Yescoin, the recently launched swipe-to-earn platform on Telegram, has continued to gain traction in the past few weeks.
This growth happened because of the popularity of Telegram’s play-to-earn applications like TapSwap, Notcoin, and Hamster Kombat, which became some of the fastest-growing platforms in the crypto industry.
Yescoin is growing
Notcoin, which had an airdrop recently, has attained a market cap of more than $1.5 billion, making it the 54th biggest cryptocurrency in the world at press time.
Similarly, TapSap now has over 53 million users and almost 20 million daily users, while Hamster Kombat has grown to more than 150 million users globally. The same is true with Yescoin, which has achieved over 18 million users within a month.
Yescoin, unlike its counterparts Notcoin and Hamster Kombat, operates uniquely. Instead of tapping, Yescoin’s mechanism is based on simple screen swaps, each representing a token.
In addition to swapping, one can make Yescoin by performing other simple tasks, such as connecting their wallets to the platform, joining their Telegram channel with over 7.2 million members, and visiting Binance.
Yescoin’s journey will be similar to that of other tap-to-win platforms. At some point, the developers will integrate with the fast-growing TON Blockchain and then have an airdrop where holders can claim their tokens.
After claiming the tokens, users will either hold them and benefit from the price jump or cash out. The market cap the token will achieve after being listed is impossible to predict.
How will the Yescoin token trade after the airdrop?
Post-listing, the Yescoin token is expected to follow a trading pattern similar to other cryptocurrencies. Drawing from the experience of Notcoin, it’s likely that the token will initially experience a dip as some users cash out, followed by a rebound.
This is a standard price action that occurs after a crypto project airdrops. For example, the zkSync (ZK) token initially crashed this week but bounced back on Wednesday.
History suggests that most play-to-earn tokens don’t do well over time since they tend to lose traction. For example, Decentraland’s MANA initially jumped to $5.9 during its peak and has now crashed to $0.3. It has struggled to retest its all-time high since then.
The same happened with Sandbox’s SAND, which soared to over $8.4 in 2021 and has now moved to $0.3247. On-chain data shows that the number of Decentraland and Sandbox users has crashed hard after peaking in 2021.
Therefore, it will be interesting to watch how the Yescoin price will perform after its airdrop and token listing.
