In this article, we see the latest cryptographic developments related to the Avalanche and Hamster Kombat projects and the market trend of the respective cryptos AVAX and HMSTR

The layer-1 network is making significant progress on the gaming side by hosting the launch of AAA web3 games compatible with Playstation. 

The mini-app of Telegram tap-to-earn is getting closer and closer to the distribution of the crypto airdrop to the community and is preparing to launch its own token.

Let’s see everything in detail below.

Latest news of the crypto projects Avalanche and Hamster Kombat

The most relevant news from the crypto market features Avalanche and Hamster Kombat as protagonists, two projects that never cease to amaze us.

Going in order, we can see how Avalanche has achieved one of its major milestones in the gaming sector by launching the first crypto game web3 on console.

More specifically, the developer GunzillaGames has introduced the blockchain-enabled shooter game “Off The Grid” directly on PlayStation 5.

This means that the players of Off The Grid will be able to take advantage of the on-chain connection thanks to a custom L1 network by Avalanche.

While access and usability are simplified thanks to PS5, at the same time the presence of a web3 infrastructure allows for a more immersive management of game assets.

For example, a user in a few seconds could find an item, add it to the crypto wallet as an NFT or sell it instantly on OpenSea to other players.

The game assets therefore assume a measurable value as they are tradable on decentralized marketplaces and subsequently reusable in-game.

All this is possible thanks to Avalanche which powers customizable chains dedicated exclusively to niche sectors such as gaming.

I've been full-time in crypto for 7+ years & today the industry will achieve one of its biggest milestones yet. In <1 hour, our port co @GunzillaGames is launching @playoffthegrid as the 1st ever blockchain enabled AAA game on @PlayStation on their custom @avax L1. Consider this:… pic.twitter.com/O7WWWRJJQx

— Joe Bruzzesi (@Joe_Bruzzesi) August 10, 2024

The crypto airdrop of Hamster Kombat is getting closer and closer

As for Hamster Kombat, there are some important updates to bring to light in view of the launch of the crypto airdrop.

The developers of the mini-game on Telegram have recently opened the opportunity for users to receive up to 17 new keys every day by inaugurating new tasks.

One of the keys is given to complete a mini-game. The remaining 16 can be found in four mobile games within the application through the “Playground” initiative. This type of resources will be crucial for the launch of the next HMSTR token.

Regarding the market launch of the crypto and the airdrop for early-adopters, the Hamster Kombat team has revealed the introduction of a dedicated section in the game.

Now the players can learn more about the elements that will play a role in the distribution of the tokens.

According to the project’s whitepaper, the debut day on the markets is getting closer and simultaneously a gaming platform that combines web2 and web3 will be launched.

The crypto HMSTR will be detached from external investors, as reported within the Hamster Manifest, and will have an in-game utility. About 60% of the HMSTR supply will be dedicated to the airdrop context.

Here is what was reported in a recent post by the team of the cryptographic project:

“Working together with the main games and industry leaders, we will be able to build a sustainable ecosystem with a strong symbolic demand.”

The Hamster Foundation, a non-profit organization that will develop the HMSTR token and support the initiatives of game creators, will be presented soon.

Dear CEOs,

We are happy to announce that the AirDrop section inside the Hamster Kombat app has been updated.

You can now get to know more about the items that will play a role in the token distribution.

Please note that these are not all of the conditions.

Stay tuned for… pic.twitter.com/ebXuhhvFtT

— Hamster Kombat (@hamster_kombat) August 8, 2024

Price analysis of AVAX and HMSTR crypto (pre-market)

Moving on to the charts, let’s see how the crypto AVAX of the Avalanche project is performing in the market, and at what prices the HMSTR token of the Hamster Kombat game is about to be launched.

Going in chronological order, for AVAX we report that the situation is not the best speculatively speaking.

After the recovery that characterized the price action from October 2023 to March 2024, growing by about 650%, the currency has returned to retracing.

From the local top at 65 dollars, the crypto of Avalanche has lost approximately 67% of its value, settling at 21 dollars.

The quotations have fallen below the 50-period exponential moving average on the weekly time frame, highlighting weakness for the bull.

In a long-term perspective, the outlook remains positive, with the possibility of an imminent start and the recovery of new annual highs.

At the moment, however, it is the bear who have control, while the entire market is clinging to the fate of the top performers Bitcoin and Ethereum.

We will see in the coming months if AVAX will be worthy of returning to the levels of the bull market of 2021, when it was traded above 100 dollars.

As for Hamster Kombat, we can only rely exclusively on the pre-market data of the crypto HMSTR.

Since it has not yet been launched and available on the market, there is in fact no actual quotation but rather an initial evaluation by investors.

At the moment on Whales Market we can notice how HMSTR is being traded preemptively at the price of 0.010 dollars.

Unfortunately, however, the volume is very low and does not provide a reliable assessment framework to base on.

On the Okx and Bitget platforms, however, the prices appear significantly higher, respectively at 0.183 dollars and 0.175 dollars, with noteworthy trading volumes.

It is clear that we are finally approaching the actual launch date, as many brokers are opening the doors to the pre-market, anticipating the inauguration on spot exchanges.

In the meantime, CoinGecko has also listed the Hamster Kombat crypto on its platform, reporting an estimated price of approximately 0.23 dollars.

$HMSTR Price on CoinGecko #HamsterKombat pic.twitter.com/jbhm9jifbm

— Hamster Daily Combo (@Hamster_Combo) August 6, 2024

Altcoin situation: a drop in BTC dominance could favor Avalanche and Hamster Kombat crypto

While the crypto market reaches a crucial phase for the fate of the bull market, the trend of Bitcoin dominance could now determine the future of the altcoin market and the Avalanche and Hamster Kombat projects.

From the bottom of the market in November 2022, the Bitcoin dominance metric has grown by approximately 45%, bringing the figure to 57%.

In a similar context BTC has observed a significant growth, which despite the recent dump maintains the rise in triple-digit percentage.

The altcoin, on the other hand, did not particularly benefit from this outlook, experiencing contrasting phases of bull and bear.

Only crypto from certain sectors in hype like memecoin and AI have recorded gains beyond all expectations. On the contrary, the top tokens by market capitalization have not seen the prices of the previous bull market again.

Now the dominance of Bitcoin could grow further above the 60% mark, contributing to the potential breakout of new all-time highs for BTC.

Subsequently though, approximately in the next 6 months, we expect a phase of decline in dominance that will characterize the long-awaited alt-season.

In a similar context, we believe that many of the altcoins in the crypto market, including those of Avalanche and Hamster Kombat, will mark dizzying growths.

There is a TD Sequential signal appeared on the $BTC Dominance 3M chart!

The same signal appeared on the Others.D 3M chart in the beginning of 2022 before the massive Altcoin Season.

The signal will be confirmed after the 3M candle closure (will happen in September) pic.twitter.com/6O19V1lV4Q

— Robert Mercer (@Robert_Klondike) August 11, 2024