The green satoshi token (GST), the service token of the STEPN project, started 2022 high, but soon sold out amid a wider negative shift in investor sentiment. As a pioneer of M2E projects, STEPN, a Web3 application based on the GST token, has inspired cryptocurrency enthusiasts to play sports while making money. However, as the crypto market crashed, so did GST. The bearish trend did not stop with the collapse of cryptocurrencies either. Its price continued to drop in the following months and is now 99% lower from its April high. But a new collaboration with sports brand ASICS is creating a buzz around the Web3 program.

What is GST?

According to the project’s official document, GST is the native cryptocurrency of Web3 lifestyle app STEPN. STEPN combines elements of SocialFi and GameFi and is built “around movement – an important daily activity for most people.” The game was created by a fintech studio in Australia called Find Satoshi Lab. In the game, users wear NFT sneakers and can run, walk or jog outdoors to earn GST tokens. Players can also choose whether they want to rent or sell NFT sneakers on the internal Marketplace.

2 Tokens like STEPN System

There are two separate cryptocurrencies powering the STEPN ecosystem.

The two tokens are used for different purposes on the platform. GST tokens can be used to level up or mint new NFT sneakers and even for profit, and GMT tokens can be used for customization fees.

STEPN has a write mechanism, which means tokens are available in limited quantities. GMT and GST tokens are burned through a series of in-app actions.

To be part of the STEPN community, one must first download the STEPN mobile app, open an account, and open a wallet. Users deposit SOL tokens into STEPN’s built-in wallet, which they can use to purchase NFT sneakers.

Activity rewards motivate users to use the app to exercise every day, thus encouraging them to keep exercising.

Price GST

The total GST token supply is just over 519 million. According to the data, there were more than 530 million tokens in circulation as of November 7, 2022. The market capitalization of GST exceeds $18 million and ranks 620th among the largest cryptocurrencies. In 2021, STEPN placed fourth out of 500+ projects at the Solana Ignition Hackathon. You can easily track the GST token price using the KuCoin platform. It is fast, reliable and useful. The GST token could be one of the most successful tokens of 2022 as it started to rise shortly after its launch. According to various sources, after logging in at $1,8451 on December 22, 2021, the token surged nearly 70% in two weeks, reaching $3,1216 on January 6, 2022.

Although it managed to lose some momentum between January 16 and 20, GST started a confident climb from a low of $1.6839 a month ago to $2.9423 by February 20.