Move-to-earn project Step App will wind down services by Aug. 21 after four years, while its FITFI token trades 99.9% below its all-time high.
Step App, a move-to-earn platform, is shutting down after four years of operation, joining a growing number of crypto companies winding down amid an ongoing market slump.
The company announced Wednesday on X that it will wind down all services by Aug. 21, asking users to unstake locked tokens and manage their exchange positions before the date.
âWe are incredibly proud of what Step App achieved â not just as a product, but as a movement,â Step App said.
The projectâs governance and utility token, FITFI, continued to decline. At publishing time, FITFI traded at $0.0001624, down 99.9% from its all-time high of around $0.73 recorded in May 2022, according to CoinGecko data.
Step App (FITFI) all-time price chart. Source: CoinGecko
Cointelegraph contacted Step App for comment but did not receive a response by the time of publication.
Related: Proof of Play to shut down after blockchain gaming thesis falls short
Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.
All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
