Green Satoshi Token price prediction: What next for the utility token?

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GST has fallen by about 99% since its all-time high in April, but are the forecasts optimistic?

Laptop screen with STEPN logo on it                                 
Bullish forecasts, investment and consistent uptrends strengthen the prospects for the crypto token – Photo: Shutterstock
                                

Contents

Few crypto coins manage to remain on a consistent upward trend in the first few months after they launch, but Green Satoshi Token managed to gain plenty of momentum, hitting an all-time high of $9.03 in late April. But token prices frequently spike to unmaintainable heights before crashing down, and Green Satoshi Token has since fallen to $0.06.

GST, the game token of the Web 3.0 lifestyle app STEPN, allows users to win rewards through walking, running or jogging, and the token performed very well in the first few months of 2022. However, as we move into the third quarter of 2022, the non-fungible token (NFT) market is faltering and STEPN Sneakers’ NFT floor price has plummeted.  

The utility token of the STEPN ecosystem has underperformed lately, having dipped to an all-time low of $0.03349 on 23 July, according to CoinMarketCap.

But how does this information impact the Green Satoshi Token price prediction? Before we look at the forecasts, let’s see how the token works. 

What is Green Satoshi Token (GST)?

GST is the token that is used by individuals to engage with the STEPN app. Users can burn, spend or earn GST on the STEPN app. 

STEPN came fourth out of 500-plus projects at the Solana Ignition Hackathon in 2021 and launched its public beta in December 2021. Iy describes itself as “a Web 3.0 lifestyle app with social-fi and game-fi elements”. 

The STEPN whitepaper says game currency that is earned by walking, jogging or running outdoors can then be cashed out or used in the app. 

Users have to purchase an NFT of a sneaker in SOL in order to get started with the app, which says its aim is to help create a way for individuals to develop a more healthy lifestyle.

Players can choose Solo mode or Marathon mode, which is currently under development. In the former, according to the whitepaper: “Users are equipped with NFT Sneakers to earn tokens by moving. Energy is needed to earn Green Satoshi Tokens (GST). Every one Energy equals five minutes of move&earn movement and Energy, which only starts replenishing after users acquire an NFT Sneaker. To begin, users select a Sneaker of their choice, and press Start.”

There is also an environmental dimension to the platform’s offering. The STEPN litepaper says a portion of the profits that the platform receives from the taxes it takes from in-app activities goes to buy carbon removal credits on the blockchain to help combat climate change. According to the same documentation, the mission of the project is to “inspire millions to a healthier lifestyle, connect them to Web 3.0 and combat climate change.” 

There is a cap on how much energy and tokens an individual can earn a day. The project is also developing social-fi elements, which, it says, will be revealed once all the game-fi elements have been completed. 

Whereas GST is the game token, GMT, or Green Metaverse Token is the governance token of the app. Governance tokens can only be earned once a player hits a certain level. 

The project has a range of developments upcoming, according to its roadmap. One of these is a rental system where new users can rent or lease Sneakers, rather than go through the more complicated onboarding process of purchasing one. 

Green Satoshi Token coin performance: Will the surge continue?

The token, according to CoinMarketCap, rose immediately after launch from a low of $0.9343 on 22 December 2021 to a high of $3.30 by 6 January 2022.  

Later on that month, it dipped to $1.67, before rising to a high of $2.80 by 11 February 2022, and then $4.02 by 6 March. From 9 March, when the token was priced at a high of $3.32, it traded sideways until the end of March. On 28 March, the GST token then shot up to $4.33, before surging to a an intraday high of $5.53 on 7 April. The token subsequently corrected, falling to a low of $4.01 by 10 April 2022.

The next day, it was priced at $4.45, but the price hike continued well into the month, surging to its all-time high on 28 April 2022 of $9.03 following a listing on KuCoin. 

However, at the time of writing on 12 August 2022, GST has plummeted substantially, exacerbated by market-wide downturns and mass sell-offs. The token was trading at $0.06. 

There is a total supply of more than 436 million GST tokens and a current circulating supply of 426 million GST tokens. The protocol has a market cap of $25.6m, and is the 576th-largest crypto by that metric. 

How does all this data impact Green Satoshi Token price predictions? Let’s see…

Green Satoshi Token price prediction: What’s in store for GST?

While price forecasts are critical when it comes to attempting to work out whether a crypto is a good proposition, it is important to remember that price forecasts, particularly long-term ones, can be inaccurate. The crypto industry is highly volatile and ever-evolving, making it difficult for any platform to be able to properly gauge what will happen in the future. 

Keeping this in mind, let’s look at some GST coin price predictions. 

Gov Capitalin a bearish forecast, predicted that GST could be worth nothing by September of this year. 

DigitalCoinPrice, in a more optimistic outlook, suggested the Green Satoshi Token price prediction for 2022 could have averaged at $0.0722 by December. The platform thought the GST price prediction for 2023 could be $0.088. The website’s Green Satoshi Token price prediction for 2025 stood at $0.11, while its Green Satoshi Token price prediction for 2030 was $0.28. 

Finally, PricePrediction outlined the token will average $3.24 over the course of 2022, before having risen to an average price of $10.94 by 2025. The platform’s prediction for 2030 was an impressive $73.64. 

FAQs

How many Green Satoshi Token are there?

There is a total supply of just more than 436 million GST tokens and a current circulating supply of 426 million GST tokens. 

Is Green Satoshi Token a good investment?

Potentially, but the recent aggressive downturn in the NFT market is testing the value of GST. 

It is important to always keep in mind that crypto coins are highly volatile assets, and that analysts’ forecasts can frequently be wrong.  

Will Green Satoshi Token go up?

Potentially. Some forecasting sites expect GST to rise in value significantly, while others are more pessimistic.

Always remember, crypto is highly volatile, and gains are generally followed by losses. In addition, never invest any money you cannot afford to lose.

Should I invest in Green Satoshi Token?

That’s for you to decide. GST certainly seemed to be in a good position earlier in 2022, but the STEPN app must compete in a rapidly maturing NFT space. As the NFT market falters, GST is likely to mirror market activity. 

Investing is a highly personal endeavour and dependent on your individual investment goals. Remember to do your own research, and keep up-to-date on any developments in the STEPN ecosystem. 

Further reading

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