Crypto News

STEPN (GMT) Holds Gains While Many Top Coins Taste Declines

The GMT’s price has been in a strong upward trend in the past seven days despite other major coins nosediving. It experienced a 13% 7-day growth and a 24-hour gain of 0.53% this morning. Meanwhile, several top coins like FEI USD, Basic Attention Token (BAT), and Ravencoin have seen their prices plummet badly. STEPN (GMT) remains a major move-to-earn crypto project in the market despite fierce competition from the likes of SWEATCOIN. With a market cap of over $400 million, GMT is the 87th largest cryptocurrency by market capitalization on Coinmarketcap.  Related Reading: BIS Announces Successful Completion Of CBDC For Cross-border Transactions STEPN Pumps Thanks To GigaSpace Partnership The coin’s price has risen significantly over the past few days after it announced its partnership with GigaSpace metaverse. The partnership will see both companies building a STEPN virtual city for community members.  STEPN users can buy STEPN items, organize community events, and engage with others in the metaverse. It’ll have a sports theme and have buildings and amenities, including stadiums, shopping malls, and communal space. After the announcement on GigaSpace’s official Twitter handle, the coin price doubled within 24 hours. This was followed by a steady weekly rise from $0.59 on the 21st to $0.73 yesterday. Meanwhile, other top coins were all down between -5% and -10%. Surviving Amidst Competitors And General Bearish Sentiments STEPN (GMT) has enjoyed a good run since its inception in 2021. Over 4.72 million people have downloaded the app, attracting $5 million in financing and one million active daily users. But in recent weeks, the GMT price exhibited a significant negative trend as Stepn activity showed symptoms of slowing. Sweatcoin’s rise in popularity coincided with its decline. On September 13th, Sweatcoin released its own cryptocurrency, SWEAT. CoinMarketCap reported that the price of SWEAT increased by over 30% in the 24 hours following the launch. As a result, it’s likely that the introduction triggered the GMT price struggle as investors rushed to purchase SWEAT. GMT had also struggled alongside the entire crypto market. On April 29, 2022, it climbed to an all-time high of $3.80. But by the middle of June 2022, it dropped to its all-time low of$0.58, plummeting even more sharply than GST, its sister token. GMT Price Predictions Despite these bearish sentiments, GMT has managed to hold onto its position this week. It closed with a 10% increase two days back at $0.684746.  The trading volume over the last 24 hours totaled $265,743,486, with a current price of $0.6719. STEPN lost 0.39% in the past day, ranking #87 on CoinMarketCap with a $400,997,811 market cap. There are a total of 600,000,000 GMT coins in circulation and a maximum of 6,000,000,000 GMT coins available. Related Reading: Is Short Bitcoin ETF Exposure Gearing Up For A Squeeze? STEPN may find support at $0.5964 after bouncing to $0.8070, which is now its resistance. If the GMT price manages a strong breach over $0.8070, it might go to $0.9215 or $1.1170.  Featured image from Pixabay and chart from TradingView.com

Altcoins Blockchain

USDT Issuer Tether Announces Launch of Top Stablecoin on Polkadot (DOT) Blockchain

The issuer of the largest stablecoin by market cap is announcing the launch of the dollar-pegged crypto asset on Ethereum (ETH) challenger Polkadot (DOT). In a new company blog post, USDT issuer Tether says the top stablecoin is now available on the Polkadot blockchain as a means of increasing its presence in decentralized ecosystems. According […]

The post USDT Issuer Tether Announces Launch of Top Stablecoin on Polkadot (DOT) Blockchain appeared first on The Daily Hodl.

Altcoins Analysis Bitcoin Blockchain

Zalmoxis, a 3A-Level Game, has Landed on the MEXC Launchpad — Play With 10 MX or USDT

Zalmoxis, a 3A-Level Game, has Landed on the MEXC Launchpad — Play With 10 MX or USDT

The most recent event will be held on the launchpad of the cryptocurrency trading platform MEXC from 06:00 on September 23 to 15:59 on September 27 (UTC). The massively multiplayer online role-playing game (MMORPG) Zalmoxis (KOSON), created by Wenmoon Studios Ltd., is the event project. It is well known that MX holders have priority access […]

Crypto News

California State Kills Main Crypto Bill, Why?

One of the pressures in the crypto market is regulation. Many countries’ regulators are consistent in supporting the control and monitoring of crypto assets. These regulators always create laws to manage the industry and protect investors’ funds. California and New York are taking the lead in global crypto regulations. For instance, crypto companies in New York currently operate under a law mandating them to get a “BitLicense” before offering virtual asset services. The law has become operational in the State, although the current mayor Eric Adams is not supportive of the law. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why But apart from these top players, other States such as Arizona and Wyoming are also coming up with diverse crypto regulations. California Bill For Crypto Businesses And Exchange Another bill, like the BitLicense law, emerged in California. The “Digital Financial Assets Bill” will mandate exchanges and businesses in the industry to get a license from California regulators. This bill had earlier passed the assembly with a 71-0 vote. It also gave the senate and now awaits the Governor, Gavin Newsom, to sign it by September 30. Unfortunately, but surprisingly, Newsom vetoed the bill. The decision has surprised the regulators, but the crypto community is thrilled about it. Newsom wrote to the California State Assembly, stating that he would veto the bill. According to him, the crypto oversight bill is unsuitable for the State. The Governor believes that the crypto industry is gaining more popularity by the day. As such, there should be a transparent law protecting the citizens of the State. To achieve that, Newsom mentioned that his administration had researched the crypto industry to uncover protective approaches for investors. Therefore, signing a bill without cognizance of his research will be wrong. Also, he pointed out that the federal mid-term election is in the pipeline and should be completed first. Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? According to Newsom, the bill will draw tens of millions from the State’s general fund. This amount will be required in the cost-benefit analysis of the bill and will be accounted for during the State’s budgeting process. So, he suggests that the regulators wait for now and develop a flexible approach to strike a balance between innovation and protection. The Digital Asset Community Rejoices Every regulation in the crypto industry affects operations in one way or another. That’s why the community applauds Newsom’s actions to keep the bill. The Blockchain Association Jake Chervinsky applauded the Governor’s guts and strength in standing up to the State Assembly. Also, Miles Jennings from a16z praised Newsom for his support of Web3 in California. Featured image from Pixabay, chart from TradingView.com