Sweatcoin has generated over 3.4 million crypto wallets through its smartphone app since the firm announced the SWEAT crypto token on April 12. The overall quantity represents an allotment of more than 860 million Sweatcoins, which will be paired with SWEAT at this year’s token generation event in July.
Sweatcoin’s innovative move-to-earn cryptocurrency token allows users to mine the token by measuring their footsteps on their phones. The goal behind the token, as per the London-based IT firm, is to develop a global currency depending on the value of footsteps and movement, and the crypto will be minted entirely by steps.
The Sweatcoin application is seeing huge development. Between May first and fourth, it saw more than 7 million new clients, taking the complete number of Sweatcoin users to over 76 million around the world. It also experienced a month-on-month growth rate of more than 22%.
Sweatcoin has become the number one app on the Google Play store and apple store in Brazil less than two months after its launch.
The application additionally saw an all out worth of $71 million worth traded in the in-application commercial centre in Q1 2022 alone.
Sweatcoin, Co-Founder Oleg Fomenko, stated in a statement that the cryptocurrency 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 and signing up so they can get their SWEAT when the token generation event comes.”
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