Economy
Stepn (GMT) Continues to Surge, Mushe’s (XMU) Prospects Shine Even Brighter
In the wake of its early-March ICO, Stepn’s Green Metaverse Token (GMT) has appreciated steadily, punctuated by three significant spikes in April. What can the resilient performance of this new coin tell us about the prospects for other cryptocurrencies looking to launch in the near future?
GMT is the governance token in Stepn’s metaverse and complements its move-to-earn Green Satoshi Token (GST). Its value has been supported by a shift by some consumers who have chosen to move away from play-to-earn gaming and toward the nascent move-to-earn model, which rewards physical activity. While GST’s downside risk is mitigated by its steadily growing user base, GMT has gotten a boost from the intrinsic appeal of the model’s connection with the real world. Stepn sells NFT shoes for users to wear, repair, and resell and uses the proceeds to control the availability of GMT tokens.
Mushe token (XMU) is a decentralized governance/reward token currently built on the Ethereum blockchain that is designed to bridge the realms of crypto- and fiat-based financial services. It plans to migrate in the near future to both Stellar’s and Solana’s open networks, where it will join a fast-growing ecosystem of financial institutions, Fintech firms, and financial service providers.
An April 27 announcement that GMT will soon be listed on Coinbase drove the token’s price more than 20% higher. This spike triggered a bit of a selloff, during which a bull flag formed, which was confirmed the following day. A similar bull flag, this one with a target of roughly $5.00, formed on the 28th and continued through the 29th. Overall, GMT’s price rose by more than 30% on the week, continuing a trend that has rewarded GMT owners since its ICO.
Over the same period, Mushe also experienced good growth. XMU tokens which at the opening of its presale debuted at $0.005, are now selling for $0.01952 per token, an astonishing 290%+ increase over the past two weeks. The excitement and interest in the project make it a must buy token for many crypto early birds who like to get in on the “ground floor” of projects.
Whilst GMT’s performance is buoyed by good timing. It owes its long-term prospects to a stable ecosystem and a value proposition rooted in the real lives of investors. It resembles an even more intriguing token whose presale performance suggests that big things lie ahead in those crucial respects.
XMU’s presale launched in mid-April has nearly quadrupled in value, and with more than three weeks left in stage 1 of the presale, many are hoping the token can exceed the expectations of Stepn.
Like GMT, XMU’s springtime success is primarily driven by its position between the online and real worlds. Unlike play-to-move tokens, XMU’s appeal lies in its ability to facilitate a massive pre-existing sector. The global financial services market is worth more than $22 trillion, and XMU is uniquely poised to integrate traditional financial services with the crypto sphere.
The first stage of XMU’s presale ends on May 24th and is limited to 50% of all presale tokens minted. Another 35% will become available from May 25th to June 26th, and the final 15% of XMU’s presale will be available in the nine days leading up to its official July 4th debut.
Learn more about Mushe (XMU)
Official Website: https://www.mushe.world/
Presale Registration: https://portal.mushe.world/sign-up
Telegram: https://t.me/MusheWorldXMU
Twitter: https://twitter.com/Mushe_World
Instagram: https://www.instagram.com/mushe_world/
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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