TLDR
- The HMSTR token nosedived by 14% in a single day and accumulated a total drop of 42% over three days.
- The token recently hit a new low, priced at $0.005613, marking its all-time lowest point reached on a Sunday.
- It has a market capitalization of $365 million, placing it at the 193rd spot in the cryptocurrency rankings.
- Out of the total circulating supply of 64,375,000,000 HMSTR, $248 million was traded in just 24 hours.
- Top 5 wallets hold 93.95% of total HMSTR supply
The TON-based cryptocurrency Hamster Kombat's (HMSTR) value has seen a notable downward trend following its market debut.
Reports from Sunday, September 29, 2024, indicate that the token depreciated by 14% within a single day, summing up to a loss exceeding 42% merely three days after its launch on major exchanges.
When Hamster Kombat's native token, HMSTR, first made its presence known on exchanges, it started trading at $0.009993.
However, by the end of Sunday, it had dropped to $0.005613, setting a new all-time low following an initial 30% decrease on its launch day.
Hamster Kombat is a click-to-earn game leveraging the TON blockchain via Telegram, where players tap on digital hamsters to earn HMSTR coins. These coins can be used for game upgrades, engaging in mini-games, and furthering gameplay advancements.
The game features daily missions, social interaction layers, and mining activities to actively engage its player base.
Active players were awarded HMSTR tokens through an airdrop, acknowledging their accomplishments and engagement within the game.
Despite recent price challenges, HMSTR holds a market cap of $365 million, keeping it as the 193rd largest crypto within an expansive list of over 10,000 digital currencies.
With 64,375,000,000 HMSTR tokens currently in circulation, the past day has seen $248 million in trades globally, with Binance proving to be a leading exchange for its transactions.
According to data from tonscan.com The number of HMSTR holders stands at 12,498,400, with an ultimate maximum supply established at 100 billion tokens.
A striking concentration of HMSTR tokens remains in a select few wallets, where the top wallet alone holds 61,362,223,003 tokens, making up 61.36% of the total supply.
The following largest wallet, Binance's hot wallet, contains 14,356,128,737 HMSTR, or 14.36% of the entire supply. Together, the top five wallets control 93.95% of all HMSTR tokens, signifying a dense ownership concentration.
Such token concentration within a few wallets could influence HMSTR's price stability and market liquidity in the future.
HMSTR's ongoing growth and stability could heavily rely on broadening its holder base and sustaining player interest within Hamster Kombat.
In recent 24-hour trading, HMSTR saw a trading volume of $248 million, showing active interest despite the recent price downturn. Like many new cryptos, HMSTR faces a bumpy start, which could pose issues for its stability going forward.
