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Benzinga
Benzinga
Business
Shivdeep Dhaliwal

ApeCoin Shot Up By 1,150% In March, Yet This Solana-Based Rival NFT Coin Still Beat Its Gains

ApeCoin, an Ethereum (CRYPTO: ETH) token linked to Yuga Labs the creators of the Bored Ape Yacht Club non fungible token, gained a whopping 1,150% in March but was overshadowed by Solana (CRYPTO: SOL)-based project STEPN (CRYPTO: GMT).

Top Gainers of March 2022 (Data via CoinMarketCap)
Cryptocurrency 30-Day % Change (+/-) All-Time High Value/Date Reached % Change (+/-) Since All-Time High
STEPN (GMT) +1576% $2.92 On Apr 1, 2022 -0.9%
ApeCoin (APE) +1150% $39.40 On Mar. 17, 2022 -68%
Zilliqa (ZIL) +316% $0.2563 On May 6, 2021 -24.2%
WAVES (WAVES) +211% $62.36 On Mar. 31, 2022 -11.7%
THORChain (RUNE) +100% $21.26 On May 19, 2021 -46.2%
SKALE Network (SKL) +83% $1.22 On Mar 12, 2021 -79.2%

See Also: How To Buy Ethereum (ETH)

Why STEPN Dominated March?

The governance token of STEPN is called Green Metaverse Token or GMT. It soared over 1,576% in March. 
STEPN users can obtain NFTs in the form of sneakers and by running and jogging, they can earn rewards.
The project said its users had run more than 1 million km at the beginning of the month.  

In mid-March, Binance Futures said it would launch Tether (USDT)-margined GMT perpetual contracts with up to 25x leverage.

By the end of the month, users had run a collective of 3.36 million km. The project was also holding a “Double Double Mint Event” where participants stand the chance to win 2x Shoeboxes from Shoe minting. 

Read Next: Why Coinbase's 'Premium Valuation' Is Unjustified In The Eyes Of This Analyst

Photo courtesy: STEPN

 

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