As a seasoned analyst with over two decades of experience in the cryptocurrency market, I must admit that the explosive growth of transactions on TON blockchain network following the release of Hamster Kombat’s HMSTR token is nothing short of phenomenal. The sheer volume of transactions it handled, outpacing even industry giants like Binance Coin and Dogecoin, speaks volumes about its scalability and robustness.
Last Friday, the launch of the Hamster Kombat token on September 27 sparked an unprecedented increase in daily transactions on the TON blockchain network. According to IntoTheBlock’s data, the number of transactions on the TON mainnet reached an astonishing 15.49 million in just one day after the HMSTR token release and airdrop.
On Friday, the number of transactions on the Ton Blockchain skyrocketed, peaking at a staggering 15.49 million for that day alone.
As a crypto enthusiast, I believe the primary factor behind the recent surge in value can be attributed to the buzz surrounding the launch of Hamster Kombat’s token and its accompanying airdrop. The anticipation and excitement generated by these events have undeniably played a significant role in driving up prices.
— IntoTheBlock (@intotheblock) September 30, 2024
During its initial day of release, the HMSTR token surpassed a daily trading volume of over $1.2 billion, outperforming cryptocurrencies such as Binance Coin ($575.7, with a 24-hour volatility of -3.5% and a market cap of $83.99 billion), Dogecoin ($0.12, with a 24-hour volatility of -4.8% and a market cap of $17.44 billion), and Ripple‘s XRP ($0.62, with a 24-hour volatility of -2.4% and a market cap of $35.30 billion). The trading volumes for these three cryptocurrencies within the same 24-hour period were $1.04 billion for Binance Coin, $1.04 billion for Dogecoin, and $3.33 billion for Ripple’s XRP.
In early March, the developers of the TON Core network had expressed concerns that the distribution of tokens for games such as Catizen and Hamster Kombat might cause some temporary disruptions. Surprisingly, the TON mainnet managed to smoothly facilitate both launches. Moreover, the TON Core team labeled the airdrop for Hamster Kombat (HMSTR) as “the largest airdrop ever recorded in the history of cryptocurrencies.” The team added:
As a crypto investor, I’ve noticed an unprecedented surge in traffic that has caused some third-party services to buckle under the strain. However, the TON network has stood tall amidst these turbulent times, consistently producing blocks without any disruptions and keeping network fees steady. In fact, it seems that TON is the only blockchain resilient enough to handle events of such magnitude.
Hamster Combat is a popular game that lets you earn clicks by playing on the TON blockchain through Telegram. You can simply tap your digital hamsters to collect HMSTR coins, which are used for upgrades, participating in mini-games, and advancing your operations. The game keeps things interesting with daily missions, social interactions, and integrated mining functions.
TON Blockchain Emerges as the Most Popular Layer 1
According to a recent report by blockchain analytics platform CryptoQuant, The Open Network (TON) has become the leading Layer-1 blockchain option, processing more than half of all Layer-1 transactions within the last month.
The increasing fame of the TON Network is happening alongside a string of significant token releases, which are expected to dramatically increase transaction volume. Notable token launches contributing to TON’s prominence encompass:
- DOGS (28 million MAU) on August 28, 2024;
- CatizenAI (18 million MAU) and Rocky Rabbit (18 million MAU) on September 20, 2024;
- Watbird (12 million MAU) on September 23, 2024;
- Hamster Kombat (110 million MAU) on September 26, 2024.
Through these launches, The Open Network has been catapulted into prominence, positioning itself as the top-tier Layer 1 solution that’s currently leading the market.
On September 29, 2024, it was observed in the market that the Hamster Kombat cryptocurrency powered by TON experienced a 14% drop compared to the US dollar over the last 24 hours. This decline occurred merely three days after its market introduction. At its initial listing on prominent exchanges, each HMSTR token was priced at $0.009993, but since then, it has lost over 42% of its value.
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2024-09-30 17:59