GMT, ANC, and LUNA crypto assets regain height after a black week.
Summary
Price analysis of GMT, ANC and LUNA crypto assets
GMT, ANC and LUNA are among the cryptocurrencies most notable for the recovery made after a less than reassuring week, let’s look at them together.
Green Metaverse Token (GMT): the performance of STEPN’s crypto outperforms that of ANC and LUNA
Green Metaverse token (GMT) has been the subject of copious sells resulting from fears about the crypto sector.
The M2E (Move to Earn) Web3 STEPN has kicked off token unlocking, but even so, the value of the native GMT token does not benefit.
STEPN is an app that pays users to move in a sort of reverse gym where the subscriber earns money to work out instead of paying.
STEPN, the parent company of GMT has not met expectations despite the fact that move-to-earn has been a booming trend since 2022.
The company rests on the solid foundation that in a world where every person, even the poorest, owns a smartphone, everyone can earn money by moving.
Despite potential adoption by billions of people, STEPN is disappointing expectations.
According to Dune Analytics‘ findings, STEPN had 42,965 users in February, down 4,000 from January 2023.
The peak number of users had been reached in May 2022 when the company boasted 705,000 participants.
In addition to the total number of users, the number of active people is also nosediving at 6,000 DAU.
The hype generated last year for the company seems to have waned and this has translated into the numbers.
On the chart you can see what a bad week GMT is coming from.
Despite the black period things are about to change according to some analysts.
A bullish breakout seems more and more likely after the huge losses, but in the meantime GMT’s price loses 34% touching $0.36.
GMT’s daily trading volume stopped at $68,596,140.
Anchor Protocol (ANC)
ANC’s price over the past week has lost 9.81%, and today marks a timid -0.70%.
As of today, Anchor Protocol (ANC), boasts 350 million ANC in circulation but the cap is set at 1 billion coins.
Anchor Protocol (ANC) offers 19.5% on money pledged by investors in stablecoin deposits.
In the face of UST in the platform, Anchor Protocol (ANC) makes passive gains due to very low volatility indeed.
Low volatility is also synonymous with low risk by attracting investors who are more fearful but eager to invest in crypto.
Despite ANC’s basic advantage, Binance has decided to remove it along with Aion (AION) and Mirror Protocol (MIR) from the exchanges.
From 28 February 2023 it is no longer possible to deposit ANC on Binance while withdrawals can be made until 28 May 2023.
Terra (LUNA)
Terra loses more than 12% this week, but today it recovers 0.14% on current value bringing it to $1.51 and as of today there are 228,909,100 LUNA outstanding.
For Delphi Lab, SEC vs Terra is not telling the whole truth and the suspicion is that it is moving for a purpose.
Gabriel Shapiro, general counsel of Delphi Labs, on Twitter joined the ranks of those who see fraudulent action on the part of the SEC by explaining:
“orchestrated a multi-billion dollar cryptocurrency securities fraud involving an algorithmic stablecoin and other cryptocurrency securities.”
According to the SEC, just as had happened in the past with Ripple Labs and the XRP token, Terra represents a security:
“[The SEC] will assert that the integration, promotion, marketing, trade agreements, etc. Building stablecoin ecosystems are ‘efforts of others’ that are ‘reasonably expected’ and can lead to profits in relation to the stables.”
Shapiro also points out that the SEC believes itself to be super partes but this does not correspond to reality or at least what the regulator wants to do.
