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The TON Core development team called the Hamster Kombat HMSTR airdrop the “largest-ever airdrop in crypto’s history” while handling the launch very swiftly.
Key Notes
The release of the Hamster Kombat (HMSTR) token on September 27, 2024, led to a massive spike in daily transactions on the TON blockchain.Hamster Kombat's token saw over $1.2 billion in trading volume within its first 24 hours, outperforming major cryptocurrencies like Binance Coin (BNB), Dogecoin (DOGE).Despite the initial surge, the Hamster Kombat (HMSTR) token experienced a 14% drop in value three days after its debut.The Hamster Kombat token released last Friday, September 27, led to an explosive surge of daily transactions on the TON blockchain network. As per the data from IntoTheBlock, the daily transactions on the TON mainnet skyrocketed to 15.49 million in a single day following the HMSTR token HMSTR $0.0057 24h volatility: 3.0% Market cap: $366.98 M Vol. 24h: $266.14 M release and airdrop.
The @ton_blockchain witnessed an explosive rise in transactions on Friday, reaching as high as 15.49 million in a single day.
The main reason for this increase was the hype around the release of @hamster_kombat's token and airdrop. pic.twitter.com/bfNDa69oc0
— IntoTheBlock (@intotheblock) September 30, 2024
Within the first 24 hours of launch, the HMSTR token saw more than $1.2 billion in daily trading volume leaving behind the likes of Binance Coin BNB $575.9 24h volatility: -3.6% Market cap: $83.95 B Vol. 24h: $1.04 B , Dogecoin DOGE $0.12 24h volatility: -5.0% Market cap: $17.40 B Vol. 24h: $1.04 B , and Ripple’s XRP XRP $0.63 24h volatility: -1.9% Market cap: $35.30 B Vol. 24h: $3.37 B .
Earlier this month, the TON Core developers had warned that the airdrops for games like Catizen and Hamster Kombat could lead to some network interruptions. However, the TON mainnet handled both launches very swiftly. Additionally, the TON Core development team called the Hamster Kombat HMSTR airdrop the “largest-ever airdrop in crypto’s history”. The team further noted:
“This massive surge in traffic has caused some third-party services to experience overloads, but TON network has generally remained stable, with blocks continually produced without interruption and network fees remaining fixed. TON is probably the only blockchain that can withstand events of this magnitude.”
Hamster Kombat is a click-to-earn gaming sensation hosted on the TON blockchain via Telegram. Players can just tap away the Digital hamsters to rake in HMSTR coins used for upgrades, joining mini-games, as well as leveling up operations. The game adds excitement with daily missions, social features, and integrated mining mechanics.
TON Blockchain Emerges as the Most Popular Layer 1
As per the recent report from blockchain analytics platform CryptoQuant, The Open Network (TON) has emerged as a dominant Layer-1 blockchain solution while capturing a total of over 50% of all Layer-1 transactions in the past month.
This surge in the popularity of the TON Network comes amid a series of major token launches that will significantly boost transaction activity. Key token launches driving TON’s dominance include:
DOGS (28 million MAU) on August 28, 2024; CatizenAI (18 million MAU) and Rocky Rabbit (18 million MAU) on September 20, 2024; Watbird (12 million MAU) on September 23, 2024; Hamster Kombat (110 million MAU) on September 26, 2024.These launches propelled The Open Network to the forefront, making it the most popular Layer 1 solution currently in the market.
On Sunday, September 29, 2024, market data showed that the TON-powered cryptocurrency Hamster Kombat (HMSTR) saw a 14% decline against the US dollar in the past 24 hours, just three days after its market launch. Initially priced at $0.009993 per token upon its debut on major exchanges, HMSTR has now lost more than 42% of its value.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
