As a seasoned analyst with over two decades of experience in the crypto market, I’ve seen countless projects rise and fall. However, the growth trajectory of X Empire on the Telegram platform is unlike anything I’ve witnessed before. The community-driven approach, coupled with the integration of Toncoin wallets, has resulted in an unprecedented surge in user adoption.
In just three months following its debut, the Telegram-centric tap-to-earn platform, X Empire (inspired by Elon Musk), has experienced significant triumphs. A recent update on Telegram reveals that over 47.9 million users have joined X Empire since its launch. Notably, approximately 91% of these players have been onboarded through the invitation system, transforming X Empire into a primarily community-driven game.
Approximately 38% of the 47.9 million players from X Empire have linked their accounts with Toncoin (TON), with a current value of $5.80 each. Over the last 24 hours, its volatility has decreased by 0.6%. With a market capitalization of $14.66 billion and a 24-hour trading volume of $303.11 million, Toncoin wallets have been extensively used within the Telegram community. Since the debut of the tap-to-earn game, about 483 billion X tokens have been mined.
The announcement further noted that 570K NFT vouchers have been minted to date. The rising activity in the X Empire mini-app has helped the team burn more in-game coins, thus giving more value to the users’ holdings.
Currently, the X Empire game has given away more than 116 million ‘Telegram Stars’. Meanwhile, on different platforms, the X Empire game revealed it has exceeded 224 million views on its Telegram channel.
The team behind X Empire plans to keep developing their mini-game app with a focus on drawing in more users soon. Additionally, it’s worth noting that the Telegram community, numbering approximately 1 billion worldwide users, has been progressively incorporating the Toncoin Network into their activities in recent times.
X Empire Aims at Inevitable Community Airdrop
Telegram’s mini-apps, particularly Notcoin, Babydoge coin, and Hamster Kombat, have seen significant growth recently. Notcoin has a current price of $0.0089 and a 24-hour volatility of -0.2%, with a market cap of $907.69M and a 24-hour volume of $231.17M. Similarly, Babydoge coin and Hamster Kombat have prices of $0.0053 and $0.0053 respectively, with volatilities of -7.7% and -7.7%, market caps of $342.12M and $342.12M, and 24-hour volumes of $208.59M and $208.59M respectively. These mini-apps are creating strong communities and introducing meme coins that actively challenge the dominance of utility-based cryptocurrency tokens within their multi-chain ecosystems.
It’s anticipated that the X Empire will soon carry out a community distribution (or “drop”) in the coming weeks, which aligns with their development strategy.
Earlier, as Coinspeaker reported, the X Empire is planning to follow the footsteps of Elon Musk’s success by introducing a meme coin similar to Dogecoin. Notably, their team has declared that the launch of their native token will occur in October, with potential listings on top-tier cryptocurrency exchanges expected subsequently.
To draw in more cryptocurrency investors, the X Empire team has declared that their token won’t include any lockups or vesting periods, ensuring a balanced distribution instead.
Market Picture
In the future, it’s anticipated that the surge in Telegram’s mini-apps will be mirrored by the Toncoin (TON) project. This significant altcoin, worth approximately $30 billion when fully diluted and trading over $288 million daily, ended September on a positive note, hinting at a bullish trend.
Based on current market information, the value of TON increased by approximately 4% last week, reaching about $5.83 in the early New York trading session on Tuesday.
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2024-10-01 16:02