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STEPN (GMT), APE surge 1,000%; break into top 100 in 30 days

By Daniela Ešnerová


Updated

Charts, figures layered graphic with crypto surrounding the globe
STEPN’s GMT and APE both broke into top 100 cryptocurrencies less than a month – Photo: Shutterstock

STEPN’s token GMT and ApeCoin (APE) surged over 1,000% over the last 30 days, making them the only billion virtual tokens to do so in that period.

GMT grew 1,341% over the last 30 days, while APE is up 1,000% since its inception on 17 March. Both of the coins were launched last month, with GMT listing on 1 March, but both quickly made their way to the top 100 cryptocurrencies.

APE is a utility and governance token of Bored Ape Yacht Club’s (BAYC) – the world’s biggest non-fungible token (NFT) Profile Project. APE opened on 17 March at $1 before shooting to $39 and collapsing to the $8.5-$17.8 range the next day.

ApeCoin to US dollar (APE/USD)

APE has been volatile since then followed by a rally after American rapper Snoop Dogg announced BAYC-themed mixed tape which could be bought only using APE.

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BTC/USD

66,807.75 Price
-0.380% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

SOL/USD

170.35 Price
-0.100% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,504.20 Price
-0.180% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.13 Price
+6.910% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

GMT and APE in Top 100 cryptocurrencies

GMT is a utility token for STEPN – a Web3 running application – where users are equipped with virtual sneakers and can earn GMT through walking and running. GMT was launched on 9 March at $0.1536.

On 4 April, it added 280% in a week. “STEPN becomes a Unicorn! STEPN breaks into the coveted billion-dollar club,” team behind STEPN celebrated GMT’s entry breaking the $1bn market capitalisation milestone in a tweet on 4 April.

GMT was trading at $2.10 and APE was changing hands at $11 at 16:15 UTC. APE, with a market capitalisation of $3bn, is the 45th biggest cryptocurrency, while STEPN with a $1.7bn total market value is the 77th biggest digital token at present.

Markets in this article

APE/USD
APE/USD
0.8695 USD
0.0018 +0.220%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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