Hamster Kombat (HMSTR) Futures Price Drops to a Record Low as Concerns About the Tap-to-Earn Market Rise

The Hamster Kombat (HMSTR) futures fell to a low of $0.1645 on Sunday, down by over 45% from its highest point this month.

The futures price of Hamster Kombat dropped to a record low in the derivatives market amid rising concerns about the tap-to-earn sector.

HMSTR futures fell to a low of $0.1645 on Sunday, down more than 45% from this month's high. The decline comes as the platform's token holders await the official airdrop, which is scheduled to take place later this year.

The developers stated in a recent whitepaper that players will only receive 60% of their tokens during the airdrop. They also expect it to be the largest airdrop in the crypto industry.

With Notcoin's (NOT) valuation exceeding $1.2 billion, Hamster Kombat's larger brand presence could propel it to a valuation of around $8 billion. Hamster boasts over 300 million active users and a thriving social media presence, with 35+ million YouTube channel subscribers and 12.6 million X followers.

Hamster Kombat's price action mirrors that of other leading tap-to-earn tokens, which have crashed in recent weeks.

Notcoin, a platform with 50+ million users, has dropped by more than 60% from this year's highest point, shedding $1.7 billion in market capitalization.

Pixelverse (PIXFI) token has also crashed by 82% from its all-time high, while Avacoin (AVACN) has retreated by almost 90%.

Hence, there are concerns that Hamster Kombat's spot price will also plummet after the airdrop as many holders may sell the token quickly.

Other play-to-earn and move-to-earn tokens have typically surged and then retreated as demand fizzled out. Axie Infinity (AXS) token has crashed from a record high of $171.45 to below $5.

Hamster will face the challenge of keeping users engaged after the token listing. Earlier this month, Notcoin announced its venture into Web3 gaming to sustain user engagement.

It remains to be seen whether users will flock to this game, especially considering the presence of several other Telegram games, such as Catizen, Notai, Gamee, and Twin Token, which have collectively added more than 7.5 million users.