As an experienced analyst with a penchant for deciphering the intricacies of blockchain projects and their impact on the broader cryptocurrency landscape, I find myself rather excited about the upcoming events surrounding Hamster Kombat and the Toncoin network. The rapid growth of Hamster Kombat, particularly its ability to amass 300 million users in its infancy, is nothing short of astonishing.
Prior to the upcoming airdrop for the Hamster Kombat token HMSTR later this month, various centralized cryptocurrency exchanges have declared their intention to back the project by offering listings. In recent announcements, Bybit, a leading crypto exchange with over 43 million users across 160 countries, has planned to list HMSTR immediately following the airdrop event.
According to Coinspeaker’s earlier report, the Hamster Kombat airdrop has been rescheduled for September 26 due to some technical issues. Excited about the Hamster Kombat initiative, which is a Toncoin tap-to-earn game on the Telegram social network, Bybit exchange recently declared their intentions to add HMSTR (Hamster Kombat’s token) to their spot trading market by September 26.
The addition of the HMSTR token on Bybit has ignited excitement within the Hamster Combat community. Notably, Bybit is a prominent cryptocurrency exchange, handling approximately $18 billion in daily trades on average, and Hamster Combat users now have an opportunity to increase their earnings through a referral program.
In response to OKX’s earlier announcement in August, it’s now expected that HMSTR will be listed on Bybit as well.
Previously reported by Coinspeaker, Hamster Kombat achieved a significant milestone of amassing 300 million users in its initial stages. In recognition of its early supporters, the Hamster Kombat team declared their intention to distribute approximately 60% of the total $HMSTR token supply among the community.
Impact of Hamster Kombat on TON Network
The palpable growth of the Hamster Kombat project on the Telegram social platform has majorly positively impacted the Toncoin network. The Toncoin network has already reached a major milestone of 1 billion on-chain transactions, thus outshining most of its peers.
Over the last several months, this high-value altcoin, valued at approximately $25 billion when all shares are taken into account, has consistently surpassed many prominent cryptocurrencies in terms of performance. On an average day, its trading volume amounts to around $378 million.
Based on recent market figures, it’s been estimated that the Toncoin project has approximately $351 million worth of assets secured (Total Value Locked), and its Stablecoin market capitalization stands at roughly $619 million.
Despite recent network issues linked to legal troubles faced by Telegam’s founder Pavel Durov, these events have had a detrimental effect on TON price dynamics. From a technical perspective, the TON price movement suggests a potential reversal trend, as indicated by a head and shoulder (H&S) pattern combined with a bearish divergence in the weekly Relative Strength Index (RSI).
To promote long-term, eco-friendly progress, the Toncoin system introduced the TON: Accelerator Program.
Through the TON:Acc program, five projects will be chosen to secure funding of up to $2.5 million to develop their businesses on the Toncoin blockchain using Telegram’s mini apps, which can be accessed through a simple tap-to-earn feature.
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2024-09-03 20:13