Popular Telegram game Hamster Kombat has now launched its long-awaited HMSTR token Thursday on The Open Network (TON), and while some players complained of smaller-than-expected airdrops feeling like “dust,” the token saw sizable trading action in its first day on the market.
Some people are alarmed at this dusty start. However, the thing is if you were affected, how will your efforts be toward Kombat mining?
HMSTR logged more than $1.2 billion worth of trading volume in its first 24 hours, per data from CoinGecko early Friday, putting it not far behind the 24-hour trading of top cryptocurrencies like Binance Coin (BNB), Dogecoin (DOGE), and XRP.
The token is currently priced at $0.0067, down approximately 18% over the last 24 hours and settling at a current market cap of about $430 million.
That seems to go down well with some crypto investors and it seems like a good start.
That put it in the top 200 overall coins by market cap, though it’s notably below the $970 million market cap of Notcoin, the original game that kick-started the Telegram tap-to-earn craze earlier this year.
More importantly, will the Open Network would be able to handle the strain of distributing the token to potentially over 100 million players? That’s one big question needing an answer.
That question was prompted in late August when the network stopped producing blocks—effectively shutting down—twice in a single week due to immense demand for airdrop claims for a meme coin called DOGS. The spurts of downtime bookended the announcement of the Hamster Kombat airdrop and token launch date.
TON Core developers even warned earlier this month that airdrops for games like Hamster Kombat and Catizen could lead to further network interruptions.