As a seasoned researcher with years of experience in the ever-evolving world of cryptocurrencies, I must say that Friday, September 20, was a day to remember for Catizen (CATI) enthusiasts. Having closely followed the rise and fall of numerous tokens, I’ve seen my fair share of market volatility, but CATI’s surge to $1.1265, a 260% increase from its lowest point this month, is nothing short of impressive.
As a researcher immersed in the dynamic world of cryptocurrencies, I experienced a significant surge in the value of Catizen’s token on September 20th, a Friday. This uptick in price coincided with an escalation in the overall crypto market rally and followed the launch of farming initiatives by STON.fi.
catAPult (survey software tool) surged to a peak of $1.1265, representing a 260% increase from its lowest price this month. This surge has propelled its total market value to exceed $216 million.
The majority of trading activity on Catizen takes place on Binance, with Bybit, Bitget, and OKX following closely behind. These platforms recorded trading volumes of approximately $267 million, $50 million, and $49 million over the past 24 hours, in that order.
On Friday, the primary factor fueling Catizen’s growth was the debut of CATI farming by STON.fi, a prominent decentralized exchange within TON Blockchain’s ecosystem. As an introduction, STON.fi provided 20,000 STON rewards totaling $86,000 to participants during this launch event.
The allocation of these rewards will be evenly distributed among the CATI/TON and CATI/USD trading pairs. This farming phase will continue until October 4th. Historically, during such periods, cryptocurrencies tend to surge in value following the commencement of farming and being listed on a prominent exchange.
Participate in Stonfier’s CATI Token Farming Program, where you can now earn more than just trading and liquidity benefits. Join the fray for a chance to share in an impressive reward pool worth approximately $86,000 in STON tokens!— STON.fi (@ston_fi) September 20, 2024
Catizen was additionally introduced within Bitget’s PoolX platform. By securing their tokens within this exchange, users become eligible to potentially win approximately $300,000 worth of TON (Toncoin), which equates to around 53,000 TON.
After getting listed on Crypto.com, a prominent cryptocurrency exchange, CATI experienced an uptick. Currently, it can also be traded on platforms such as OKX, Gate.io, and WhiteBIT.
Initially, Catizen stands out as a prominent mini-app for gaming within Telegram, boasting an impressive user base of more than 30 million individuals. These users amass tokens not only by acquiring ‘cats’ but also by completing straightforward tasks such as following the app’s social media platforms.
The performance of this token has outperformed others on the Telegram platform, such as Notcoin (NOT) and Pixelverse, which have seen significant declines following their airdrops.
Upcoming on Telegram for a tap-to-earn event is Hamster Kombat, a platform amassing more than 300 million users. As per OKX’s recent report, its pre-market futures have experienced a steep decline of over 95% within the last 30 days.
For Catizen, the main challenge lies in preserving the vitality of the ecosystem now that the token is being traded. Precedents from games like Decentraland and Axie Infinity show that play-to-earn networks often face difficulties in sustaining their initial surge.
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2024-09-20 17:48