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The crypto market had a rocky start to the year, provoking fears that a 'crypto winter' was looming. Although those fears were swiftly disproved, the market has still suffered from some bearish sentiment and steep declines.
However, one cryptocurrency has undoubtedly gone above and beyond.
STEPN (GMT) bills itself as a "Web 3.0 lifestyle app" that encourages users to stay in shape. STEPN (GMT) has risen from $0.15 to $3.21 in the last two months, a whopping 2,000% gain. That means a $1,000 investment two months ago is now worth more than $20,000.
Calyx Token (CLX), an emerging liquidity protocol, has been generating a buzz despite not having even launched yet. In fact, Calyx Token (CLX) only went into presale several weeks ago, yet various outlets have already been reporting on the excitement it's been stirring up in the crypto community.
Currently worth $0.0005, what is Calyx Token (CLX) going to offer that has induced speculation that it could replicate the success of trendsetter STEPN (GMT)?
The Solana (SOL) blockchain and Web 3.0 are used by STEPN (GMT). Web 3.0 is the third generation of the internet and is regarded as the next step in the evolution of the internet. Web 3.0 employs machine learning to create a smarter and more connected experience for website and app users.
'Find Satoshi Lab', an Australian fintech firm, developed STEPN (GMT). Through a new concept known as "move-to-earn," the goal is to promote a healthy lifestyle. To get started, users must first download the app (Android or iOS) and then connect their crypto wallet in order to purchase NFT sneakers using Solana (SOL) cryptocurrency.
After connecting the app to the NFT sneakers, users can walk, jog, or run wherever they want while earning Green Satoshi Tokens (GST). GST is calculated differently for different sneakers. These points are the game currency that can be redeemed for real money, upgraded sneakers, or leveling up. The amount of currency you earn is determined by the number of steps you take. Five minutes of movement equals one energy.
STEPN (GMT) plans to optimise its in-game features and launch on several other chains following its successful March launch. To make movement and fitness more fun, the app uses in-game rewards, daily energy allowances, and custom sneakers. It is hoped that this will encourage users to adopt a healthier lifestyle. A Marathon Mode is planned for the app, with races ranging from 2.5 to 15 kilometers. Participants in the marathon will be able to earn prizes, with top finishers earning more.
STEPN (GMT), which was founded less than a year ago, has quickly become one of the most popular cryptocurrencies, ranking 55 out of 10,000 at the time of writing. STEPN (GMT) has a $5 million seed round, according to CoinMarketCap, and is backed by some of the biggest crypto venture capital firms.
Calyx Token (CLX) is an upcoming liquidity protocol in its first stage of presale, whose catchphrase "no third parties, no registration, no limits" created hype around the platform within the crypto community.
Calyx Swap, one of the platform's main features, promises that tokens will be swapped instantly in a single transaction, allowing users to receive the swapped tokens immediately after completing the exchange request.
Additionally, Calyx Token (CLX) is permissionless, meaning that no security checks or registration are required to benefit from the platform's features. As this would allow for one of the most decentralised platforms in the crypto sector, Calyx (CLX) could potentially appear more attractive to use than others on the market.
Due to its interoperability – meaning that it sources liquidity from different DEXs – gas fees are significantly lowered while transaction speed remains instantaneous. Some of the platform's presale buyers are convinced that Calyx Token (CLX) will eventually take over centralised exchanges such as Coinbase and Binance.
Calyx Token (CLX) wants to progress into becoming an entirely community-driven protocol with its own DAO. According to the website, Calyx (CLX) will strive to empower community members with fair representation on agendas that are beneficial to the entire ecosystem while also ensuring that the platform remains secure and stable.
Calyx Token (CLX) will only entail holders to stake their tokens if they want to be able to vote on several agendas and have their voice heard.
In theory, it's impossible to predict which cryptocurrency could blow up. The existence of meme coins proves this, as Dogecoin (DOGE) and Shiba Inu (SHIB) initially started off with virtually no utility but their prices were sent flying after community collaboration.
Nevertheless, an indicator of a cryptocurrency's potential is an innovative White Paper that has investors wanting to get in on the project before it's even been released. And Calyx Token (CLX) seems to be doing just that.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
