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The price of the STEPN cryptocurrency (GMT), released by the creators of the eponymous game on the Solano (SOL) blockchain, collapsed by 34% due to the news of the blocking of Chinese gamers.
On May 26, STEPN announced the termination of the provision of GPS service to residents of mainland China. Therefore, starting from July 15, residents of the Celestial Empire will no longer be able to earn digital assets using the STEPN application.
STEPN has never done business in China and has always complied with local laws. We apologize for the inconvenience and thank you for your understanding, – said representatives of the company.
The market reacted negatively to the publication of STEPN, and the GMT rate fell by 34% in three hours. Then the price of tokens rebounded by almost 20%, but the upward trend quickly fizzled out. The value of assets again went down and fixed in a range below $ 0.85.
Sharp drop in the price of STEPN
Users of the STEPN app receive Green Satoshi Tokens (GST) cryptocurrency as a reward for walking and running. To start earning coins, you need to buy at least one NFT sneaker.
Now a pair of shoes can be purchased on Binance for $ 75, but in the near future the value of tokens will fall, because the Chinese will begin to massively sell their sneakers.
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