|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Hamster Kombat (HMSTR) Plummets After Major Exchanges Listing, Monthly Active Addresses Soar
Sep 28, 2024 at 06:30 am
Hamster Kombat [HMSTR], a popular tap-to-earn game on Ton Blockchain, recently captured attention within the crypto community. Since its launch six months ago
Popular tap-to-earn game on Ton Blockchain, Hamster Kombat [HMSTR], recently captured attention within the crypto community.
Since its launch six months ago, it has managed to gather more than 300 million users.
HMSTR listed across major exchanges
On the 26th of September 2024, HMSTR saw a shift in market dynamics after several crypto exchanges listed it.
The altcoin was listed on major platforms like Binance, OKX, and Kucoin. Following the listing on Binance, the exchange outpaced others in capturing the market flow.
As such, Binance pre-deposits exceeded 6.2 billion tokens and the balance following the listing reached a record 18 billion, which is 18%.
In other exchanges such as Bybit, pre-deposits were 3 billion tokens which was 4.6% while OKX had 4.1%.
HMSTR plummets after listing
While the listing was highly anticipated, the market had an immediate negative reaction.
HMSTR experienced a sharp decline shortly after listing. While its pre-market futures high was $0.3865, the opening prices did not match expectations.
The initial trading price was $0.014 which declined by 32.6% to $0.011. Shortly after, HMSTR further plummeted to $0.0088.
Therefore, the altcoin has experienced a sustained decline since the listing. In fact, at the time of writing, HMSTR was trading at $0.006791.
This marked a 30.42% decline over the past day. Over the same period, its market cap declined by 30% to $437 million, according to Coinmarketcap.
On the upside, although HMSTR prices had declined, its monthly active addresses soared.
According to Cryptoquant, Hamster Kombat Surpassed 100 Million Monthly Active Users, Launching HMSTR Token on The Open Network (TON).
As such, the first block had 4.3% of transactions interacting with the Hamster Kombat contract address.
Impact on price charts?
According to AMBCrypto’s analysis, HMSTR failed to meet market expectations.
Since the launch, the altcoin has seen a surge in negative market sentiment. Therefore, the current market conditions could set HMSTR for further decline.
For example, the total liquidation surged over the past 24 hours. According to Coinglass, total liquidation reached $5.1 million.
During this period, liquidation for short positions was $2.5 million and $2.6 million for long positions. This shows that the market was bearish, with long position holders lacking confidence in the altcoin’s direction.
Additionally, HMSTR’s Relative Strength Index (RSI) stood at 26 with an RSI-based Moving Average(MA) of 36.17.
This suggested that the alt was oversold. Thus, the selling pressure was higher than the buying pressure, with the sellers dominating the market.
Simply put, HMSTR was experiencing a strong downtrend. If the current market conditions persist, the price will further decline to $0.005.
However, a correction will see it push above $0.010.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Former Montenegrin Justice Minister Alleges Do Kwon Extradition Was Tied to Airport Deal with South Korea
- Sep 28, 2024 at 10:45 am
- The former Montenegrin Justice Minister, Andrej Milovic, said there is a possible connection between the extradition of Terraform Labs co-founder Do Kwon
-
- Circle's USDC Dominates Stablecoin Inflows Amid Rising DeFi Activity
- Sep 28, 2024 at 10:30 am
- Bitcoin price (BTC) could rise to $70K, according to recent insights. On September 27, 2024, Thielen highlighted the growing influence of Circle's USDC in the stablecoin market.
-
- Floki Inu vs Bitgert, The Ultimate Winner!
- Sep 28, 2024 at 10:30 am
- As the rally is about to begin, investors' attention is concentrated on finding the ideal project to diversify portfolios to leverage huge gains
-
- Bitcoin (BTC) Price Analysis for September 28: BTC Rose Above $66,000, Indicating That the Northward March Toward $70,000 Has Started
- Sep 28, 2024 at 10:25 am
- Bitcoin (BTC) price analysis for September 28, 2023: BTC rose above $66,000, indicating that the northward march toward $70,000 has started
-
- BNB (BNB) Surges 25.7% in Three Weeks, But Can It Reclaim Its ATH of $724?
- Sep 28, 2024 at 10:25 am
- BNB (BNB), the native token of BNB Chain, surged to $614 on Sept. 27, marking a 25.7% gain over three weeks. This is the first time BNB has closed above this level since June 2024.
-
- Mango Markets Hit With SEC Charges: DAO, Foundation, and Labs to Pay $700K in Penalties
- Sep 28, 2024 at 10:25 am
- The U.S. Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for offering unregistered securities.
-
- Bonk (BONK) Faces Resistance Barrier in Path to Major Rally
- Sep 28, 2024 at 10:25 am
- In the latest weekly market cycle, Bonk [BONK] has impressively surged by 23.3%. If this steady growth continues, the coin is likely to experience
-
- ETFSwap (ETFS) Sets Strong Foundations For A 100X Rally
- Sep 28, 2024 at 10:25 am
- ETFSwap (ETFS) has established itself as a reckoning force in the decentralized finance (DeFi) market. This latest DeFi platform transform is set to witness a major rally that could trigger a 100X surge for its native token, ETFS.
-
- This Washington Error Coin Recently Sold Online for a Small Fortune—and You Might Just Have One Lying Around
- Sep 28, 2024 at 10:25 am
- It's widely known that rare coins can fetch impressive sums of money, especially when they feature unique errors, discussions, or other distinctive characteristics.