As an analyst with extensive experience in the crypto market, I find myself intrigued by Hamster Kombat’s upcoming airdrop and exchange listings. The hype surrounding this event is palpable, with its popularity among over 300 million global users and a massive YouTube following of 37.6 million subscribers. However, my past encounters with similar tap-to-earn platforms have taught me to tread cautiously.
As a researcher, I’ve been closely tracking Hamster Kombat’s pre-market futures trading. The range of these trades has remained relatively tight, suggesting a buildup of anticipation among investors ahead of the project’s imminent airdrop and upcoming exchange listings.
On Sunday, September 22nd, the Hamster Kombat (HMSTR) token was priced at $0.011, with the airdrop approaching. Since reaching its peak this year, the token has experienced a decline of more than 96%.
Hamster Kombat airdrop is coming up
The current price movements are taking place as the Hamster Kombat team gears up for their scheduled airdrop, set for September 26th.
Experts predict that this could be among the largest airdrops of the year, given the widespread appeal of Hamster Kombat.
In recent times, the tap-to-earn platform has drawn in more than 300 million users from around the world. Since its debut in May, it’s YouTube channel has gained an impressive following of over 37.6 million subscribers.
Its videos have been watched over 1.1 billion times.
In addition to Hamster Kombat X, the platform’s Telegram account boasts a significant user base that is actively participating. This active user count continues to increase as users are awarded HMSTR tokens for following and interacting with the platform.
The hamster’s airdrop enables supporters to collect HMSTR tokens, which can later be exchanged for traditional currencies like dollars or euros.
HMSTR token faces substantial risks
Historically, many tap-to-earn tokens have experienced a pattern where they surge following an airdrop, only to later drop significantly. For instance, Notcoin (NOT), a widely used platform boasting over 40 million users, initially soared up to $0.02925 but then plummeted by more than 80% to its current value of $0.0078.
Following the airdrop, Pixelverse reached a high of $0.1745 but later plummeted more than 90%, dropping to an all-time low of $0.0070.
Most recently, Catizen (CATI) surged to a record high of $1.20 and has pulled back by over 26% to the current $0.87.
One approach to rephrase the given statement could be: The main issue for tapping-for-rewards and gaming-for-rewards systems lies in maintaining user involvement within the system, particularly if the associated digital assets aren’t performing favorably.
Play-to-earn tokens such as Decentraland, The Sandbox, Gala, and Axie Infinity have experienced a significant decline from their peak values due to a decrease in user activity within these platforms.
The market value of Decentraland has declined significantly, dropping from approximately $7 billion in 2021 to just $576 million currently, whereas Axie Infinity has shown a different trend, rising from over $10 billion to its current value of $749 million.
As a researcher, I’ve observed a significant decline in the popularity of move-to-earn platforms such as Sweatcoin and StepN following their airdrops. The market caps for these platforms have plummeted to approximately $58 million and $348 million respectively, mirroring the decrease in activity within their networks.
It’s difficult to encourage users to participate more actively in the network when the associated token isn’t performing well. Consequently, there is a potential for Hamster Kombat’s token to experience an initial surge due to hype, followed by a decline as excitement wanes.
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2024-09-22 14:22