Hamster Kombat Token Volume Exceeds $1 Billion As Price Nosedives After Airdrop
The Hamster Kombat airdrop, which distributed 60 million tokens, has led to an unexpected price drop of over 20%. Despite $1 billion in trading volume, the token has struggled, trading at $0.006773. Speculative activity and sell-offs continue to push the price downward, leaving users dissatisfied.
The much-anticipated Hamster Kombat airdrop occurred on September 26, distributing 60 million HMSTR tokens to eligible players. However, the launch did not meet the high expectations, resulting in many players selling their tokens soon after the distribution. This post-listing sell-off has led to significant price drops and widespread dissatisfaction among participants.
Price Decline After Launch
Online advertising service 1lx.online
The HMSTR token was listed on several major exchanges at 12:00 UTC and initially started trading at $0.014. Despite being listed on platforms like Binance, the price has plummeted due to several contributing factors, including widespread sell-offs post-listing, confusion over the airdrop distribution, and a mandatory lock-up period of 11% of the tokens. The lock-up period was not communicated clearly to participants ahead of time, adding to the uncertainty and frustration.
Currently, Hamster Kombat’s token price is hovering around $0.006773, representing a 20% decrease in the last 24 hours. This decline is happening even as broader market trends show price increases for other cryptocurrencies.
Volume Surges Amid Price Decline
Interestingly, while HMSTR’s price continues to fall, its trading volume has skyrocketed, surpassing $1 billion. Trading volume is an important indicator of market interest, with higher volume usually signifying increased buying and selling activity. However, in this case, the rising volume paired with a falling price is considered a bearish signal, indicating strong downward pressure on the token.
Additionally, the token has seen a surge in derivatives trading volume, pointing to increased speculative activity around HMSTR. However, similar to the rising trading volume, this spike in derivatives activity coupled with the declining price further signals potential trouble for the token.
Future Prospects for HMSTR
Many players who participated in the airdrop have voiced their dissatisfaction, with some reporting average rewards of only $8. The high number of participants—despite Hamster Kombat banning 2.3 million players from eligibility—diluted the rewards significantly.
For HMSTR to rebound, selling pressure would need to ease, potentially allowing the price to recover toward $0.0080. However, as of now, Hamster Kombat has not responded to the community’s discontent.
The current market capitalization for Hamster Kombat stands at $435 million, a significant drop from the value speculated before the token’s listing. With the price continuing to decline, questions remain about its future price movements and overall market stability.
Online advertising service 1lx.online
Our creator. creates amazing NFT collections!
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)
Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.
Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).
Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)
Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)
