The GST token of the popular move-to-earn app STEPN surged 140% in five hours. At the time of writing, the token is trading at $0.1067 (according to CoinMarketCap).
The reason for this is currently unknown. However, many Twitter users who actively follow and analyze the market suggest that the STEPN team has started a buyback program. However, this is unlikely because the developers said they would not do this earlier.
The second option is that those who make money on GMT are now stocking up on SOL, which has fallen in price.
And someone even jokes that Elon Musk sold bitcoins to buy GST or that STEPN could not compete with AMAZY, which had a listing on significant exchanges a day earlier.
While Twitter is guessing and joking, we will continue to follow GST.
