How many green Satoshi tokens are there?

Green Satoshi Token is the in-game cryptocurrency for the STEPN blockchain game Photo: David Sandron/Shutterstock

Green Satoshi token (GST) is the in-game cryptocurrency for the STEPN blockchain game, which players can earn by running, walking, or jogging in non-fungible token (NFT) shoes made by STEPN. This is an early form of the “move to win” concept that is gaining popularity in the metaverse.

The STEPN team hopes to achieve a major breakthrough by integrating social and community features into their platform, allowing supporters of an active lifestyle to earn cryptocurrencies through their passion for running.

While the Web3 craze is on the rise, things look bleak for the GST token. According CoinMarketCapthe GST fell to an all-time high of $0.03253 on September 7, down 99.63% from its all-time high of $9.03 on April 28, 2022.

At the time of writing on September 16th, the GST SOL chart showed the price standing at 0.03327.

Green Satoshi Token (GST) Price Chart

Read on to find out how many GSTs there are, who has the most GSTs, and how much token whales control? Here we look at the outstanding supply of the GST and the concentration of ownership.

What is a green Satoshi token?

Australian finance studio Find Satoshi Lab launched STEPN in August 2021. The project placed fourth out of over 500 at the 2021 Solana Ignition Hackathon.

The STEPN team aims to champion an active lifestyle and empower users to earn cryptocurrency through their passion for running and fighting climate change.

GST is the token used to interact with the STEPN application. The app allows users to burn, spend or earn GST while walking, jogging or running outdoors. GST tokens can be used in-game or exchanged for cash. The Green Metaverse Token (GMT) is the governance token of the STEPN network.

To get started, a user needs to download the STEPN mobile app, create an account and then create a wallet. The user then places solana (SOL) tokens in the in-app STEPN wallet, accesses the in-app market, buys NFT sneakers and waits 24 hours to replenish energy.

GST was initially introduced on the Solana blockchain and was also extended to the BNB Smart Chain (BSC) at the end of May 2022.

To fight climate change, users can choose to donate their GST earnings, which will be converted to USDC/Fiat, and donate for buying/burning carbon credits.

GST tokenomics: How many green satoshi tokens are there?

While the supply of most cryptocurrencies is capped, the GST token has an infinite supply, making it an inflationary token.

How many green satoshi chips are there? According CoinMarketCapthere is a total supply of over 542 million GST tokens and a current circulating supply of 532 million.

STEPN has included many burning mechanisms to ensure the sustainability of GST. These include upgrading in-game items such as shoes and gems, unlocking gem sockets, finding mystery boxes, and doing repairs. GST is also used to make innovative new sneaker NFTs.

Who has the most TPS?

According CoinCarpas of September 16, there were 757,045 TPS holders, a growth of 0.43% from 753,745 on August 18.

Who has the most GST in 2022? According to statistics, the top 10 coin holders held 71.27% of the total amount of TPS coins. The top 100 holders had 85.74%.

At the time of writing, the largest GST whale held 33.39% of the total amount of green satoshi coins. The wallet contains 181,210,656 GST tokens, or $6.03 million. The second largest GST wallet had 57,583,792 tokens, or 10.61% of the total supply.

Another major whale held 54,142,738 GST coins, or 9.98% of the GST supply, making it the third largest GST holder.

With just three holders controlling over 50% of GST’s supply, the token is vulnerable to extreme price swings. However, due to the inherent nature of cryptocurrencies, it is impossible to determine who owns these addresses.

The road ahead for the GST

A few months after its inception, the GST crypto has become one of the most sought after cryptocurrencies. On April 28, it hit a record high of $9.03, according to CoinMarketCap.

However, after hitting the top, the price action of GST was bearish and it was down 99.63% to $0.03322 as of September 16th.

During the second quarter of 2022, STEPN generated $122.5 million in revenue from platform fees. The cryptocurrency said it would use 5% of its revenue to launch a buy-and-burn program for Q2 GMT.

STEPN also announced the allocation of cash reserves to enhance current features and team expansion.

On August 18, WhaleFin announced a collaboration with Spanish football club Atlético de Madrid and STEPN to release a limited edition of 1001 unique Genesis NFT sneakers. The collection includes unique common/uncommon/rare walkers, joggers, runners and trainers that can be used to win prizes in the STEPN app.

Despite these financial results and collaborations, GST failed to gain substantial momentum and its trading activity remained mostly bearish.

According CoinCodex, the current market sentiment for the GST coin depicts “extreme fear”. Green Satoshi Token had 8/30 (27%) green days in the last 30 days. CoinCodex further forecast that the adverse sentiments will worsen over the next few days, with the price of the green satoshi token dropping 26.59% to $0.024490 on September 23.

The bottom line

While it can be crucial to know how many green satoshi tokens there are and who holds the most GST, you should always do your due diligence before trading, by studying the latest news, technical and fundamental analysis and analysts’ comments.

Past performance does not guarantee future results. And never trade with money you can’t afford to lose.

FAQs

How much does the green Satoshi token cost?

As of September 16, Green Satoshi Token was trading at $0.03322, down 99.63% from its all-time high of $9.03, reached on April 28, 2022.

Where is the green Satoshi token traded?

GST is widely traded on all major cryptocurrency exchanges, such as Gate.io, Huobi Global, and Coinbase, among others. According CoinMarketCapthe most popular marketplace for GST tokens was Gate.io, which held a 25.79% share, followed by Huobi Global, which held a 5.4% stake.

Is the GST a good investment?

Green Satoshi Token is the in-game currency of STEPN, a web3 move-to-earn fitness game based on the Solana blockchain. Players initially use GST to purchase or rent sneakers, which are represented as NFTs, in the in-game market. STEPN users earn GST by walking, jogging, or running outdoors, which which can be used to level up or buy new shoes in the game.

GST’s price action has been bearish for the past few months, and the top three holders control over 50% of the circulating supply of GST tokens, making it extremely vulnerable to pump price schemes. and emptying.

Whether a high-risk asset like GST is right for your portfolio depends on your situation and risk tolerance. You should do your own research and analysis, taking into account your market expertise and attitude towards risk and who holds the most TPS. Remember never to trade or invest money that you cannot afford to lose.

Further reading:

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