The success of Stepn’s GMT token has led to significant demand for the so-called move-to-earn cryptocurrencies. GMT was valued at over $2.4 billion at its peak, while Stepn has raised millions of dollars from investors. In this Sweatcoin crypto price prediction, we will explain the idea behind the upcoming token and whether it will be a good buy.
Sweatcoin is a London-based company that introduced the concept of move-to-earn. The idea behind it is to incentivise people to walk and exercise. To achieve that, developers have created a mobile application that incorporates the concepts of GPS. With GPS enabled, the company can validate that people have made real steps. It then rewards them with internal tokens that they can redeem from its partners.
The company’s long-term vision is to launch a cryptocurrency known as SWEAT. When it is launched, each step that a person has taken will be converted into this cryptocurrency, and then they can cash it out. According to its website, SWEAT will be available to eligible users who are members of the application. Think of it as what ApeCoin was to the Bored Ape Yacht Club community.
Sweatcoin crypto price prediction
At the moment, it is not possible to carry out a Sweatcoin crypto price prediction because the coin has not been launched yet. However, the Token Generation Event (TGE) will happen in July this year if everything goes according to plans. Still, going by the success of GMT, there is a possibility that the SWEAT token will see a lot of demand.
For one, the Sweatcoin ecosystem has over 76 million users worldwide, and the number is expected to get to over 100 million in the coming months. This amount is significantly higher than that of Stepn. Therefore, there is a likelihood of more demand for the token.
The only risk is that many token holders will start cashing out as soon as the coin goes live. Besides, they have all recently seen the recent dramatic crash of most cryptocurrencies.