Sweatcoin Blasts Off 13% As 124M SWEAT Tokens Go Up In Flames

Gathering over 190 million walkers across the globe, the walk-for-crypto app launches a series of gamified earning features.

An obese person trying to break some sweat with the help of a personal trainer, minting sweatcoins along the way.

The in-app Sweatcoins can be earned by walking up to 5,000 steps everyday, then converted to the blockchain version Sweat Economy (SWEAT). Typically, Premium plans offer a higher SWEAT minting limit, but walking is not the only way crypto aficionados can mine crypto.

All Sorts Of Fun Ways To Earn Free SWEAT Coins

Sweat Economy (SWEAT) has recently introduced a full-fledged Web3 gaming ecosystem, all of which is tied to crypto prizes including digital collectibles on Near Protocol (NEAR) & SWEAT crypto tokens. PlayHub, a category accessible on each user’s Sweat Wallet app, introduces a few easy playing built-in games along with Arcade Mode, where players can earn steps.

Some casual gaming examples include Flip 2 Win & Spin 2 Win, where users get three chances a day to flip or spin away for some steps without walking.

On the contrary, the Arcade Mode requires extra downloads for every mission and might take longer time to get approved for crypto rewards. Additionally, the ecosystem offers a huge selection of instant Learn & Earn rewards.

Besides, the Telegram built-in version of Sweat Wallet Lite incorporates SWEAT token earning on a whole nother level with Snek’O’Leg, a blockchain-based play on the classic Snake game. This aim is to gulp up all the steps presented in a pixelated retro setting, while the steps earned in-game can be instantly converted to SWEAT tokens.

SWEAT Token Sprints Double-Digits Amid 124M Burn

Picking up 13.6% gains in 24 hours, this has a lot to do with a massive burn on Near Protocol (NEAR), erasing a whopping 124 million Sweat Economy (SWEAT) tokens from the circulating supply.

Notably, this is the ongoing allocation approved by the walking crypto community, which SWEAT DAO represents. With 124M SWEAT burned yesterday, another 500M is set aside for later, Sweat Economy noted on X.

Right now, Sweat Economy’s native crypto is switching hands at $0.00233 with a 6.2% upswing in the latest 14-day period. With the circulating supply now capped at 7.57 billion, SWEAT is available on most major exchanges, including the likes of KuCoin, HTX & Gate, MEXC, OKX, Bybit, Bitget & many more.

On The Flipside

  • The walk-to-earn token has dipped 69% in a yearly timeframe, with trading volumes not exceeding $10 million on most days.

Why This Matters

Sweatcoin & Sweat Wallet are among the biggest health & well-being apps on the market, uniting over 190 million registered users. The company launched SWEAT token 6 years into existence, providing the fitness community with a full-fledged Web3 ecosystem.

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People Also Ask:

What caused Sweatcoin’s recent 13% price gain?

The 13% price surge in SWEAT was driven by SWEAT DAO’s burn of 124 million tokens, reducing the circulating supply and creating favorable supply-demand dynamics. Community-driven governance and strong engagement also boosted market sentiment.

What is the SWEAT DAO token burn?

SWEAT DAO burned 124 million SWEAT tokens to decrease the total supply, aiming to increase token scarcity and potentially drive up value. This was part of a community-approved tokenomics upgrade.

How does Sweatcoin’s move-to-earn model work?

Sweatcoin rewards users with SWEAT tokens for physical activity, like walking. Users earn tokens based on steps (e.g., ~4,033 steps = 1 SWEAT, capped at 5,000 steps daily), which can be used for rewards, staking, or trading.

What is the Sweat Wallet?

The Sweat Wallet is a Web3 app where users store, manage, and stake SWEAT tokens. It supports features like asset swaps, NFT purchases & participation in DeFi activities.

Is Sweatcoin’s app free to use?

Yes, Sweatcoin is free, with no paywalls. Users can earn SWEAT tokens by walking without any initial investment, making it accessible to a wide audience.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a DailyCoin Journalist, covering memecoins & latest developments. Tadas has moderate holdings in SHIB, HBAR, LTC, MATIC and a selection of low-cap meme currencies.

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