Catizen (CATI), Hamster Kombat (HMSTR) Drop Amid Market Uncertainty

Hamster Kombat (HMSTR) and Catizen (CATI) tokens have been experiencing significant price drops in the last few days. According to Coinmarketcap stats, CATI observed a 98.94% downfall from its historical high established last month.

The same scenario is visible to HMSTR token. The token has dropped by 55% after its launch reflecting larger turmoil in the gaming industry.

Catizen (CATI) Token Faces Significant Decline

Catizen, a Telegram-based decentralized gaming platform saw a significant decline in CATI price. CATI is trading at $0.447, reflecting a 7.79% price drop in the last 24 hours.

1-day CATI trading chart: Source – Coinmarketcap.

After it was added to the Binance Launch pool many anticipated that this move would push the $CATI price to new highs. Users were also able to swap CATI for digital assets.

In addition to that, CATI partnered with Bitget wallets where the wallets were 100% responsible for gas fees. All this was to allow users to claim tokens on the blockchain without having to pay any gas fees. Despite all this effort, CATI’s price is still bearish.

Hamster Kombat (HMSTR) Struggles After Token Launch

Since the introduction of Hamster Kombat’s HMSTR token, it has also experienced similar issues, declining by 55% from its all-time high of $0.01004.

1-day HMSTR trading chart: source – Coinmarketcap

HMSTR’s trading volume for the past 24 hours was $185,928,375, a decrease of 10.60% from the day before. The cryptocurrency has a market worth $289,584,353, but its price is still under pressure despite challenges.

CATI & HMSTR: Strategies to Stabilize and Attract Users

To sustain user engagement and stabilize the token price, Catizen and Hamster Kombat will implement several strategies. Catizen has already introduced a new system called Airdrop Pass.

This system will distribute CATI rewards quarterly to boost player activity. In response to sell-offs after the airdrop, Hamster Kombat is cracking down on cheaters and has banned 2.3 million players to restore equity.

Catizen has also introduced a 30% discount for the players, who will use CATI tokens to buy assets in the game. This incentive could lead to more spending within the confines of Catizen ecosystem which could afford a boost to the token’s value.

At the same time, Hamster Kombat is staking 11.25% of the tokens issued after season 1 and redeemed gradually over 10 months to double rewards for long-term storage.

However, both platforms are targeting users to combine Web2 and Web3 in the space. Per a recent press release, Catizen has over “26 million players and more than 1.6 million users actively participating on-chain.”

Hamster Kombat has attracted more than 300 million players since its launch. Catizen and Hamster Kombat are still under pressure to recover from the huge price slump attributed to volatile markets.