Despite the recent announcement by developers about the upcoming launch of a layer-2 blockchain network, the Hamster Kombat token’s value has stayed relatively stable within a narrow bandwidth this week.
On January 13th, Hamster Kombat (HMSTR) was priced at $0.0030 and has remained stagnant for several days. This digital token has plummeted approximately 78% from its peak, resulting in a market capitalization of roughly $200 million.
On their latest update about X, the creators of Hamster Kombat announced their intention to introduce a fresh layer-2 blockchain system, in partnership with Tycho.
In simpler terms, a layer-2 network refers to an additional structure constructed over an existing blockchain, such as Bitcoin or Ethereum, for the purpose of improving efficiency and speed. For Hamster Kombat specifically, their layer-2 network will be established on the TON Blockchain.
It’s Time for Us to Evolve Into Something Even Greater…”
In the new version, I referenced a well-known superhero quote to keep the spirit of the original statement. The Hamster DAO decision to partner with Tycho_protocol is depicted as a stepping stone towards achieving something extraordinary – creating the most efficient blockchain out there. This revised sentence maintains the enthusiasm and excitement conveyed in the original while being easier for readers to comprehend.
— Hamster Kombat (@hamster_kombat) January 13, 2025
The team behind the project anticipates that the debut of this new network will draw in developers, particularly those specializing in fields like gaming and financial systems operated without a central authority.
In an effort to strengthen the HMSTR token’s waning price, they also plan to offer extra functionality. Yet, past trends indicate that initiating a layer-2 network doesn’t necessarily ensure success in drawing developers or increasing token worth.
For example, since the release of the dYdX Chain in 2023, the dYdX token has performed less well than other decentralized exchange tokens. Similarly, after the introduction of Shibarium, the scaling project for Shiba Inu, its price has trailed behind meme coins like Pepe and Bonk. The same can be said about Uniswap’s token price before the launch of UniChain, its layer-2 network that aims to support a multi-chain trading ecosystem.
In the year 2024, Hamster Kombat was a highly renowned figure in the tap-to-earn industry on Telegram, boasting an impressive user base exceeding 300 million. However, following its airdrop, its popularity began to decline as many of the recipients opted to sell their tokens. As per IntoTheBlock’s data, the number of its token holders has now dwindled to approximately 3.8 million.
Hamster Kombat price could rebound
On Monday, the Hamster Kombat token was priced at about $0.0030, maintaining a position near its 50-day and 25-day moving averages. The daily trading activity and future contract commitments for this token have been steadily decreasing, suggesting reduced interest.
On a optimistic front, the token seems to have shaped a symmetrical triangle structure. The top edge of this triangle encompasses the highest points since November 10, whereas the bottom edge corresponds to the lowest fluctuations since November 2.
This pattern suggests that the token might undergo a strong upward move (bullish breakout) or a sharp downward move (bearish breakdown). If it’s a bullish breakout, the price could climb towards the next resistance at approximately $0.003580, which was its highest point on January 6th. Alternatively, if there’s a bearish breakdown, the psychological support level of $0.0025 might become significant.
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2025-01-13 19:04