Tuesday, December 6, 2022
    HomeMarketGMT is down by more than 3% despite crucial announcements

    GMT is down by more than 3% despite crucial announcements


    The cryptocurrency market has been underperforming during the last 48 hours. 

    The cryptocurrency market has continued its poor efficiency this week. The full market cap is down by almost 2% within the final 24 hours, with the most important cash at the moment buying and selling within the crimson zone. The full market cap at the moment stands at round $870 billion.

    Bitcoin, the world’s main cryptocurrency, continues to commerce beneath the $20k mark after shedding greater than 2% of its worth within the final 24 hours. In the meantime, Ether has maintained its worth above $1,000 regardless of shedding 2% of its worth right now.

    GMT, the native token of the STEPN walk-to-earn ecosystem, has misplaced greater than 3% of its worth within the final 24 hours. This newest growth comes regardless of STEPN saying two main updates in the previous few hours.

    On Tuesday, STEPN revealed that it generated $122.5 million in profits by means of its platform charges within the second quarter. Because of this, STEPN will use 5% of the earnings to provoke a Q2 GMT buyback and burn program. 

    STEPN additionally launched a brand new function referred to as Well being Factors (HP) earlier right now. The group added that the HP attribute can be displayed within the Sneaker’s background within the type of a capsule.

    Key ranges to observe

    The GMT/USD 4-hour chart is bearish as STEPN has been underperforming during the last 24 hours.

    The MACD line is beneath the impartial zone, indicating bearish momentum. The 14-day relative energy index of 37 reveals that GMT might quickly enter the oversold area if the bears stay in management.

    At press time, GMT is buying and selling at $0.83 per coin. GMT might slip beneath the $0.731 assist degree earlier than the top of the day. Within the occasion of an prolonged bearish efficiency, GMT might lose its second main assist degree at round $0.66. 

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