Is STEPN Dead?

OR the project will survive?

Photo by Mahad Aamir on Unsplash

Since the last week of May, STEPN native tokens (GST/GMT) and in-game assets (NFT Sneakers) are experiencing massive dumps.

In the following image, you can see the GST/USD chart.

GST Price is crashing

GMT/USD chart is also very similar.

GMT Price is crashing

More interestingly, the prices for NFT Sneakers has been dropped significantly in the last few days. For example, one month ago, the floor prices for common jogger sneakers were around 13–15 SOL. Now, you can buy similar sneakers with 4–5 SOL.

STEPN Sneakers Prices are crashing

So the question is …

What the hell is happening with STEPN?

Everything started with the team announcement on social media channels. According to them, STEPN will be officially banned in the upcoming months in China.