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Cryptocurrency News Articles
Hamster Kombat’s HMSTR Token to Debut on Major Exchanges, Including Bybit, OKX, and Gate.io, on Sept. 26, 2024
Sep 05, 2024 at 11:18 am
Alongside the listing, over 1 billion tokens will be distributed in a large airdrop designed to boost user engagement.
Hamster Kombat (HMSTR) Token to Hit Major Exchanges on Sept. 26 with Massive Airdrop
NAIROBI (CoinChapter.com) — Fresh from its listing on TON DEX, Hamster Kombat’s HMSTR token is set to debut on major cryptocurrency exchanges, including Bybit, OKX, and Gate.io, on Sept. 26, 2024.
The token will be available for trading against USDT, BTC, and ETH on the exchanges. Additionally, there will be a large airdrop of over 1 billion tokens to encourage user engagement.
However, the substantial size of the airdrop has raised concerns about potential market volatility when trading begins. The project is also leaning into a community-driven approach, allocating 60% of the total token supply to miners and leaving out venture capitalists to create a decentralized ecosystem.
But with such a large number of tokens entering the market, some worry this could impact the token’s price after the initial listing.
Analyst Warns of Post-Airdrop Decline for Hamster Kombat
Vladislav Antonov, a financial analyst at Bitriver, told Russian media that Hamster Kombat’s success after the airdrop might not last long.
He expects the airdrop to spark interest initially, but believes many users will quickly trade their HMSTR tokens for other cryptocurrencies.
“If the game sticks to basic screen-tapping, users will lose interest fast,” Antonov said.
Moreover, Antonov highlighted the game’s simple tap-to-earn mechanics, which he believes may not keep users engaged for long.
He also flagged concerns about the token’s distribution process and potential legal challenges tied to the game’s origin.
Additionally, Antonov noted the risk of the TON blockchain becoming overwhelmed by the large number of airdrop claims, similar to what happened with the DOGS token last week.
If TON faces similar problems, the project could struggle to gain market confidence, further impacting the post-airdrop performance of Hamster Kombat Token.
There is also speculation about a potential Binance listing, although there has been no confirmation from the exchange. A Binance listing would likely boost the token’s liquidity and visibility.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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