Hamster Kombat, the popular tap-to-earn game on Telegram, has announced plans to launch its own Layer-2 (L2) solution on The Open Network (TON) blockchain. Its recently formed decentralized autonomous organization (DAO) drives the strategic decision.
The development marks a pivotal moment for both Hamster Kombat and the broader TON ecosystem.
Road to the Hamster Kombat L2 announcement
Hamster Kombat became popular in 2024 due to the growth of Telegram’s mini-app system. This change increased Ton Network’s total value locked (TVL) from about $25 million to nearly $600 million in early 2024.
However, after its controversial Season 1 airdrop, HMSTR faced a setback. This led to a sharp drop in both user numbers and token value.
The decision by its DAO to launch its L2 solution is a response to these challenges with the hope of revitalizing the platform. It addresses scalability and performance issues while potentially boosting the value of its native token, HMSTR, and Toncoin (TON).
The team announced on its Telegram channel:
“There WILL BE Hamster L2 blockchain built on TON! We will be serving our community, the biggest web3 community in the world, with the technological foundation it asked for!”
The launch of the L2 solution is expected to significantly enhance the scalability and performance of the Hamster Kombat platform. This could lead to a wave of L2 adoptions and further strengthen the network’s capabilities.
What does this mean for the cryptocurrency market?
This development could drive Toncoin’s price upwards in the coming months. The increased activity and integration within the TON ecosystem could drive demand for both HMSTR and Toncoin.
Other tokens in the ecosystem could also positively respond to the announcement. For example, Catizen (CATI) and Notcoin (NOT) could see positive price increases, too.
The L2 could significantly enhance the scalability and performance of the Hamster Kombat platform. This could set a precedent for other TON projects, driving a wave of L2 adoptions and further strengthening the network’s capabilities.
TON price analysis
At the time of writing, the TON price is trading at $5.5489 at a market capitalization of $4.21 billion. The RSI of 35.89 indicates that the token is almost oversold but not quite there yet.
While it suggests some selling pressure, it is not at extreme levels. The RSI is also in line with the overall recent bearish trend of the cryptocurrency.
Traders should watch for potential bullish crossovers or convergence in the MACD, which could signal a trend reversal, especially when combined with the near-oversold RSI.
Current indicators suggest Ton (TON) may be undervalued, which presents a potential buying opportunity. However, traders should exercise caution as the downtrend may continue.
Traders could consider waiting for signals of a stronger reversal opportunity, like a bullish divergence between the price and RSI/MACD.
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