STEPN has grown significantly and has become a trend over the last few weeks, driving a new concept known as “Move-to-earn”. Meanwhile, the markets continue to be driven lower by the uncertainty generated by a possible economic recession.

STEPN is a project that has given rise to a new concept, known as “Move-to-earn”, which refers to a new way of encouraging people to perform physical activities, giving them rewards in cryptocurrencies for exercising outdoor. This allows users, by acquiring an NFT from the project, to obtain cryptocurrencies as a reward according to the physical races and walks they carry out, controlled through a GPS system. It should be noted that the NFT is acquired with SOL.

STEPN’s native token, GMT, has grown exponentially over the past few weeks, as it traded below $0.70 just over a month ago, and it is now trading above $3.40. There is no doubt that it is a very interesting project, so it will be interesting to keep track of it in the next few days. This week was quite tough for the cryptocurrency market, driven by various economic factors, such as the negative results in the US GDP (-1.4%), as well as the expectation of an imminent rise in interest rates at the next meeting of the Federal Reserve, which will take place this week. As a consequence, Bitcoin once again fell below $38,000 followed by much of the altcoins, such as Ethereum, which traded close to $2,700.

It will be of essential to wait for a confirmation from the Federal Reserve regarding a new stance in its monetary policy, so it is very important to be aware this Wednesday, May 4, of what may happen at that meeting. In other news, Telegram now allows users to make cryptocurrency transfers and payments within its platform. This is thanks to the TON Foundation, a blockchain network developed by the same company behind Telegram, which now provides the ability to transact using its native cryptocurrency, Toncoin, without any transaction costs. It sounds quite attractive, but let’s see how many options for users, in terms of variety of assets, they can implement in the future. The conflict between Russia and Ukraine continues, and it seems that we are still a long way from a resolution or agreement that could put an end to these terrible events. This is why the Finnish government has announced that it will donate part of the Bitcoin that has been seized from the Ukrainian country. The country is known to have around $77 million in BTC, which has been confiscated as it was used in illegal operations. Bitcoin is currently trading above $38,500, still within that range that has been generated since the beginning of the year. We can see a support near $36,500. BTC/USDT 1D (TradingView chart). For its part, GMT, the STEPN token, is trading above $3.38, generating a significant pullback after having reached a maximum value of $4.39. We can find an interesting area where it could stop near $3.13. GMT/USDT 1D (TradingView chart). The situation is complicated in the short term, since the effects of the measures taken to counteract the problems generated by the COVID-19 pandemic are beginning to be felt. We are in quite important days, which will determine the short-term future not only of the cryptocurrency market, but of the global economy. However, regardless of what happens next Wednesday and as has been mentioned on several occasions, the adoption and development of the cryptocurrency market looks quite promising in the long run. Without further ado, we wish you an amazing week.