Mon, 10/07/2024 - 08:38
Amid much fanfare and anticipation, the Hamster Kombat token went live last week as exchanges everywhere began offering the new crypto asset to their clients. However, since it began trading on 26 September, its performance has been lacklustre, to say the least. In fact, it lost over 50% of its value in its first week of trading, dropping from $0.01004 to a price of just $0.004653. Many analysts have posited that this poor start is down to problems with its initial airdrop, which was marred by last-minute disqualifications, delays in token distribution, and lower-than-expected token values. Yet, with a bumper market cap of $348,335,045, the Hamster Kombat token is still the 162nd biggest cryptocurrency. When coupled with its utility as a game-based token, this means that HMSTR is far from game over.
But what exactly is Hamster Kombat, and where did it come from?
Hamster Kombat is a crypto-based mobile gaming app built on The Open Network (TON) that is available to play exclusively on the Telegram platform. It was launched in March 2024, and since then, it has attracted millions of players thanks to its exciting, novel gameplay, in which players control hamster CEOs in charge of a fictional crypto exchange. Its play-to-earn (P2E) model that rewards players with real cryptocurrency in the form of HMSTR tokens is also appealing. However, following its airdrop and listing by numerous online exchanges, the HMSTR token can now also be traded outside of the game by anyone.
What makes HMSTR special?
As we've already touched upon, HMSTR is built on The Open Network, a blockchain that is famed for its high speeds and low transaction costs. This makes HMSTR a token that is easy and cheap to trade, as well as a viable unit of exchange for goods or services. Another positive feature of HMSTR is its limited supply. There are only 100,000,000,000 tokens in existence, which means HMSTR is anti-inflationary, a rare quality among gaming tokens. Finally, each hamster in the game is also an NFT that can be traded using the HMSTR token, opening up a world of possibilities for monetisation of the token beyond simple trading and exchanging.
Where can I get HMSTR?
Tokens can be acquired by playing the Hamster Kombat game and mining them yourself or earning additional HMSTR through upgrades and missions. Now, you can also trade the token openly on a variety of crypto exchanges without ever having to play the game. But for those who find navigating the digital world of hot wallets and crypto keys disorienting, there's now an even better way to explore HMSTR: you can buy or sell a CFD right here on Libertex. Best of all, with Libertex, you can trade long or short, with leverage of up to 2:1 for crypto CFDs, in the award-winning and user-friendly Libertex online trading app or MetaTrader 4 and 5. For more information, visit www.libertex.com/signup today and create an account of your own.
