STEPN reported a profit of 122.5 million USD in Q2/2022

STEPN reported a profit of 122.5 million USD in Q2/2022


2022-07-12 18:08:40

The leading Move-to-Earn application in the crypto market today, STEPN, said it still made a big profit despite the market’s turn in recent months.

STEPN reported a profit of 122.5 million USD in Q2/2022

On July 12, the Move-to-Earn project STEPN announced its activity figures for the second quarter of 2022. Accordingly, STEPN recorded a profit of up to 122.5 million USD from collecting fees for activities. on the platform, up 5 times the $ 26 million in Q1.

This result shows that STEPN is still reaping great success in the past 3 months despite the cryptocurrency market “falling without stopping” because of a lot of negative information. As reported by CHK, despite the legal ban on Chinese users, STEPN has become the most used application on Solana. Recently, the project also announced its implementation on Ethereum after Solana and BNB Chain, in cooperation with the famous NFT brand Bored Ape Yacht Club.

STEPN announced that it will spend 5% of Q2 profits, or $6.1 million, to buy and burn GMT tokens.

In addition, the project will promote investment in other aspects to improve features and expand the ecosystem, including:

– Enhance security to avoid DDoS attacks in the past;

– Update anti-cheat mechanism;

– Expanding the human resources team;

– Promote cooperation;

– Promote the STEPN brand; and

– Buy and burn GMT with NFT shoes.

The GMT price has stabilized in the past time and moved sideways in the $0.50-1-$1 zone after falling continuously from the peak of $4.10 at the end of April.

1D graph of GMT/USDT pair on Binance at 10:10 PM on 12/07/2022

Synthetic CHK

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