Two Web 3 tokens closely followed by Turkish investors, STEPN (GMT) and Green Satoshi (GNT), have been steadily rising since March but suddenly dropped. Altcoin prices are reacting sharply to a ban news from China.
After the Chinese ban announcement, altcoin prices crash
STEPN (GMT) and Green Satoshi (GNT) prices are no longer available in China, as the application has decided to comply with the regulations in China. suspends all its activities. Prices began to decline after the announcement, as Chinese players will no longer be able to access the app. The GMT price dropped from $1.24 to $0.83 after the ban announcement. GST fell more than 26% from $2.03 to $1.53. Both altcoins are currently trading above these levels with buyers coming in from the bottoms.
STEPN were the strongest trends of 2022
STEPN, launched in December 2021 and daily It is a play-to-win lifestyle app that appeals to over 800,000 active users. It has reached millions of users especially when it comes to earning cryptocurrencies by doing routine things like walking around, exercising, brisk walking and jogging. The app rewards people for being active and healthy. Move to Earn – Move to Earn concept allows users to earn GST tokens by taking a walk. In order to participate in the application, it is necessary to buy a pair of sports shoes that are also supported as NFT.
STEPN is a Web 3 application powered by FindSatoshi Lab Ltd. Android and iOS versions of the app are available. The Altcoin project basically aims to lead people to adopt an active and healthy lifestyle, fight climate change and connect to the Web 3.0. Meanwhile, the ban won’t be limited to just China. It will also impose certain limitations on STEPN with other countries with similar crypto regulations. As
Kriptokoin.com , STEPN is backed by crypto giants such as Binance, Sequoia Capital and Alameda Research. STEPN Co-Founder Yawn Rong announced that they made a total of $20 million in earnings in the first quarter of 2022. The fact that users can earn up to $ 50 a day through this application has caused a frenzy around the world.
