Most moving averages (Simple Moving Average - SMA and Exponential Moving Average - EMA) across multiple timeframes (10, 20, 30, 50, 100, 200 days) currently indicate "Sell" signals. Oscillators like the RSI (14) at 44.61 are in "Natural" territory, suggesting a neutral momentum without clear overbought or oversold conditions.
The STEPN Ecosystem and GMT's Utility
GMT is fundamentally tied to the STEPN platform, an innovative Web3 application that merges fitness with blockchain technology. Users purchase or rent NFT sneakers to walk, jog, or run, earning GMT tokens through this "move-to-earn" model.
Core Functions of GMT
- Governance: Token holders can participate in voting on proposed changes and upgrades to the STEPN platform.
- Incentivization: Users are rewarded with GMT for their physical activities, promoting a healthier lifestyle.
- Utility: The token is integral to in-app transactions, such as minting new sneakers or upgrading existing ones.
This practical utility within a growing fitness metaverse differentiates GMT from many purely speculative cryptocurrencies. For a deeper dive into blockchain-based fitness applications and their market potential, you can explore more strategies here.
GMT Market Position and Comparisons
GMT holds the #26 position in the GameFi (Gaming Finance) category by market capitalization. Compared to other cryptocurrencies launched in 2021, GMT demonstrates above-average trading volume. The average 24-hour volume for 2021 coins is approximately $285,000, while GMT's volume is notably higher at around $14 million.
Historical Performance Context
Since its all-time high in early 2023, GMT's price has experienced a significant drawdown. However, it is currently trading 16.39% above its post-ATH low of $0.0367. The 52-week price range indicates the volatility and trading activity it has experienced over the past year.
Trading and Exchange Information
GMT is listed on 48 different cryptocurrency exchanges, providing ample liquidity and access for traders. The high trading volume indicates active market participation. When trading GMT, it's crucial to consider market depth, which shows the buy and sell orders within +/- 2% of the current market price, ensuring you understand the immediate liquidity available.
To stay updated with real-time charts and advanced trading metrics, consider to view real-time tools that professional traders use.
Frequently Asked Questions
What is the primary use case for the GMT token?
GMT is primarily used for governance within the STEPN ecosystem. It allows holders to vote on proposed platform upgrades and changes. It also serves as a reward token for users who engage in physical activities like walking or running using the app.
How does GMT differ from Greenwich Mean Time (GMT)?
Despite the identical acronym, the Green Metaverse Token (GMT) is a utility cryptocurrency on the Solana blockchain, unrelated to the time zone. It is a digital asset used within a specific Web3 fitness application.
What was the highest price ever recorded for GMT?
GMT reached its all-time high price of $0.6109 on January 26, 2023. The current price is significantly lower, reflecting the broader market conditions and tokenomics since its launch.
What is the current market cap ranking of GMT?
As of the latest data, GMT is ranked #246 among all cryptocurrencies by market capitalization, with a valuation of approximately $113 million based on its circulating supply.
On which blockchain is GMT based?
GMT is a token built on the high-performance Solana blockchain, known for its fast transaction speeds and low costs, which is beneficial for the STEPN application's user experience.
How can I start earning GMT tokens?
To earn GMT, you typically need to download the STEPN app, acquire NFT sneakers (either by purchasing or renting), and start moving. The app tracks your activity and rewards you with tokens based on your performance and the quality of your sneakers.