The governance tokens of Web3 running app STEPN, Green Metaverse Token, have surged about 20% to about $4.5 in the past day after the announcement of Coinbase listing.
STEPN’s second token, Green Satoshi Token, also jumped 6.5% to trade at about $6.25 in a 24-hour adjusted time frame and set a new ATH of $7.20.
The upward momentum in GMT and GST is attributed to positive sentiment in the move-to-earn industry, a model rewarding active players with tokens.
STEPN is a token economy where users sell NFT shoes and use the profits to repurchase and burn GMT tokens, driving value up on demand and supply basis.
GST, the utility token powering STEPN with unlimited supply, has consistently recorded positive gains due to the underlying use cases. The tokens can be used in minting and trading NFTs.