Connect with us

Hamster

Red alert for Hamster Kombat as Avacoin, Notcoin, Pixelverse tokens dive post-airdrop

Published

on


The performance of popular Telegram tap-to-earn tokens like Avacoin, Pixelverse, and Notcoin is sending a warning to Hamster Kombat. 

Hamster Kombat hits 300 million users

Due to its huge popularity, the Hamster Kombat token launch is one of the most anticipated events in the crypto industry, although the timeline for an airdrop is uncertain.

Data shows that the platform has accumulated over 300 million users globally and 50 million daily active users. Its YouTube channel has added over 35 million subscribers, while its other social media platforms have millions of users.

Hamster Kombat has surpassed other popular players in the blockchain industry, like Pi Network, which had over 50 million users at its peak. Many HMSTR holders look forward to the token listing, which will let them liquidate or HODL their tokens.

Notcoin, Avacoin, and Pixelverse have dropped

Current data shows that other popular tap-to-earn tokens are not doing well after listing.

Notcoin (NOT), which was listed in May, has dropped by 55.8% to $0.012. Its market cap has decreased from over $2.5 billion to $1.32 billion, even after recent measures to grow its ecosystem.

Similarly, the Pixelverse (PIXFI) token has dropped to $0.030, down by 70% from its highest point this month, sending its market cap tumbling to $160 million.

Notcoin vs Pixelverse
Notcoin vs Pixelverse | Source: TradingView

Avacoin (AVCN), the latest tap-to-earn token to list, has also not performed well. According to Bitget, the token opened at $0.002 on Tuesday and traded at $0.00091 during the day.

Avacoin, Notcoin, and Pixelverse are similar projects to Hamster Kombat in letting users earn tokens by doing simple tasks. In addition to regular tapping, users can gain more tokens by completing tasks like watching YouTube videos and following social media accounts.

Therefore, the price action of these coins is a warning shot to Hamster Kombat, suggesting that their price could also drop after their airdrops. According to its new white paper, Hamster Kombat users will receive 60% of the airdrop tokens, with the rest going to market liquidity, partnerships, and grants.

The developers hope to learn from other play-to-earn platforms like Decentraland (MANA), Sandbox (SAND), and Axie Infinity (AXS). These games have had little activity in the past few years, and their tokens have dropped. 

Hamster Kombat aims to solve this challenge by launching regular seasons where users can earn tokens. However, the risk remains that current HMSTR holders might dump tokens after the airdrop, pushing the price lower.



Source link

blockchain games

Hamster Kombat Ended in a Mass Exodus of 260 Million Players

Published

on



Did Hamster Kombat’s viral rise lead to its own downfall? How did 260 million players vanish in months, leaving the game a shadow of its former self?

From boom to dust

Hamster Kombat (HMSTR), a once-celebrated tap-to-earn game on Telegram, seemed destined for blockchain gaming fame, amassing a jaw-dropping 300 million users within months of its launch in March 2024. 

But in a surprising twist, this viral sensation has seen an 86% nosedive in active users, dropping to just 41 million by November 2024 and facing one of the most dramatic declines in crypto gaming history. 

The game’s token, HMSTR, has also plummeted in value by over 76%, sliding from its September high of $0.01004 to just $0.0024 as of Nov. 5, casting doubts over the project’s stability. 

Behind this exodus lie a series of interconnected setbacks: delayed airdrops, poor user experience, government criticisms, and controversial player bans. 

Could the game’s ambitious goals have been the very seeds of its undoing? Let’s delve into the numbers, the strategies, and the backlash to find out what led to Hamster Kombat’s colossal fall from grace.

The rise and promise of Hamster Kombat

Hamster Kombat launched with an ambitious promise: to make blockchain gaming accessible to everyone. A big part of the game’s appeal lies in its simplicity. No need for gaming consoles, advanced computers, or complex controls — players simply tapped, and in return, they earned. 

Even Telegram’s CEO, Pavel Durov, hailed it as “the fastest-growing digital service in the world,” citing its potential to redefine how people interacted with blockchain technology. 

People from all over the world were suddenly part of this booming virtual ecosystem, where tapping became the new mining, and the tokens they collected had real value attached.

But the game itself couldn’t keep players engaged. The initial excitement over the tap-to-earn model quickly faded as players found the gameplay repetitive and shallow. 

With no fresh challenges, Hamster Kombat began to lose its appeal, leaving users with little reason to return, especially as the HMSTR token kept losing value. 

The AI-generated graphics, which initially seemed quirky, were also criticized for feeling cheap and uninspired, adding to the perception that Hamster Kombat was more of a cash grab than a well-crafted gaming experience.

The simplicity that first drew users in became a source of frustration, and the game’s high hopes for sustainability faced challenges that even a massive user base couldn’t fix.

The airdrop disappointment and the backlash of bans

One of Hamster Kombat’s most eagerly awaited events was its token airdrop in late September, intended as a reward for player loyalty and engagement. 

With nearly 129 million players eligible to claim HMSTR tokens, expectations ran high. But what was meant to be a celebratory event ended up driving players away in droves. 

The airdrop left many users frustrated, not just because of delays but due to the surprisingly low value of their rewards. 

Some players who had spent hours grinding the game found their earnings amounted to just $1 to $10 — a fraction of what they’d hoped for, leading some to label the airdrop as “dust.”

To make matters worse, the rollout of the airdrop was marred by delays and technical glitches. Originally promised as a straightforward distribution, the airdrop faced several postponements, testing players’ patience. 

By the time it finally happened, the discontent among the user base was palpable. Many players took to social media to vent their frustrations, some claiming they felt deceived by what they saw as broken promises. 

This backlash severely damaged the game’s reputation, transforming the airdrop from an incentive to a point of contention.

The controversy didn’t end there. Hamster Kombat introduced a new anti-cheat system alongside the airdrop, aiming to curb fraudulent activities. 

While intended to protect genuine players, this system ended up banning around 2.3 million accounts and confiscating approximately 6.8 billion HMSTR tokens. Many players felt blindsided by these sudden restrictions, as even legitimate users were caught in the dragnet. 

Some felt that the sweeping bans were too harsh, and the confiscations only added to the resentment, leaving a large chunk of the player base feeling alienated and mistreated.

The fallout was swift. The airdrop disappointment, combined with the massive bans, fueled a wave of user departures. By early November, Hamster Kombat’s once-formidable user base had dwindled to just 41 million monthly active players, a fraction of its 300 million peak.

Government scrutiny and the ripple effect of public doubt

Hamster Kombat’s rapid rise wasn’t just on players’ radar — it also attracted the attention of governments, and not always in a positive way. 

In some regions, officials expressed concern over the game’s influence, viewing it as more than just a harmless pastime. As its user base swelled, so did the scrutiny, with some authorities labeling the game as a “disruptive force” in their societies.

In Iran, the backlash was particularly strong. The game caught the attention of the country’s military officials, who were concerned that Hamster Kombat was drawing attention away from political matters. 

One Iranian military deputy chief went so far as to call it a “soft tool” being used by the West to distract citizens from national priorities and weaken the country’s religious governance, positioning it as a digital disruptor with intentions beyond simple entertainment.

The situation was similar in Russia, where the chairman of the State Duma Committee took an even harsher stance, branding Hamster Kombat as a “scam”, and called for an outright ban.

The developers of Hamster Kombat have also had to address their connection with Gotbit, a crypto market maker now under investigation for fraud in the U.S. 

As the authorities filed charges against Gotbit for market manipulation, Hamster Kombat publicly distanced itself from the company.

Despite these efforts, users have continued to question the stability of the HMSTR token, which has already experienced a stark drop in value.

What’s next for HMSTR?

The sharp downturn in Hamster Kombat’s player base and token price has left many in the crypto community asking: is this just a stumble, or has the game reached a point of no return?

One of the most pressing concerns is a breakdown in trust, with disappointed users feeling that Hamster Kombat has “betrayed the trust of its community.” 

The backlash stems from a perception that the game prioritized influencer partnerships and flashy marketing over a genuinely user-focused experience.

Many early adopters, who initially hoped for long-term rewards, are now disillusioned by broken promises, delayed airdrops, and the steady devaluation of the token. 

One disappointed player noted they left after the first season, saying they had “so much hope” for the game but ultimately felt let down by the experience.

Another major worry has been the ongoing decline in the value of the HMSTR token. As one observer put it, the token’s price chart is “in freefall,” with many users predicting that exchange delistings are “probably around the corner.” 

This prediction isn’t baseless; projects unable to sustain interest or stabilize token value often find themselves sidelined by major exchanges due to low trading volume and high volatility.

For Hamster Kombat, rebuilding user trust and stabilizing the HMSTR token will demand not only operational adjustments but also clear communication. This includes rethinking gameplay mechanics, enhancing reward quality, and building genuine engagement with the community.

The broader takeaway here is that crypto games must go beyond promises to deliver real value if they want to survive the increasingly skeptical eyes of their audiences.





Source link

Continue Reading

cryptocurrency

Top cryptocurrencies to watch this week

Published

on


The global crypto market cap ended last week with a 7% drop, losing $160 billion as it closed at $2.15 trillion.

While Bitcoin (BTC) influenced the broader market, several altcoins charted their own paths, benefiting from unique developments within their ecosystems.

Here are some of these cryptocurrencies to keep an eye on this week, following their diverse price movements last week:

HMSTR collapses 18% 

Hamster Kombat (HMSTR) saw a bearish week, dropping 18% to $0.004714. Its worst day came on Oct. 1 when it fell 13.94% amid a broader market decline on the back of geopolitical tensions.

HMSTR, SUI, FTT: Top cryptocurrencies to watch this week - 1
HMSTR 4H chart – Oct. 6 | Source: crypto.news

Last week’s bearishness built on a downtrend HMSTR has faced since its airdrop on Sept. 26. However, the four-hour chart shows some signs of recovery, with the RSI sloping upward, now at 42.82.

For the DMI, the +DI is steady at 17.46, signaling slight buyer momentum. However, the -DI at 23.07 slopes downward, indicating weakening selling pressure. The ADX is at 22.68 and trending downward, as the current trend loses strength.

These figures suggest a possible recovery if buying momentum continues, with bulls possibly targeting $0.0051. However, the downtrend may persist if buyers do not pick up pace this week.

SUI demonstrates resilience 

Sui (SUI) showed resilience despite broader market volatility, dropping only 0.3%. On Oct. 1, amid market turmoil, SUI dipped just 0.97%.

However, it saw a sharper 10.38% decline on Oct. 3, its largest intraday crash in three months.

HMSTR, SUI, FTT: Top cryptocurrencies to watch this week - 2
SUI 1D chart – Oct. 6 | Source: crypto.news

SUI appears to be forming a bull pennant following its uptrend in September. Currently, the Bollinger Bands indicate the upper band at $1.97, which acts as resistance, and the 20-day MA at $1.62 provides immediate support. 

With SUI trading below the upper band, the price could stabilize above the $1.62 support.

Investors should monitor for a bounce between $1.62 and $1.97, with a breakout above the resistance likely signaling bullish momentum for the week.

FTT bucks the trend

FTX Token (FTT) defied market trends last week, gaining 22% while most assets declined.

On Oct. 1, FTT rose by 13.89%, followed by a 21.53% surge on Oct. 4 and another 9.86% the next day. 

HMSTR, SUI, FTT: Top cryptocurrencies to watch this week - 3
FTT 1D chart – Oct. 6 | Source: crypto.news

Amid this uptrend, the Williams Percent Range stands at -32.59, signaling that FTT is near overbought territory but still has room for further gains. 

As it witnesses a 9% retracement this new week, bulls need to defend the Pivot support at $2.01 to prevent a slip into bearish territories. Below this, the next support rests at $1.33, marking lows last seen in two weeks.

Should FTT recover from the latest correction, market participants should watch for a break above the resistance level at $2.68, which continues the bullish momentum.



Source link

Continue Reading

Feature

Telegram messaging app transforms into blockchain innovator

Published

on



Telegram launched as a simple messaging app in 2013. Today, it’s a major player in the cryptocurrency space, integrating the TON blockchain.

When brothers Nikolai and Pavel Durov founded Telegram, the startup quickly gained popularity for its emphasis on privacy and speed.

In the subsequent years, Telegram underwent a transformation: changing from a communication tool to a key platform for crypto users and applications.

In this article, we will retrace Telegram’s journey, from its initial foray into blockchain technology with the TON Blockchain to its legal battles with the U.S. Securities and Exchange Commission and its current influential role in the crypto community.

Telegram origins and shift to crypto

As stated earlier, Telegram started as a messaging app — touted for its strong security features and user-friendly interface. It utilized encrypted chats and large group chats. 

Telegram’s introduction of bots in 2015 marked a significant milestone. This allowed the app’s users to automate tasks, manage groups, and even facilitate complex interactions.

As the platform grew, Telegram introduced voice calls in 2017 and video calls in 2020, further enhancing its communication capabilities.

Its evolution continued with the launch of channels, which provided a new way for users to broadcast messages to large audiences. This tool was further enhanced with stories for channels, a feature allowing users to share fleeting content with unique dual-camera functionality and detailed privacy settings.

It also introduced a transparent and fair giveaway system within channels, enabling users to win real-world prizes.

However, the Durov brothers had a grander vision for Telegram beyond messaging. They sought to create a decentralized platform that could change the way people handled digital transactions and communications.

This vision led to the creation of the Telegram Open Network blockchain. The goal was to build a high-performance blockchain capable of processing millions of transactions per second while integrating seamlessly with Telegram’s messaging platform.

The project promised to introduce new features such as decentralized applications, smart contracts, and a native cryptocurrency, Gram.

Developing the TON blockchain

The TON Blockchain began in earnest when Pavel Durov released a whitepaper in 2018 outlining its technological advancements and potential.

Originally envisioned to integrate cryptocurrency and blockchain features into the Telegram ecosystem, TON’s creators designed it with scalability in mind. It was meant to handle millions of transactions per second, a feat it aimed to achieve through a unique multi-blockchain architecture and sharding mechanism. 

The mechanism splits the blockchain into a master chain, which manages the overall network, and multiple work chains, each capable of operating independently.

To actualize this dream, Telegram sought to raise funds through an initial coin offering. Before that, the company raised about $1.7 billion from 175 investors in a private sale of its native Gram token.

However, the success was short-lived. Soon after the presale, the U.S. Securities and Exchange Commission cast its regulatory eyes on the platform.

In October 2019, the SEC filed a complaint against Telegram, alleging that the company had conducted an unregistered securities offering by selling Gram tokens. The commission argued that those tokens were securities and should have been registered under U.S. securities laws.

The legal battle culminated in a landmark decision in March 2020 when a U.S. federal court ruled in favor of the SEC, halting the distribution of Gram tokens. 

As a result, Telegram postponed and eventually abandoned the project in May 2020. It also agreed to return the money raised in the pre-ICO event to investors and pay an $18.5 million civil penalty.

Telegram felt the impact of this decision, which also sent shockwaves through the broader crypto industry, highlighting the regulatory challenges blockchain projects face.

Once Telegram stepped back, a group of independent developers picked up the slack and continued to build TON, now renamed The Open Network. This ensured the project’s survival. 

Its development is now supported and guided by a non-profit organization, the TON Foundation, based in Zug, Switzerland. Steve Yun serves as the president of the TON Foundation, while Andrew Rogozov, former CEO of Russian social media site VK, is a founding member.

Throughout 2021 and 2022, the TON community focused on improving the network’s architecture, implementing dynamic sharding, and refining its proof-of-stake consensus mechanism.

Telegram’s continued support and integration

While no longer the architect of the development of TON, Telegram has continued to support the platform. For instance, in September 2023, the messaging app, with more than 800 million users at the time, integrated the TON Space self-custodial wallet. 

This integration was followed by an introduction to an ad revenue-sharing system this past March, where payments are made exclusively in Toncoin (TON), the successor of Gram, thereby fostering further engagement with the TON ecosystem.

In September 2023, Telegram officially endorsed TON, declaring the blockchain and its associated token as the app’s “official web3 infrastructure.” This move has sparked investor interest and led to substantial gains for the TON token.

As a result, the total value locked on TON surpassed $300 million on May 27, 2024, marking a significant milestone fueled by a community rewards program from the TON Foundation.

Telegram’s current role in crypto

Seemingly putting its disappointment at not being able to build the TON network by itself, Telegram has continued to play a pivotal role in the crypto space. The messaging app has become a central hub for the crypto community, providing a platform for discussion, collaboration, and information sharing. 

Telegram groups and channels are widely used for announcements, trading signals, and community building within the crypto ecosystem.

Additionally, the platform’s influence in the crypto space has been further solidified by its recent introduction of new features that cater to crypto users, such as a digital marketplace within the app and integrations with popular wallets like Trust Wallet.

Telegram’s collaboration with Trust Wallet will enable the crypto wallet to leverage the messaging app’s vast user base, focusing on gaming finance and dapps. It will also reportedly allow Trust Wallet’s 100 million users to send and receive TON tokens.

Furthermore, TON announced it would soon support Tether (USDT) tokens on its blockchain, allowing Telegram users to send the stablecoin within the app. 

News of that particular development boosted TON’s value, pushing it up to $7.63 on April 11 from approximately $2.21 a year ago, according to CoinGecko data. 

At the time of this writing, a TON token was going for $5.46, giving the cryptocurrency an overall value of $13.7 billion and making it the tenth-biggest digital asset by market cap, just behind Dogecoin (DOGE).

Rise of mini-apps and the tap-to-play ecosystem

On July 31, Telegram announced it was rolling out a new in-app browser, expanding its blockchain capabilities and user experience. The announcement followed the introduction of a mini app store earlier in the month by CEO Pavel Durov.

This new browser will enable Telegram’s vast user base to access TON sites, a platform for decentralized websites. The Telegram co-founder highlighted that the browser offers features akin to traditional web browsers and integrates web browsing with messaging.

Additionally, you can access the Telegram mini app store through the app’s search feature. According to the announcement, 500 million of Telegram’s 950 million users interact with mini-apps monthly, and they can now find all their mini-apps in one consolidated location. 

The ecosystem also introduces “Stars,” a new in-app payment unit launched on June 7. Users can send Stars to friends and use them for transactions within mini-apps, which can later be exchanged for Toncoin.

Telegram’s mini-apps have been quite successful. Popular applications like Notcoin (NOT) and Hamster Kombat attract millions of users worldwide. In Notcoin, users earn tokens by completing social challenges. The game has amassed more than 35 million users in five months and had a $1.15 billion market cap at the time of writing.

Hamster Kombat, a crypto exchange management simulation game, is no slouch either. It has become one of the fastest-growing web3 applications, reportedly boasting over 300 million users since its launch in March 2024. 

The project plans to launch a significant airdrop for its native token, HMSTR, on the TON network, an exercise it described as the “largest airdrop in the history of crypto.” 

As reported by crypto.news, Hamster Kombat plans to distribute at least 60% of the HMSTR supply to players of the game on Telegram.

Another noteworthy mini-app, Catizen, launched alongside Hamster Kombat, has attracted over 27 million active users. This success led to investment in the app’s publisher, Pluto Studio, from HashKey Capital, a Hong Kong-based crypto venture firm.

However, despite the excitement, some delays have caused frustration among users. The highly anticipated token airdrops for HMSTR and Catizen’s CATI tokens were expected to launch on the TON blockchain in July but have both been postponed

Catizen cited planning challenges, including securing exchanges, ensuring liquidity, and compliance issues, as reasons for the delay. Similarly, Hamster Kombat explained that the complexity of the technical task has pushed back its token release.

Looking ahead

Telegram’s foray into the crypto and digital assets market is a testament to its vision of becoming a comprehensive digital ecosystem. With its approach to monetization and the success of its mini-apps, the messaging platform is positioning itself to continue its growth in the crypto space. 

It also seems like Telegram is planning an initial public offering. In his first interview since 2017, Pavel Durov revealed plans for the messaging app’s financial future, including a potential IPO.

Additionally, Durov told the Financial Times on March 11 that Telegram aims to become profitable by 2025, if not sooner.

Since 2021, Telegram has raised $2 billion through bond issues, with bondholders reportedly set to receive a 10-20% discount on the IPO if it occurs before March 2026. 

Telegram’s journey from a messaging app to a significant player in the crypto space is a testament to its ability to adapt and innovate. Despite facing regulatory challenges and setbacks, it has remained a vital platform for the crypto community.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon