Thursday, December 1, 2022
HomeCryptoThe only reason why the GST will continue to fall

The only reason why the GST will continue to fall

It has now been several weeks since the price of the GST token, a cryptocurrency used in the ecosystem of the Move to Earn StepN, painful fall. The bad news is that it’s not going to stop anytime soon, and you’re going to find out why right away.

How GST is used and why it loses value

The first legitimate question that can be asked is where and how is the GST-token. You should know that the StepN application has made the GST token a multi-chain token. That is to say, it is available on the Blockchain Solana as well as on the BNB Chain. From a usage point of view, this will be used within the application and offer different possibilities:

  • Create new pairs of shoes
  • Allow adding new gems
  • Open mystery boxes collected on the go
  • Evolve your shoes so that they become more efficient

However, there will come a time when you no longer have any interest in using your GST to progress. This is when the law of the market takes over: supply is greater than demand.

GST decline chart

Players at the end of the game no longer have no interest in using GSTs. So they’ll just sell them as they’re picked up on the go. These repeated actions will have the effect of lowering the value of the token in the long term.

It is always possible to reverse the trend

The good news is that a miracle is always possible and the team can turn the tide. We saw it before, the market operates on the principle of supply and demand. For the GST to increase in value, demand must therefore exceed supply, which is not currently the case.
For this, the Step’N team will have to work on your GST destruction techniques. Many alternatives exist and here are some of them:

  • Creation of additional levels to evolve his shoes. Be careful, the levels must be interesting in order to make users want to upgrade their shoes
  • Honorary titles: Similar to titles in video games, titles can be shared with other users in the form of defiance and competition
  • Customizable shoes: Color change or the possibility of adding rhinestones and sequins could be interesting things. This allows you to appropriate your favorite pair of shoes.

Read also Solana up 22% last week, followed by Cardano and the Binance token (BNB)

As you will have understood, the goal is really to always burn more chips in order to limit the quantity in circulation. From the moment the Step’N teams find a way to optimally destroy GSTthe trend will reverse and the value of the GST will move upwards.

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