NAIROBI (CoinChapter.com) — Amid a declining crypto market, the GMT token has defied the trend, rallying over 30% in daily trading. The token is priced at $0.1772, placing it among the few gainers in a market that saw a 3.09% drop in global crypto market cap to $3.32 trillion.

Aggressive Buyback and Burn Initiative

StepN recently announced a buyback program involving 600 million GMT tokens. The initiative aims to bolster demand by reducing the token’s circulating supply.

GMT buyback fuels excitement and big rewards. Source: X

Additionally, the team proposed burning 10% of the supply—a milestone contingent on the community locking 900 million GMT tokens within two months. This move would effectively decrease the token’s total supply, fueling scarcity-driven demand.

The buyback and burn strategy aligns with broader tokenomics principles aimed at rewarding long-term holders. Data shows that whales currently dominate GMT’s holdings, accounting for 88.25% of the total supply.

Whales dominate $GMT holdings at 88.25%. Source: CoinMarketCap

Retail investors, who collectively hold less than 5%, are also showing increased interest as smaller holders participate in Stepn’s staking program.

High-Yield Staking and Whale Moves Push GMT Toward $1 Billion

Stepn’s high-yield staking program has emerged as a key driver of GMT’s rally. Offering up to 300% annual percentage yield (APY) for early participants, the program has attracted significant interest from traders and short-term holders, who make up nearly 40% of GMT’s total holders.

STEPN’s $GMT burn targets 10% supply cut. Source: Mikybull Crypto

GMT’s market capitalization has surged to $430 million, with a 35.63% weekly gain. Analyst Mikybull Crypto projected that the token could reach $1 billion if the burn program and staking incentives maintain momentum.

On the technical front, GMT recently broke a long-term descending trendline, signaling a potential trend reversal. Its relative strength index (RSI) near 51 reflects balanced momentum and room for further growth.

Stepn’s strategic measures and the potential for an “alt season” position GMT as a standout performer in a bearish market. However, the token’s heavy reliance on whale activity and concentrated holdings could introduce volatility as the rally progresses.

GMT’s price surge reflects a strategic approach by StepN to enhance the token’s value through supply reductions and staking rewards. While the broader crypto market remains under pressure, GMT has emerged as an outlier, showcasing the impact of well-executed tokenomics. However, the token’s reliance on whale activity and concentrated holdings could introduce volatility.

The crypto world is often glamorized as a path to quick wealth, but the harsh truth is that most beginners end up losing money, inadvertently fueling the profits of seasoned traders. Without experience, analytical skills, or a structured strategy, even earning a single dollar on Binance can seem like an insurmountable challenge.

The Mirage of Easy Wealth

The term “crypto millionaire” paints an enticing picture, luring novices with the false promise of effortless riches. But these stories often overshadow the countless losses endured by beginners who take uninformed risks. For instance, a newcomer might pour $600 into a launchpool token, only to lose it all. Disillusioned, they blame the market rather than acknowledging their lack of preparation.

What many fail to grasp is that the existence of crypto millionaires hinges on others losing. Those who lack critical skills—like risk management, proper diversification, and realistic expectations—become easy targets for experienced traders who capitalize on their mistakes.

Why Crypto Isn’t for Everyone

Crypto trading isn’t suitable for those chasing instant wealth or lacking financial stability. Success in this volatile space requires patience, education, and strategic thinking. Beginners must recognize that trading is not about luck—it’s about skill and discipline.

Starting Your Crypto Journey the Right Way

1️⃣ Begin with Spot Trading

Break your investments into small amounts, primarily in stablecoins like USDC.

Maintain a reserve (15% of your portfolio) for unexpected opportunities.

2️⃣ Focus on Entry Points

Convert stablecoins into assets during price dips. Knowing when to buy is key to successful trading.

3️⃣ Adopt Gradual Investing

Avoid large, one-time investments. Scale in slowly to minimize potential losses.

4️⃣ Use Limit Orders

Set predefined buy and sell prices to save on fees and improve trading efficiency.

5️⃣ Stay Informed

Follow market trends and news to make informed decisions. Blind trading often leads to failure.

6️⃣ Adapt to Market Cycles

In bearish conditions, explore alternative options like inverse Bitcoin tokens or undervalued assets with growth potential.

The Reality of Trading

New traders often assume earning $1,000 is easy, reasoning that smaller goals like $100 should be a breeze. This false confidence leads to over-investment and inevitable losses, with their funds feeding the gains of more experienced traders.

Trading is one of the most challenging professions, where the risk of losing everything is real. Unlike a stable hourly job, it demands resilience, strategic planning, and emotional control. Beginners must respect the complexities of the market, approach it with humility, and prioritize education over quick profits.

Key Takeaway: Crypto is not a shortcut to riches but a skill that rewards the disciplined and informed. Enter the market prepared, or risk becoming part of the majority who lose.
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