Hamster Kombat Token Sees $1.3 Billion in Trading Volume Despite Drop in Active Users

Hamster Kombat, the Web3 game built on the Telegram Mini App, has seen a significant surge in its cryptocurrency token despite a recent decline in active users.

As of November 14, the game’s token, Hamster Kombat (HMSTR), has reached impressive trading volumes. Daily spot trading for the token has soared to $1.3 billion, while perpetual trading volume has hit $4 billion.

The Hamster Kombat team announced that the token now has 11 million holders, a number they likened to filling 239 Yankee Stadiums with “hamsters” who believe in the token’s value.

Even though the game experienced a sharp drop in active users recently, the community’s sentiment remains largely optimistic. CoinMarketCap data reveals that 73% of voters are bullish on the token, while 27% have a bearish outlook. This optimism persists despite the game’s active monthly users plummeting from 300 million in August to just 41 million by November 5, a staggering 86% decline. Further data from IntoTheBlock shows that active addresses have also fallen drastically, from over 700,000 on September 27 to just above 20,000 by November 13.

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Along with the drop in users, the token’s price fell from its peak of $0.01 on September 26 to $0.0022 by November 4. However, the HMSTR token showed signs of recovery, climbing back to $0.004401 on November 14.

At Binance Blockchain Week in Dubai, experts discussed the challenges of user retention in Web3 games. Sasha Plotvinov, co-creator of Notcoin, emphasized that retaining users requires creating social and emotional connections within the game, offering experiences that are unique and emotionally engaging. This focus on emotional investment is seen as key to keeping players engaged long-term.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.