The news that the Telegram-based Tap-to-Earn (T2E) video game Hamster Kombat is evolving into a Layer-2 solution may be the breakthrough that Toncoin (TON) needs.
Analysts and market observers are speculating that the coin could reach $10. At the time of writing, TON price was trading at $5.81, up 1.85% in the last 24 hours.
Hamster Kombat L2 Hype Hit the Crypto Industry
Hamster Kombat is working on launching its L2 scaling solution on the TON blockchain.
The team decided on this move after the Hamster Decentralized Autonomous Organization (DAO), voted in favor of the proposal. Notably, the Hamster Kombat DAO was integrated a few days ago.
On its Telegram channel, Hamster Kombat announced that the vote on the proposal has ended.
“..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 project stated.
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Judging by how much L2 is considered the future utility boost for the project, Hamster Kombat marks this as a major shift.
Hamster Kombat has not had a smooth sail since its controversial Season 1 airdrop. Launching this L2 scaling solution might help it repair broken bridges.
It reflects a strategic step towards gaining momentum, especially as the community calls for improved performance, scalability, and reliability. A major pivot to a new L2 tech might help it achieve most of these goals.
Toncoin Drawdown and Potential Benefit
TON has declined significantly over the past few weeks. This is despite its milestone as a top ten coin ranked per market cap.
According to market data, its cap is currently pegged at $14.82 billion, making it the twelfth-largest digital currency.
This valuation is now the 12th largest asset, a demotion from the bearish turn for Telegram-based projects.
Meanwhile, experts believe a major turnaround is up ahead. The launch of Hamster Kombat L2 may revive adoption within the Toncoin and Telegram ecosystem.
Outlook of TON Ecosystem Tokens
Beyond TON, which maintains a relatively bullish outlook, other TON ecosystem tokens also react positively to the L2 update.
The native token of the Hamster Kombat project, HMSTR, is currently up 2.19%, with a market capitalization of over $194 million. It is now trading at $0.003015, successfully flipping the $0.003 mark as support.
Recall that this coin hit an all-time low a few weeks back.
About two months ago, the altcoin traded at $0.00225, the lowest it had registered since launch. HMSTR has seen notable price recovery since then, but it is still more than 70% away from its all-time high of $0.01004.
Catizen (CATI) is equally soaring, trading 5.81% higher than its previous level 24 hours ago. The coin has a current market value of $0.3836.
Similarly, Notcoin (NOT) has hit a 2.84% increase and is trading for $0.006471. This outlook is hardly surprising, considering that Notcoin appeared ready for a breakout.
This breakout stunt came after a long period of consolidation.
With Hamster Kombat DAO and L2 pursuit, the Telegram tap-2-earn ecosystem might get a new leave of life
