Hamster Kombat disappoints and HMSTR token drops 40% on its debut
The launch of the Hamster Kombat token (HMSTR) surprised the cryptocurrency market in a negative way. This is because the token registered a 30% drop on its first day of trading.
The asset, linked to the blockchain game “Hamster Kombat”, was launched on the TON network and debuted on major exchanges such as Binance, OKX and KuCoin. However, the expectation of an increase was frustrated with the rapid devaluation of the token.
According to market data, the HMSTR token opened trading this Thursday (26). However, he faced difficulties in the early hours. The initial price of the token was around $0.01246, but fell to $0.0074 in the first 24 hours, representing a significant drop of over 40%.
With this devaluation, the market value of HMSTR is now approximately US$476 million, positioning it as the 155th largest cryptocurrency in the world in terms of market value.
Hamster Kombat Performance (HMSTR)
Despite the drop in price, the trading volume of the HMSTR token was impressive. In the first 24 hours, the asset moved around US$366 million on the main trading platforms, with Binance standing out as the largest transaction hub, according to data from CoinGecko and CoinMarketCap. Even with the volatility, interest in the token remains high, with more than 64 billion units in circulation.
However, the sharp drop suggests that the market is cautious about the performance of newly launched tokens, especially those linked to blockchain gaming, a sector known for instability. Trading ranged between US$0.008251 and US$0.01246, highlighting investors' uncertainty regarding the stability of the token.
While HMSTR has struggled, the cryptocurrency market as a whole has shown signs of recovery. In the last 24 hours, the market registered an average appreciation of 0.98%, contrasting with the sharp drop in the Hamster Kombat token.
Experts point out that HMSTR's poor performance may be related to excessive expectations surrounding the launch, as well as a lack of clarity about the real potential of the game Hamster Kombat and its impact on the adoption of the token.