The decline continued over the next couple of months or so, with the collapse of the FTX ( FTT) exchange hurting the market and sending SWEAT down to a low of $0.01194 on 14 November. By 21 September 2022, it was worth around $0.0488. After that, though, the price fell and by 18 September it was hovering around the $0.05 mark. The following day, it peaked at $0.09188.
It rose to a high of $0.09257, before falling to close the day at $0.05629.
The sweat economy token launched on 13 September 2022 at $0.05101. That said, knowing what the crypto has done in the past can be useful, because it gives us some context when it comes to either making or interpreting a sweatcoin price prediction. Keep in mind that past performance – such as it is, in this case – should never be taken as an indicator of future results. Let’s take a brief look at what SWEAT has done since Sweat Economy came onto the open market on 13 September 2022. Don’t worry though if you see a reference to a SWEAT coin price prediction – it is referring to the same thing. SWEAT is based on the Ethereum ( ETH) and Near Protocol (NEAR) blockchains, which means that, technically speaking, sweatcoin is not really a coin but a token. SWEAT will also be able to be bought, sold and traded on exchanges. The SWEAT crypto will have its own crypto wallet, called the SWEAT wallet. It will also be used to collect advertising fees, and movement validators will have to stake SWEAT in order to take up their positions. The token will be used to collect revenue from NFT sellers, as well as being used to buy NFTs and to take out a subscription to Sweatcoin’s premium services. The sweatcoin crypto will use people called movement validators, who will confirm that people are taking the required number of steps in order to issue the crypto. People would be able to generate SWEAT for every 10,000 steps they took, although, in the future, that number would go up. Users who had the original Sweatcoin rewards would be able to get one SWEAT per reward token. In April 2022, it was announced that Sweatcoin would have its own cryptocurrency, named sweat economy but better known as sweatcoin, and also by its ticker handle, SWEAT. However, it is only recently that Sweatcoin has taken its first steps into the world of cryptocurrency. Sweatcoin has been around since 2015, and rewards people with points whenever they exercise, with those rewards being able to be exchanged for a variety of goods and services. In 2022, Step App ( FITFI), which combined exercise with collecting NFTs (non-fungible tokens), became popular and, as a result, there are other platforms that allow users to get fit and earn crypto. One of the very first fitness cryptocurrencies was the Triffic app, which was launched in 2017 and allowed people to gain crypto rewards by walking, not unlike a blockchain-based Pokemon Go. With the popularity of fitness trackers and crypto, it was perhaps inevitable that the two would cross over. The idea of using your mobile phone (or other smart device, such as a smart watch) to track how much exercise you are doing has caught on in a big way across the world. Over the past 10 years or so, there have been two technological developments that have become massive. The first is blockchain technology and, by extension, cryptocurrency.
We’ll take a look at what SWEAT is, and examine some of the sweatcoin price predictions were being made as of 4 April 2023, too. Sweatcoin ( SWEAT) was an eagerly anticipated cryptocurrency from the Sweatcoin app. Sweatcoin’s launch was highly anticipated, but what comes next? – Photo: Shutterstock
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