The STEPN project a few months ago showed decent efficiency in terms of making money on walking and running, which are familiar to all of us. Recently, due to the general fall in the cryptocurrency market, the situation in STEPN is not the rosiest. However, our team continues to believe in the project and highlight useful topics related to it for you. And today we will talk about the GST token, or rather about its manifestation in different STEPN worlds. Perhaps not everyone knows, but the GST rate is different on different blockchains, and this difference was even very significant. But first things first.
Solana
The main blockchain on which the STEPN game is built. This is where GST first appeared back in late December 2021. According to CoinMarketCap, the GST (SOL) rate on 12/22/22 was $1.84.
Since then, there has been a gradual increase in the cost of GST, and already 4 months later it reached its maximum mark of $7.82. You can see the entire dynamics of the GST (SOL) rate on the chart.
From the end of May to the present day, GST has been losing its position in value. Unfortunately, no action by the developers has yet helped the game token to take a steady course for growth.
BNB Chain
Binance Smart Chain or BNB Chain is the second world in the STEPN game that came out in May. In terms of exchange rate dynamics, GST (BSC) can be called a much less successful version of GST than GST (SOL). The fact is that the token managed to hold out in good positions for far more than 4 months, already on May 25 it began to fall, and was unable to rise confidently anymore.
By the way, this fall coincided with the beginning of a long fall in the GST (SOL) rate. They attribute this to various events: from the bear market and the general decline to the forced exit of the Chinese audience from STEPN. You can read more about this in our article “ when GST rises ”.
Now, only one thing can be said: whatever the reason caused the beginning of the fall in the exchange rate, panic played a very large role then. Users in both worlds began dumping sneakers on the marketplace en masse, completely oblivious to the huge losses and huge amount of wasted energy that is now so worthless. Such reckless actions led to a collapse in the GST rate in both networks, as well as a strong decline in flora on NFT sneakers.
Ethereum
The youngest and so far the last network in the game STEPN. It appeared thanks to an unofficial collaboration with the Bored Ape Yacht Club (BAYC). The updated STEPN with APE Realm became available only a month and a half ago – on July 18th.
In general, this chart is somewhat similar to the GST (BSC) chart. The only difference can be considered that GST (ETH) did not manage to break above $10, however, it confidently kept around its maximum position ($6-9). But already from the second week of August, GST ETH showed similar behavior to its counterparts in other networks: a rapid decline began, which has not stopped until now.
This time, the explanation for this may be the distrust of users after the collapse of the GST (BSC). At the launch of the 3rd world, there were no longer so many mint farms, although the sneakers already on the second day were cheaper than they once were on the BNB network at maximum GST.
Comparison GST
In conclusion, I would like to give a table that clearly shows what path the GST token has traveled in all three worlds.
*ATH (All-Time High) – the highest price in the history of the token
*ATL (All Time Law) – the lowest price in the history of the token
With a cursory analysis of the table, it is striking how the GST BNB rate stood out. Its value in May reached very high values, which actually led to the emergence of many pools that lost huge funds in a matter of days. When GST (BSC) was near its maximum, it was possible to reach the level of profit (return investments) in just 2-3 days by applying the strategy of crossing sneakers. This figure turned the heads of many players. But in the Solana and Ethereum GST networks, at key moments, it showed itself approximately the same. Solana – because the first blockchain, there was no such high popularity, and Ethereum – because users were taught by the bitter experience of the second world.
By the way, the table lacks the current cost of GST in all worlds at the time of writing. But if you look closely, you will see that the ATL in the BSC and ETH networks is dated exactly today. For GST SOL, this was a little over a month ago, but the situation has not changed much. Now GST (SOL) = $0.03834. And this is the most interesting thing that can be noted when comparing GST on different blockchains. The fact is that the dates of the appearance of tokens, as well as their maximum values, are very different. But today, in all three networks, GST is almost equal.
This is exactly what the developers have been talking about from the very beginning of their AMA sessions. And it was their actions that could also cause the collapse of the GST (BSC) rate at the end of May. Indeed, since then, GST tokens have gradually begun to converge into one common point. But what the future holds for GST remains a question. Whether this point will tend to rise or the fall will not stop, time will tell, and the situation in the cryptocurrency market.
