PROJECT ANNOUNCED IT WILL LEAVE THE COUNTRY FOLLOWING CHINA’S DECISION TO BLOCK CRYPTO!
The game and app Stepn (GMT) have suspended activities in China, blocking users from their GPS. Nevertheless, Stepn is the favorite app in the “Move To Earn” category that has gained investors worldwide.
China has banished cryptocurrencies from its country ever since 2021 and shows a tendency to keep its stand.
Stepn is a project based on the Solana Blockchain, where adepts would earn cryptocurrencies for walking or running that would be tracked down by satellites. One of the project’s supporters was Binance, which listed the token in its early stages.
The news that Stepn would cease activities in China on the 15th of July, 2022, had a massive impact on the token’s price. As a result, the token fell 84% in value since its all-time high back in April. But for investors that bought it before the boom, we’re still talking about a 550% increase in value.
It is still unclear how China getting out of the market can affect the user base.
