HMSTR Token Drops 42% in First Three Days of Trading | usagoldmines.com

TLDR

HMSTR token dropped 14% in one day, 42% in three days
Current price: $0.005613, all-time low reached on Sunday
Market cap: $365 million, ranked 193rd among cryptocurrencies
64,375,000,000 HMSTR in circulation, $248 million traded in 24 hours
Top 5 wallets hold 93.95% of total HMSTR supply

The TON-based cryptocurrency Hamster Kombat (HMSTR) has seen a substantial decline in value since its recent launch.

Data from Sunday, September 29, 2024, shows that the token’s price fell by 14% against the U.S. dollar in a single day, contributing to a total decrease of over 42% in just three days since its debut on major exchanges.

HMSTR, the native token for the Web3 game Hamster Kombat, initially traded at $0.009993 when it first appeared on exchanges.

However, by Sunday, the price had plummeted to $0.005613, marking a new all-time low for the cryptocurrency. This sharp decline follows a reported 30% drop in value on its opening day of trading.

Hamster Kombat is a click-to-earn game hosted on the TON blockchain through Telegram. Players earn HMSTR coins by tapping on digital hamsters, which can then be used for in-game upgrades, participating in mini-games, and advancing their operations.

The game includes features such as daily missions, social elements, and mining mechanics to engage players.

The HMSTR token was distributed through an airdrop to active players, rewarding them for their achievements and engagement within the game.

Hamster Kombat Price on CoinGecko

Despite its recent price struggles, HMSTR still maintains a market capitalization of $365 million, positioning it as the 193rd largest cryptocurrency out of more than 10,000 digital assets.

Currently, there are 64,375,000,000 HMSTR tokens in circulation. In the past 24 hours, the token has seen $248 million in global trading activity, with Binance emerging as the most active exchange for HMSTR trades.

According to data from tonscan.com, HMSTR has 12,498,400 holders, and its maximum supply is set at one hundred billion tokens.

The distribution of HMSTR tokens shows a high concentration among a small number of wallets. The top wallet holds 61,362,223,003 tokens, which represents 61.36% of the total supply.

Binance’s hot wallet ranks second, holding 14,356,128,737 HMSTR, or about 14.36% of the total supply. Notably, the top five wallets collectively control 93.95% of the entire HMSTR supply, indicating a significant concentration of ownership.

This concentration of tokens in a small number of wallets could potentially impact the token’s price stability and liquidity in the future.

The success and stability of HMSTR may depend on its ability to broaden its holder base and maintain player engagement in the Hamster Kombat game.

The trading volume for HMSTR over the past 24 hours reached $248 million, suggesting active interest in the token despite its price decline. However, like many newly launched cryptocurrencies, HMSTR has experienced a volatile start in the market, which may present challenges for its future stability.

The post HMSTR Token Drops 42% in First Three Days of Trading appeared first on Blockonomi.