Hamster Kombat Token Plunges to Record Low Amid Market Sell-off
Hamster Kombat’s HMSTR token hit a new low on Thursday. this marks the end of an era for one of the biggest players in the tap-to-earn world.
HMSTR fell to $0.0010, dropping 89% since last year.Its market value shrank from $437 million in September to just $67 million now. Many token holders seem to have sold off, pushing the token to this low point.
Nansen data reveals that HMSTR’s exchange balances went up by 13% in the last 30 days,reaching over 17.86 billion. This jump suggests more people are moving their tokens to sell on centralized platforms.
On-chain numbers show the total number of HMSTR holders reduced from over 300 million at its peak to just 672,200 today. Most users left as the token value fell and engagement on its mini app dwindled.
- Futures open interest for HMSTR fell to $30 million on Thursday, down from $60 million this month.
- Its funding rate, now at a record low of minus 0.06%,suggests traders expect the token to fall further.
Hamster Kombat’s drop is part of a larger trend. Other tap-to-earn tokens like Notcoin (NOT) also plunged after a similar event.
Technical analysis shows HMSTR’s price formation isn’t promising. It’s likely to continue falling, with the next key level at $0.00095. For more details, check the HMSTR price chart.
