Hamster Kombat's pre-market futures traded within a narrow band as anticipation grew for its upcoming airdrop and exchange listings.
Upcoming Hamster Kombat Airdrop
The Hamster Kombat (HMSTR) token was trading at $0.011 on Sunday, Sep. 22 as the countdown to the airdrop continues. It has dropped by over 96% from its highest point this year. The airdrop is expected to be one of the most significant this year due to Hamster Kombat's popularity. The tap-to-earn platform has attracted over 300 million global users in recent months. Its YouTube channel has amassed over 37.6 million subscribers and 1.1 billion views. Active users can also be found on its X and Telegram platforms, receiving HMSTR tokens for their engagement. After the airdrop, users will be able to convert the tokens into fiat currencies.
Risks for HMSTR Token
Historically, most tap-to-earn tokens often rise and then retreat after their airdrop. Notcoin (NOT), a popular platform with over 40 million users, initially jumped to a high of $0.02925 and then retreated by over 80% to the current $0.0078. Similarly, Pixelverse soared to $0.1745 shortly after its airdrop and has crashed by over 90% to a record 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. The key challenge for tap-to-earn and play-to-earn platforms is how to keep their users engaged in the ecosystem, especially when the tokens are not doing well.
Challenges for Tap-to-Earn Platforms
Some of the most popular play-to-earn tokens like Decentraland, Sandbox, Gala, and Axie Infinity have dropped sharply from their all-time highs as the number of users in their ecosystems fell. Decentraland’s market cap has dropped from about $7 billion in 2021 to $576 million while Axie Infinity has moved from over $10 billion to $749 million. Move-to-earn platforms like Sweatcoin and StepN, which were highly popular before their airdrops have all dropped sharply. Their market caps have dropped to $58 million and $348 million as activity in their networks has dropped. The challenge is letting people become more engaged in the network when the token is not doing well. Therefore, there is a risk that Hamster Kombat’s token will rise initially and then retreat as the hype fades.
The main challenge for Hamster Kombat will be to retain users and stabilize the token price after the airdrop. It is crucial to maintain interest in the platform and ensure its development amid potential price declines of HMSTR.
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