Well under its ICO price of $0.007, Sweat Economy is now valued at $17.5M, positioning itself as the 1268th most valuable cryptocurrency on Coingecko by market cap. Under its current downward trend that does not seem to stop, many wonder if SWEAT will ever recover or if it is over for Sweat Economy.
What triggered this downward shift?
The last time SWEAT saw its price hit such lows was in June 15, 2023, when the token reached a price of $0.00438591, it then followed the overall market upward trend for 9 months until March 9, 2024, when it hit $0.01618455 (+269%). For the remainder of 2024, SWEAT's price dropped, sitting around the $0.007 ICO price, often dipping below such. In February 22, 2025, SWEAT went under the ICO price line for the last time, as it has not seen a recovery over $0.007 ever since.
The reason behind this slow depreciation in the price of SWEAT, which could be better described as a "bleeding" is a direct result of 2 factors.
1. SWEAT's inflationary nature: Even though the team has tried to tighten new emissions, more and more tokens enter circulation from three main sources; Token Generation Event (TGE) unlocks, Growth Jar rewards and minting.
- The team reclaimed some of the unclaimed tokens from the original TGE and the subsequent US-launch TGE, which are then burned in order to brand the project as deflationary. In reality, these burns simply eliminate tokens that were never in circulation to begin with, making it little more than a marketing tactic. Nonetheless, TGE unlocks represent the main source of new tokens entering circulation.
- Growth Jars are a loyalty rewards program: users lock their tokens for a predetermined period in exchange for a fixed annual yield paid from the treasury. Originally, all rewards became claimable only at the end of the lock‑up, but the team has since introduced a "live" distribution model. Under this new system, users can partially withdraw their accrued rewards at any time, rather than waiting for the full term to mature.
- Despite the recent changes to minting that saw a reduction of 37% in token emissions in March of this year, users still mint an estimated 15M new tokens each month.
Although the team is slowly closing the gap, the project is still inflationary, thus creating a constant supply pressure that pushes the token further down.
2. A loss of value: The main reason behind SWEAT's decline in (utility) value is the loss of three cornerstone features: Sweat Hero, Trade and Buy.
- In 2020 the Sweat Wallet was compelled to strip Sweat Hero of its "luck-based" mechanics, which previously assigned users point multipliers at random. Later, further limitations were imposed on the conversion of SWEAT into Battle Coins. Eventually, the feature was removed altogether at the beginning of 2024, largely due to Apple’s 30% transaction fee, which made it financially unviable. Sweat Hero was removed from the Sweat Wallet on Android over similar complaints from Google.
- On September 18, 2024 Orderly Network—Sweat Economy's partner powering the in-app Trade feature—shut down its operations in the Near Blockchain, where SWEAT and the Sweat Wallet are based. As the year came to a close, the Sweat Wallet's Trade feature was re-enabled via REF Finance. However, it was quickly removed from iOS devices due to App Store policies, but it remains operational on Android.
- Adding to the loss of Sweat Hero and Trade, we must add the recent deactivation of the Buy section, previously used to exchange SWEAT for Bitrefill gift cards. This change is also most likely due to Apple's 30% transaction fee.
Three of the features that brought SWEAT the most value have been removed or partially disabled, therefore giving users less incentives to buy.
Is $SWEAT dead? What is next?
On May 8, 2025 Sweat published a new whitepaper. While it glosses over the platform’s core growth drivers—its multi‑million user base, intuitive interface, legacy from the Web 2‑era Sweatcoin, and the upcoming RunGP partnership—it does reveal solid 2024 revenue figures. Although the 750,000 completed lessons offer no straightforward dollar value, the whitepaper reports over 40 million rewarded video ad impressions. A conservative estimate would set that figure in the $200,000–$300,000 range. Furthermore, the new whitepaper's roadmap is noticeably vaguer than past versions, replacing concrete milestones and dates with broad objectives that lack clear timelines.
So, is the project dead? – No.
The roadmap, while vague, still offers insight into the general vision or direction the team intends to pursue. Sweat's primary focus is in transforming the Sweat Wallet into a multi-chain wallet, akin to Metamask or Trust Wallet, but with a much simpler interface, thus making it appealing and simple to use for the average inexperienced user. While it mentions Sweat Pay, a crypto debit card, there has not been any news in the year 2025.
The roadmap also confirms plans to integrate the Near Blockchain's new trade technology–NEAR Intents–directly into the Sweat Wallet in Q3, which would bring Trade back to iOS users and potentially give the team more control as opposed to relying on a third-party.
Primarily, 2025 appears focused on expanding the Sweat Wallet’s accessibility—both by reaching more users and integrating support for an increasing amount of blockchains.
While the absence of new token sink features may frustrate users in the short term, Sweat Economy appears committed to a longer-term strategy. Rather than burning through cash to develop token-driven features, the team is prioritizing growth and profitability—positioning the business to eventually support token buybacks and burns. This approach aligns with a more durable deflationary model, aiming to create long-term value stability rather than short-term hype.
In conclusion, while SWEAT may not see a comeback in 2025, the team shows no signs of abandoning the project. Instead, they appear focused on laying a stronger foundation, steadily building toward long-term sustainability with the aim of reaping the benefits in the future.
(1 SWEAT = 0.002302 USD)
