As a seasoned researcher with years of experience in the crypto market, I find myself cautiously optimistic about Hamster Kombat (HMSTR). The current downtrend in futures prices and the slowing activity on the network are indeed concerning. However, I’ve seen enough market cycles to know that initial enthusiasm often gives way to a more realistic assessment of a project’s potential.
Hamster Kombat’s sell-off accelerated in the futures market as demand among investors waned.
On August 16th, Hamster Kombat (HMSTR) future contracts hit an all-time low of $0.1586, marking a decrease of more than 50% from its peak this month. However, it’s important to note that the performance of these pre-market futures might not accurately reflect the expected outcomes when the airdrop is launched.
One key point to note is that OKX is currently the only platform providing futures contracts, but it should be noted that the trading volume on these futures is quite low. The data displayed indicated an open interest of 295,720 HMSTR tokens and a 24-hour trading volume of 389,000 tokens.
But, it’s possible that the value of the token might decrease more if the airdrop occurs during the present market scenario, which seems to be unfavorable for most altcoins, given that it’s a bear market.
Furthermore, it’s worth noting that many newly-listed tap-to-earn tokens have experienced significant declines, with some dropping by more than 10%. For instance, the Notcoin (NOT) token has plummeted by over 68% from its peak in June, indicating a potential trend following its upcoming airdrop.
Hamster Kombat’s future trading is ongoing amid indications that network activity is decreasing. For example, the expansion of its YouTube channel has plateaued. Although it surpassed 30 million subscribers in a single month, the total number of subscribers was only 35 million on August 16.
In simpler terms, the popular platform Hamster Combat, boasting more than 300 million users, is anticipating numerous hurdles in the near future. The most pressing issue will be keeping user interest alive after the launch of the airdrop, an event that allows users to trade their HMSTR tokens.
Historically, numerous blockchain businesses have experienced a decline in initial excitement, much like Shiba Inu (SHIB), a well-known meme currency, did in the past year. After reaching a high of $0.000088 in 2021, its value has since decreased by approximately 85%, dropping to around $0.000015.
Likewise, Decentraland (MANA) experienced a significant decrease in user activity from 2021’s daily active user count in the thousands to less than 1,000 monthly users currently.
Read More
- BICO PREDICTION. BICO cryptocurrency
- DEXE PREDICTION. DEXE cryptocurrency
- EUR INR PREDICTION
- PSP/USD
- ZIG PREDICTION. ZIG cryptocurrency
- Shilpa Shetty’s Mumbai restaurant under radar after BMW car worth Rs 80 lakh gets stolen from parking; REPORT
- RSR PREDICTION. RSR cryptocurrency
- TikTok’s Appeal to Overturn Ban Bill Denied by Federal Court
- EXCLUSIVE: Decoding the importance of suspense around cameos in cinematic universe films
- GBP MYR PREDICTION
2024-08-16 19:38