Hamster Kombat’s HMSTR Token Crashes 20% After Listing
The listing of Hamster Kombat’s HMSTR token witnessed a dramatic 20% drop in its price, stirring discussions among airdrop winners.
Initially trading at $0.014, the token’s price has slipped to approximately $0.011.
Hamster Kombat Distributes HMSTR TokenDeveloped on The Open Network (TON) blockchain, Hamster Kombat is a notable tap-to-earn game. It rewarded 131 million qualifying players with a distribution of 60 billion tokens from its first season.
The TON blockchain, closely linked with Telegram, has managed high user traffic following the token launch. Since launching in March, the game itself has amassed over 300 million users.
Trading commenced at 12:00 UTC on Thursday, with listings on prominent exchanges like Binance, OKX, Bitfinex, and Bitget. Alongside the trading, the platform enabled on-chain token claims, with options for immediate withdrawal.
Read more: 7 Best Exchanges To Buy and Sell Hamster Kombat (HMSTR) in 2024
Hamster Kombat (HMSTR) Price Performance. Source: Binance
This token release serves as a significant benchmark for Hamster Kombat and also poses a crucial test for the TON blockchain. The latter experienced outages during the DOGS airdrop in August. Developers had forewarned about the increased load expected from transactions by Hamster Kombat’s extensive user base.
“We would like to notify you that from the 26th of September 10:00 UTC we are expecting an increased load on the TON blockchain. This is as the Hamster Kombat game project with more than 100 million monthly active users will be minting coins on the blockchain. This is a unique and first event of this scale for the blockchain industry,” the TON team said
Moreover, Hamster Kombat unveiled its strategic roadmap on Wednesday. The plan details the development of a Web3 gaming platform that integrates external payment systems and introduces new games.
It also incorporates non-fungible tokens (NFTs) as in-game assets. Additionally, the roadmap includes the creation of a dedicated advertising network to support the games. Revenues from this network will fund token buybacks and rewards distribution.
Interestingly, only 43% of the game’s total user base received tokens in this airdrop. Furthermore, 11.25% of the tokens distributed during the first season are locked for 10 months. This distribution strategy and the lock-up period aim to stabilize the token price and foster long-term value for holders.
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