‘Hamster Kombat’ and ‘Catizen’ Game Tokens Plummet by 50% After Telegram Airdrops

Simply days after a pair of outstanding Telegram video games launched their long-awaited tokens on The Open Network (TON), the costs of each have fallen greater than 50% from their respective peak costs.

Hamster Kombat, which attracted some 300 million gamers to its Telegram mini app over the previous few months, launched its HMSTR token final Thursday to blended reception from gamers. About 129 million gamers have been eligible for the token declare, and a few complained that their allocations were “dust” and far smaller than anticipated.

Now, simply 5 days after the launch, the value of HMSTR has plunged by 53% to a present value of $0.047, per knowledge from CoinMarketCap, falling from a day-one peak of roughly $0.01. It’s down 18% in the present day alone amid a broader market decline apparently triggered by tensions between Israel and Iran.

Be aware that there’s some discrepancy between value sources on the all-time excessive mark for HMSTR, because of early volatility following the token launch. CoinGecko, for instance, factors to a peak value of simply $0.072, leading to a 35% dip as of the present value. Nevertheless, main exchanges like Binance and Crypto.com present a peak value near the CoinMarketCap mark.

In the meantime, the CATI token of Telegram recreation Catizen has dropped even additional since launching on September 20, down 58% as of this writing to a current price of $0.47. It’s down 18% on the day, and peaked at a value of $1.11 on the launch date final month. Like Hamster Kombat, many players grumbled about their Catizen airdrop allocations.

All of this 12 months’s biggest gaming tokens are down sharply, together with Notcoin (NOT), which has fallen practically 74% from its peak worth again in June. That’s true for non-Telegram video games, too.

Newly launched tokens are sometimes unstable, however gaming tokens are likely to swing wildly—very similar to meme cash. This can be due partially to the comparatively nascent state of the crypto gaming area, or might mirror a insecurity from traders that the video games have endurance.

Telegram crypto video games have attracted enormous audiences with the attract of free cash, however have but to show that they’ve substantial life past the airdrop. Hamster Kombat and Catizen have each spelled out extensive future plans, together with launching extra video games and providing additional token rewards, however costs are nonetheless plunging within the brief time period.