Daily Hodl Staff
The top US-based crypto exchange Coinbase is preparing to list two explosive crypto assets, including one that has soared 3,509% in 2022.
The exchange says it will soon add both STEPN (GMT) and Green Satoshi Token (GST) to its altcoin lineup.
The health and fitness-focused crypto assets will be accompanied by the Experimental label, which the company applies to “assets that are either new to our platform or have relatively low trading volume compared to our broader crypto marketplace.”
STEPN is a move-to-earn application where GMT, which stands for Green Metaverse Token, is the governance token and Green Satoshi Token is the game token.
Users can earn tokens by purchasing sneaker non-fungible tokens (NFTs) from the STEPN app and participating in real-life exercise activities which are tracked by their phone’s built-in GPS features. Currently, only the solo participation mode is functional, but the marathon and background modes are in development for future release.
There is also a feature to mint custom NFT sneakers for sale as well as convert GST for US Dollar Coin (USDC).
In addition to governance, GMT’s roles include earning staking rewards and gaining access to in-app features through burning.
The app also includes a decentralized wallet and is available for both iPhone and Android devices.
The STEPN website features a rolling counter of app data. It says that currently over 11.2 billion miles have been run and 752,978 kilograms of carbon offset by users.
Project backers include investment firms Sequoia, Alameda Research and Solana Capital.
STEPN has exploded by 3,509% since launching in March of this year, rising from $0.11 to its current price of $3.97. It briefly reached a new all-time high (ATH) of $4.11 today and currently remains up 19.2% in wake of the Coinbase listing announcement.
Green Satoshi Token is also on the move, up 8% on the day and trading for $6.20. GST has risen nearly 1,200% from its December 2021 launch price of $0.48 and also hit a fresh ATH of $6.99 earlier today.
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