The Telegram mini-game Catizen (CATI) based on the dark horse public chain TON was officially launched on centralized cryptocurrency exchanges such as Binance and OKX last night (20). The price reached a peak of $1.12 at 9 o'clock last night, and FDV once broke the $1 billion mark.
However, selling pressure emerged later, with the lowest point reaching US$0.81 at around 4:00 this morning (21st). Before writing, CATI was temporarily trading at US$0.96.
Performance of Notcoin and DOGS after listing on exchanges
CATI is the third TG game project based on the TON ecosystem to be listed on multiple mainstream exchanges after Notcoin and DOGS, and its future trend has attracted much attention from investors.
Next, we will review the price performance of Notcoin and DOGS after they were listed, which may provide some potential clues for judging the future of CATI.
Notcoin
Notcoin was officially listed on 18 cryptocurrency exchanges including Binance, OKX, Bybit, etc. on May 16 this year. It fluctuated downward within a week of its launch, and then quickly rose, setting an all-time high of $0.029431 on June 3.
It then began to fluctuate downward and currently seems to be bottoming out at the $0.0077 level. It remains to be seen whether it will break through the downward trend line.
NOT trend. Image source: OKX
DOGS
DOGS was launched on August 26, and its trend is somewhat similar to that of NOT. It also experienced low-level fluctuations shortly after its launch, and then quickly rose to a historical high (US$0.0016570 on August 28), and then fluctuated downward, but the decline was more severe.
DOGS trend. Source: OKX
From the above, we can see that the basic trend of Notcoin is quite close to that of DOGS. The specific trend changes are as follows:
After the token was launched, it fluctuated violently in the short term and basically showed a downward trend. It is speculated that this may be due to the large number of users who received the airdrop, resulting in short-term selling pressure, which led to the decline in the coin price;
Usually, soon after going online, the token will rise rapidly and hit a new historical high;
After setting a record high, perhaps as the popularity decreases and subsequent similar TG mini-games are launched to absorb liquidity, the token will gradually decline.
HOW MANY
However, whether the price trend of the newly listed CATI coin will be close to the history of Notcoin and DOGS remains to be observed. After all, Catizen's game design is more sophisticated than the above two predecessors, and it has launched its own game center.
After the first issuance of tokens, it will be worth our continued attention whether Catizen can continue to provide more empowerment for CATI.
Previously, CATIZEN announced the subsequent profit channels for CATI holders. The relevant token application scenarios are as follows:
Profit sharing of the mini-game center: self-developed games contribute 100%, third-party games contribute 30%, and all players will share all the revenue rebates of the mini-game center.
Pledge assets to get other token airdrops: Users who pledge CATI tokens will continue to receive token airdrops of these games. The combination of staking income and cash flow repurchase will drive the value of CATI tokens up, and the traffic and wealth effect brought by this increase, combined with the user growth strategy, will help Catizen attract more traffic, promote more consumption, and attract more first-party and third-party game cooperation.
In addition to the game center, Catizen plans to use existing traffic to launch on-chain trading products based on Telegram to meet more user needs and expand revenue sources. The first product is an option agreement that allows users to buy 1 Bitcoin for $10 and is scheduled to go online in the third quarter of 2024. The revenue generated by the agreement will be used to repurchase CATI tokens, further increase the value of the tokens, and consolidate our ecosystem advantages.
In addition to the profit channel and appreciation of $CATI, $CATI will be used as a governance token, allowing users to vote for games that are prioritized for listing on Catizen Game Center; screening high-quality projects into the Staking Launchpool, so that users can obtain better returns.
