Hamster Kombat's recent debut of the HMSTR token saw a sharp 35% drop, causing concern among those who received tokens from the airdrop event.
Starting at $0.014, the token’s value has now dropped to around $0.009.
Built on The Open Network (TON) blockchain, Hamster Kombat is a popular tap-to-earn game. In its first season, the game distributed 60 billion tokens to 131 million eligible users.
TON’s blockchain handled significant user activity after the token launch, which caused some network slowdown.
“We would like to inform you that we expect increased activity on the TON blockchain starting at 10:00 UTC on September 26” the network previously said.
Trading began on Thursday, with tokens listed on major exchanges such as Binance, OKX, and Bitget. Along with trading, the platform also opened on-chain requests for tokens, allowing users to download them instantly.
A proposal on Curve Finance is aiming to eliminate TrueUSD (TUSD) as collateral for its crvUSD stablecoin due to worries about TUSD’s stability and regulatory concerns.
PayPal’s stablecoin PYUSD has lost nearly 30% of its market capitalization in the past 30 days, falling from over $1 billion to $709 million as of September 26.
A prominent cryptocurrency analyst warns that Toncoin (TON), a notable competitor to Ethereum (ETH), may face significant selling pressure soon.
Recent activity from Justin Sun, founder of the Tron blockchain, has drawn attention after millions in TUSD, a US dollar-pegged stablecoin, were transferred to various addresses.