Move-to-Earn Platform Step App Shuts Down as FITFI Token Collapses

Step App, a move-to-earn crypto platform, is closing its doors after four years, becoming the latest crypto company to shut down amid a prolonged market downturn.

Shutdown Timeline and User Instructions

The company announced the decision on X on Wednesday, stating that all services will wind down by August 21. Users have been asked to unstake any locked tokens and manage their exchange positions before that deadline. In its statement, Step App said it remains proud of what the platform built over the years, describing it as more than just a product but a movement for its community.

FITFI Token Down Nearly 100% From Peak

The project’s native governance and utility token, FITFI, has continued sliding in value alongside the shutdown news. At the time of reporting, FITFI was trading at around $0.0001624, marking a drop of roughly 99.9% from its all-time high of about $0.73, which was reached back in May 2022, according to data from CoinGecko.

Part of a Wider Industry Slowdown

Step App’s closure adds to a growing list of crypto projects shutting down as the broader market continues to struggle. The move to earn sector, once a popular trend that rewarded users with tokens for physical activity, has seen declining interest as token values across the space have fallen sharply from their earlier highs.