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Sweatcoin Sees 100,000 New Users Daily After Launch in April

Cryptocurrency May 12, 2022 01:00PM ET
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© Reuters. Sweatcoin Sees 100,000 New Users Daily After Launch in April

  • SWEAT has seen the creation of over 3.4 million wallets through its mobile app since its launch.
  • The service has seen around 100,000 people sign up every day since its launch.
  • It primarily aims to incentivize people to be more healthy.

Since the launch of the SWEAT crypto token on April 12, it has seen the creation of over 3.4 million wallets through its mobile app. This puts the total of allocated sweatcoins at over 860 million, which will be matched with SWEAT at the token generation event in July of 2022.

SWEAT is a move-to-earn token which means that users are able to mine the token by tracking their steps on their smartphones.

The company stated that the idea behind the token is to launch a global currency based on the value of steps and movement. SWEAT will be minted purely by steps.

The Sweatcoin app has seen very positive growth over the last few months. Between May 1 and 4, it saw more than seven million new users. This puts the total of worldwide sweatcoin used at more than 76 million. The Sweatcoin app even saw a 22% growth rate in one month.

Only two months after its launch, Sweatcoin was ranked the #1 app in the App Store and Google (NASDAQ:GOOGL) Play in Brazil. The app continues to amaze as it saw a total of $71 million in value exchanges in the app marketplace in Q1 of 2022.

The co-founder of Sweatcoin, Oleg Fomenko, also stated that Sweatcoin has “seen around 100,000 people sign up every day since our launch. This is already one of the biggest onramps into crypto ever with more and more people buying into the move-to-earn concept.”

Sweatcoin primarily aims to incentivize people to be more healthy. In a report released by the company, they found that people walk on average 20% more after downloading the app.

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Sweatcoin Sees 100,000 New Users Daily After Launch in April
 

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MD Rubel
MD Rubel May 12, 2022 1:03PM ET
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