The Sweat Economy price is up by 17 per cent in today’s trading session, marking the third consecutive bullish trend of the crypto. Throughout the week, Sweat has also been aggressively bullish, which has seen its value rise by more than 40 per cent.
The Sweat Economy was launched in September as a Web3 initiative of the Sweatcoin platform, a move-to-earn application that awards users based on the number of steps they take. The Sweat Economy is powered by the NEAR protocol, which allows the platform to integrate seamlessly with other functionalities such as wallets, the SWEAT tokens, wearables, e.t.c.
The project was established in 2016 by Oleg Formenko and Anton Derlyatka. The two co-founders indicated their goal was to incentivize people to work out by allowing them to earn digital assets based on the number of steps they took. Although the concept was new and revolutionary at the time, their move-to-earn application has gained traction in the past few years, which saw 13.5 million Sweatcoin users awarded 4.7 billion SWEAT tokens during the Sweat Economy Launch.
Despite performing dismally since its launch, which resulted in prices dropping by 37 per cent in October, and over 75 per cent from its price high, the Sweat Economy this week has been impressive. It is already up by over 40 per cent and looking likely to continue with the bullish trend for the next few trading sessions. The Williams Alligator indicator also gives price reversal signals, indicating we might be entering a long-term bullish trend.
Therefore, I expect the bullish trend to continue based on the current price action. My Sweat Economy price prediction for the next few trading sessions expects it to hit and possibly trade above the $0.030 price level. However, a drop below the $0.018 price level will invalidate my bullish analysis.
This post was last modified on Nov 04, 2022, 16:14 GMT 16:14