The cryptocurrency market has been underperforming over the past 48 hours.
The cryptocurrency market has continued its poor efficiency this week. The entire market cap is down by practically 2% within the final 24 hours, with the key cash at present buying and selling within the crimson zone. The entire market cap at present 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 value above $1,000 regardless of shedding 2% of its worth in the present day.
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 improvement 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 via its platform charges within the second quarter. Because of this, STEPN will use 5% of the income to provoke a Q2 GMT buyback and burn program.
STEPN additionally launched a brand new function known as Well being Factors (HP) earlier in the present day. The staff added that the HP attribute can be displayed within the Sneaker’s background within the type of a capsule.
Key ranges to look at
The GMT/USD 4-hour chart is bearish as STEPN has been underperforming over the past 24 hours.
The MACD line is beneath the impartial zone, indicating bearish momentum. The 14-day relative power index of 37 exhibits that GMT may 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 may slip beneath the $0.731 assist stage earlier than the tip of the day. Within the occasion of an prolonged bearish efficiency, GMT may lose its second main assist stage at round $0.66.