Hamster Kombat Token Falls 50% And Catizen Token Drop 60% Since Launch
A number of fashionable tap-to-earn video games, together with Hamster Kombat, Catizen, DOGS, and Notcoin, are experiencing important declines in token worth. These video games, recognized for his or her easy gameplay and big consumer base, have seen their tokens drop sharply since their current airdrops.
One of many greatest hits is Catizen, a significant participant in Telegram-based gaming. The CATI token has dropped from $1.1500 to $0.4565, bringing its market cap all the way down to $139 million, with a completely diluted valuation (FDV) of $400 million.
Equally, Notcoin (NOT), the primary Telegram tap-to-earn sport, has seen a 74% lower in its valuation, from over $2.5 billion to $770 million.
Hamster Kombat, the trade’s largest tap-to-earn sport, has not been spared. Its token has fallen every day since its airdrop final week. The market cap has decreased from $600M to $300M , whereas its FDV now stands at $465 million. Different notable video games, like DOGS and Pixelverse, have additionally skilled steep declines following their listings.
What’s Telegram’s Faucet-to-Earn Trade?
Faucet-to-earn video games have emerged as a well-liked subset of the crypto gaming trade, providing customers the power to earn tokens by easy actions like tapping buttons, watching movies, and finishing duties. Not like conventional play-to-earn video games reminiscent of Axie Infinity or Decentraland, tap-to-earn video games are simply accessible through the Telegram app, requiring solely a low-end smartphone and no difficult wallets or setups.
Video games like Hamster Kombat, Notcoin, DOGS, and Catizen have rapidly gained huge followings. For instance, Hamster Kombat boasts over 300M customers, with important traction throughout platforms like YouTube and X (previously Twitter). Different video games like PixelTap and TapSwap have additionally attracted hundreds of thousands of gamers.
Nevertheless, regardless of this reputation, the monetary aspect of those video games has struggled. Gamers accumulate tokens in hopes of changing them into fiat currencies when airdrops happen, however these tokens haven’t held their worth post-listing.
Why Have These Tokens Crashed?
A number of components have contributed to the decline in tap-to-earn token costs. First, many airdrops within the crypto house, like these of Wormhole and ZkSync, have carried out poorly this 12 months, setting a regarding pattern. Second, many gamers have been fast to promote their tokens after airdrops, driving costs down as a result of liquidity surges. Hamster Kombat, specifically, has seen large-scale promoting of its HMSTR token.
Moreover, considerations about future token dilution are impacting market sentiment. Whereas some video games, like Notcoin, have launched all of their tokens, others—reminiscent of Hamster Kombat and Catizen—have a major variety of tokens but to be unlocked, elevating fears of additional dilution.
Wanting Forward
The sharp decline of tap-to-earn tokens mirrors the struggles confronted by conventional play-to-earn tokens. Analysts anticipate additional challenges forward as gamers transfer on to new video games, questioning whether or not different anticipated tasks, like Pi Community 2025 airdrop, will face the same destiny.
Learn Extra: X Empire Airdrop Standards: Key Elements to Maximize Your Tokens