STEPN GMT’s Price Falls While Chronoly.io (CRNO) Soars to a New High

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Amid rising fears of the US economy sliding into a recession, a large number of crypto tokens have witnessed a reversal of their fortunes in the last few months. One such token is STEPN (GMT), which witnessed a dramatic jump in price on the back of the craze around move-to-earn crypto assets. 

But its fall has been equally dramatic. Interestingly, while STEPN is falling, the price of a new Ethereum blockchain-based utility token Chronoly.io (CRNO) has emerged as investors’ favorite. Chronoly.io (CRNO) token’s price soared to a new high in the recently concluded presale, which was nearly sold out. 

Let’s analyze how the fortunes have changed for GMT and Chronoly.io (CRNO) tokens and what the future holds in store for these digital assets.

Based on the Solana blockchain, STEPN is a self-styled Web3 lifestyle app with GameFi elements. The app allows users to earn crypto as a reward for simple activities like walking, jogging or running. GMT is the governance token of STEPN with a limited total supply of 6 billion tokens.

In the initial few months of 2022, STEPN benefited from the hype surrounding DeFi projects rewarding users with crypto tokens for staying active.

According to CoinMarketCap data at the time of writing, the GMT token’s price jumped from $0.11 to $4.11 between March 11, 2022 to April 28,2022. However, GMT token has been on a downhill journey since the all-time high (ATH) of $4.11 on April 28, 2022. Currently trading at around $0.7, the GMT governance token has fallen by nearly 83% from the ATH.

CRNO is the utility token of the NFT watch marketplace, Chronoly.io (CRNO). The token has continued to win the