The Blum crypto price futures have pulled back in the past few days as investors anticipate for the official token listing. The token was trading at $0.0052 on Tuesday, down by almost 20% from its highest point this year.
Blum is a top Telegram game
Blum has become one of the fastest-growing players in the crypto industry this year. Data shows that it has accumulated over 70 million users from around the world.
These users have signed up on its Telegram application and are earning tokens by doing simple tasks. For example, one can earn BLUM tokens by just logging in to the application each day.
Other tasks include following its social media networks like Telegram, Instagram, and X. Also, one gains tokens by connecting to the TON Blockchain wallet and subscribing to its educational materials like on Decentralized Finance (DeFi) and sharding.
Blum is also a tap-to-earn token that lets users make tokens by just tapping on the application. After making these tokens, one can start earning through its farming program.
Therefore, Blum has become highly popular among traders because of its ease of use, and the fact that it is available on Telegram, an application with almost 1 billion users.
Blum has not officially launched its crypto token, meaning that users cannot sell their accumulated tokens yet. However, Gate.io, one of the leading crypto exchanges, has launched pre-market futures, which allow people to trade it before its official launch.
These pre-market futures have become common as developers seek to generate hype for their tokens. For example, tokens like Hamster Kombat and Wormhole had these futures programs in companies like OKX.
Read more: Here’s Why Hamster Kombat Price Crash Matters for Pi Network
Is Blum a good token to buy?
Therefore, the question is whether Blum is a good cryptocurrency to buy. History shows that there are rising odds that the token will drop after launching its airdrop in the next few weeks.
Most Telegram tap-to-earn tokens have crashed sharply after their public debut. For example, Notcoin, the first such token to list, has dropped by over 70% from its all-time high, costing original investors over $1 billion.
Hamster Kombat, the biggest player in the industry, has fallen by over 73% from its all-time high, and the downtrend is continuing. Similarly, Catizen has fallen from $1.1230 in September to $0.043 today.
Other “to-earn” tokens have also not done well in the past. Some good examples of these are tokens like Sweat Economy and StepN, which were the leading players in the move-to-earn industry. Popular play-to-earn tokens like Decentraland, Sandbox, and Axie Infinity have plunged from their all-time highs, costing investors billions.
Therefore, there is a likelihood that the Blum crypto token will do the same after it launches its airdrop.
Read more: Toncoin Price Forms Rare Pattern Amid Weak On-Chain Metrics
