Hamster Kombat (HMSTR) Token Price Drops 20% After Listing on Binance and Other Exchanges

The listing of Hamster Kombat's HMSTR token witnessed a dramatic 20% drop in its price, stirring discussions among airdrop winners.

HMSTR, the native token of Hamster Kombat, saw a notable 20% decrease in value after its listing on several cryptocurrency exchanges. Initially trading at $0.014, the token's price slipped to approximately $0.011.

Hamster Kombat, a tap-to-earn game built on The Open Network (TON) blockchain, rewarded 131 million qualifying players with a distribution of 60 billion tokens from its first season.

The TON blockchain, which is closely linked with Telegram, experienced high user traffic following the token launch. Since launching in March, the game itself has amassed over 300 million users.

Trading commenced at 12:00 UTC on Thursday with listings on Binance, OKX, Bitfinex, Bitget, and other prominent exchanges. Along with the trading, the platform enabled on-chain token claims, providing users with immediate withdrawal options.

This token release serves as a major benchmark for Hamster Kombat and also poses a crucial test for the TON blockchain. The blockchain earlier experienced outages during the DOGS airdrop in August.

To handle the massive load, developers had forewarned about the increased load expected from transactions by Hamster Kombat’s extensive user base.

“We would like to notify you that from the 26th of September 10:00 UTC we are expecting an increased load on the TON blockchain. This is as the Hamster Kombat game project with more than 100 million monthly active users will be minting coins on the blockchain. This is a unique and first event of this scale for the blockchain industry,” the TON team stated.

Moreover, Hamster Kombat unveiled its strategic roadmap on Wednesday. The plan details the development of a Web3 gaming platform that integrates external payment systems and introduces new games.

It also incorporates non-fungible tokens (NFTs) as in-game assets. Additionally, the roadmap includes the creation of a dedicated advertising network to support the games. Revenues from this network will fund token buybacks and rewards distribution.

Only 43% of the game’s total user base received tokens in this airdrop. Furthermore, 11.25% of the tokens distributed during the first season are locked for 10 months. This distribution strategy and the lock-up period aim to stabilize the token price and foster long-term value for holders.