Coinbase Will List Token That Appreciated Nearly 3,000% in 2022
2 min read
Cryptocurrency exchange Coinbase recently announced that it will list two tokens that have been making waves in recent weeks, with one having gained nearly 3,000% this year so far.
Generally speaking, investors usually expect an asset to appreciate when it is listed on the exchange. This is called in the crypto market the “Coinbase effect”. Therefore, it is possible that these digital assets will appreciate even more in the coming days.
STEPN (GMT) and Green Satoshi Token (GST) on Coinbase
On its Twitter account, Coinbase reported that STEPN (GMT) and Green Satoshi Token (GST) tokens will soon be available for trading on the platform.
“Coinbase will add support for GMT and GST. GST will be listed with the Experimental label.
As Coinbase highlighted, the digital asset GST will be listed as “experimental”. This means that the asset is new to the platform or has relatively low trading volume compared to the broader cryptocurrency market.
“We recommend that you take care with these assets as they present certain risks, including price swings and canceled orders associated with lower volume and availability.”
About GMT and GST tokens
Both tokens belong to the category of “play-to-move” game tokens, a new modality inspired by “play-to-earn”. However, instead of rewarding users for playing a certain game, play-to-moves give tokens to users who exercise physically.
STEPN, for example, gives rewards to those who run or walk. The GMT (Green Metaverse Token) is the platform’s governance token. In addition, it is possible to stake GMT. The GST is the game’s token.
Users can earn tokens by purchasing non-fungible tokens (NFTs) from the STEPN app and participating in physical-world exercise activities through the phone’s built-in GPS capabilities.
The platform is relatively new to the market, and has gained prominence this year. The GMT token, for example, has gained 2,925% since the beginning of the year.
Meanwhile, the Green Satoshi Token (GST) has jumped 295% in 2022. On the first day of the year, the token was priced at $1.49. It is now trading above $5.90.
