๐๐๐ฆ๐ฌ๐ญ๐๐ซ ๐๐จ๐ฆ๐๐๐ญ, ๐๐๐ญ๐ข๐ณ๐๐ง ๐๐จ๐ค๐๐ง๐ฌ ๐๐ฅ๐ฎ๐ง๐ ๐ ๐๐% ๐๐ฆ๐ข๐ ๐๐ข๐๐๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐จ๐ง๐๐๐ซ๐ง๐ฌ
The significant drop in HMSTR and CATI token prices further strengthens the argument that Telegram-based crypto games and their airdrop tokens struggle to maintain sustainable long-term value. These trends suggest that the hype surrounding such projects may not translate into lasting success in the market.
Hamster Kombat and Catizen, two of the most popular tap-to-earn games on Telegram, have experienced a sharp drop in their token values, falling by 50% to 60% shortly after their launch on The Open Network (TON). This substantial decline has reinforced the notion that crypto games on Telegram, along with their airdrop tokens, struggle to achieve long-term sustainability due to their limited utility, which primarily revolves around player rewards, according to analysts.
CoinMarketCap data shows that Hamster Kombatโs HMSTR token has tumbled 54%, currently priced at $0.0046 just a week after its September 26 launch. Despite the downturn, HMSTR has seen a slight recovery, up 1.6% at the time of this report.
The game centers on a character, a crypto exchange CEO, who taps to grow his companyโs stock by upgrading assets and hiring top talent. However, the gameโs airdrop was not without controversy. Of the 300 million users Hamster Kombat claimed, only 131 million received the HMSTR tokens, with 2.3 million players being banned for cheating and many others failing to meet the airdrop criteria.
Why the Sharp Price Decline?
According to Illia Otychenko, lead analyst at Gibraltar-based crypto exchange CEX.IO, several factors could explain the rapid decline in the prices of HMSTR and CATI.
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