As a GameFi and Move-to-earn project, STEPN has been performing well in the cryptocurrency market for more than a month
SINGAPORE, April 27, 2022 /EINPresswire.com/ — As a GameFi and Move-to-earn project, STEPN has been performing well in the cryptocurrency market for more than a month, delivering some strong returns for investors.
Many centralized and decentralized cryptocurrency exchanges listed the $STEPN token.
Traders on MEXC Global have also used an exchange-traded fund (ETF) option known as STEPN3L, where users have seen rises from 0.6 USDT per token, to its highest price of 121.7 USDT per token, delivering returns of 18,633% for investors.
Other investors are now on the lookout for similar opportunities, here are some tips that traders can follow to uncover the next high performing token:
*Do your own research
*Use trusted platforms
*Find the right products
Do your own research
STEPN is a Web3 product that runs on Solana. It has both the move-to-earn and social finance (SocialFi) elements. STEPN allows users to own non-fungible tokens (NFTs) in the form of sneakers and enables them to earn tokens through walking and jogging in the real world.
The concept of move-to-earn has been a hit in 2022. Similar tokens like Genopets (GENE) have also performed strongly, and delivered good returns for investors.
Just like STEPN, Genopets is a game finance (GameFi) project on the Solana blockchain. It has reached gains of 4730%. Investors should be clear about the business model and its potential growth before investing in a project’s cryptocurrency token.
For more details on investing in STEPN, please visit: www.mexc.com
Use trusted platforms
Traders should ensure they use a trusted trading platform. There are two criteria traders can use to determine if a platform is trustworthy or not:
Does it have a wide-range of tokens available to trade?
Traders should look at a platform’s total trading portfolio, and the types of assets available to trade and speculate on, does it include mainstream established trading assets such as bitcoin and ethereum? A trading platform not only provides mainstream cryptocurrencies but also lists a variety of new crypto assets with the latest concepts to fulfil different users’ demands.
MEXC Global is currently ranked 17th globally on Coinmarketcap listing a total of 1,315 tokens for users to invest in.
Does it feature strongly-performing projects?
Looking back to the top 10 crypto assets in the market with the highest gains in 2021, the average return on investment (ROI) reached over 6600%. These include FTM LUNA, SOL, and MANA, SHIB and GALA. Among them, SHIB’s spot trading had the highest return on investment of 106,363,536%. Meanwhile, the highest ROI for SAND, MATIC, LUNA, FTM, and SOL were all above 16,000%. A good exchange will help users make good investments rather than missing them.
Find the right products
The current mainstream trading products in most exchanges include spot, leveraged ETF, and futures, and these products serve different traders with specific features.
Spot is more suitable for those who prefer a low-risk investment. To secure returns, spot traders usually buy long, when the token price is low, and sell high to return a profit.
Future trading provides more attractive returns with higher risk. This allows users to open a position and speculate on what a given token’s value could be in the future. Some exchanges even support leverage trading of up to 125x the value of the asset you stake, which comes with a much higher risk.
More and more crypto natives are willing to choose leveraged ETFs. These offer leveraged returns as futures trading but are traded on exchanges like the spot market.
When comparing the gains of STEPN’s spot, futures, and ETFs, it is clear that STEPN’s ETF has become a better choice, with higher gains.
According to data from MEXC Global, From March 14th to 15th, the gain of STEPN’s spot was 914%; the gain of STEPN’s perpetual futures (3x go long) was 2742%; the gain of STEPN’s ETF (3x go long, STEPN3L) reached 11,243%.
This is because the leveraged ETFs have a compounding interest effect. The mechanism will automatically transfer a part of daily profits into the position and reinvest to achieve a compound interest. Thus, the profit of leveraged ETFs is more likely higher than the equivalent margin and futures products in the bullish market.
Every trader should ensure they do their own research before investing and make sure they are fully aware of the risks of cryptocurrency trading. Traders should ensure they have an exit strategy in place to ensure they minimize potential losses.
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