As a seasoned researcher who has followed the crypto market for years now, I must admit that the upcoming listing of Catizen (CATI) on Bitget piques my interest. My first experience with Telegram-based games was a rollercoaster ride with Notcoin (NOT), and I can’t help but draw parallels between the two.
Bitget, the cryptocurrency exchange, has revealed plans to add Catizen’s CATI token to its platform from September 20. This fast-expanding Tap-to-Earn (T2E) game, based on Telegram, will have its CATI token available for trading in the spot market.
In simple terms, the mini-app available on Telegram is a cat-themed virtual city built on blockchain technology. Here, gamers collect CATI tokens by completing different in-game missions and activities. This game has drawn over 2 million players into its blockchain network and has become a notable expansion to the gaming environment that originally included Notcoin (NOT).
Pre-Market Trading and Price Discrepancies
As a budding crypto investor, I’m excited about the imminent listing of CATI on Bitget, which marks its entry into the cryptosphere. I see it as a promising newcomer ready to take on established players like NOT and DOGS in the T2E (To-the-Earners) market. This is an opportunity that I’m eagerly looking forward to exploring!
On September 20, the token is set to make its formal launch on The Open Network (TON) blockchain. Originally, it was planned for a release in July. Upon its debut, CATI will become available for trading right away on Bitget and various other digital asset exchange platforms, all happening simultaneously on that same day.
As Catizen prepares for its official debut on the TON blockchain, its token, CATI, can already be traded before the market opens on various centralized exchanges. However, there have been observed differences in the price of CATI across these platforms. For instance, on Bybit, the price stands at $0.50, representing a 21.95% increase over the past 24 hours, whereas it is quoted at $0.43 on Bitget.
Experts link the price disparities to variables like the substantial amount of tokens distributed through airdrops. The creators of the game revealed that the total supply of CATI would be capped at 1 billion, with nearly 43% earmarked exclusively for ecosystem giveaways. Analysts caution that this extensive distribution could induce short-term price instability as users quickly sell their tokens, potentially impacting CATI’s market value.
Even though about half of the total tokens are earmarked for rewards in airdrops, less than 10% of the entire supply is set aside for providing liquidity and investments combined.
Binance Labs Invests in Catizen
Despite doubts about whether Citizen’s CATI game may match the astronomical success of other T2E games like NOT, which recorded a staggering $294 million in trading volume within its first hour, the project boasts solid support from influential figures in the industry, such as Binance Labs.
On July 23rd, Binance, a global leader in venture capital and incubation for cryptocurrency exchanges, made a strategic investment in Pluto Studio – the publishing platform of Catizen’s games on Telegram. This investment aims to boost the expansion and growth of the Telegram-based game. As per Binance Labs, the funds will primarily be utilized by Pluto Studio to expand its mini-app within Catizen and strengthen their game engine development, thereby inviting more developers into the ecosystem.
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2024-09-06 16:07