The news that the Telegram-based Tap-to-Earn (T2E) video game Hamster Kombat is being developed into a Layer-2 solution could be the breakthrough that Toncoin (TON) needs.
Analysts and market watchers speculate that the coin could reach $10. At the time of writing, TON was trading at $5.81, up 1.85% in the last 24 hours.
Hamster Kombat L2 Hype has 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. Namely, Hamster Kombat DAO was integrated a few days ago.
Hamster Kombat announced on his Telegram channel that the voting on the proposal has ended.
“..THERE WILL BE a Hamster L2 blockchain built on TON! We will serve our community, the largest web3 community in the world, with the technological foundation it has been looking for!” it is stated in the project.
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Judging by how much L2 is seen as a future increase in utility for the project, Hamster Kombat marks this as a big change.
Hamster Kombat hasn’t had a smooth ride since its controversial first season. Running this L2 scaling solution could help mend broken bridges.
It reflects a strategic step towards gaining momentum, especially as the community calls for improved performance, scalability and reliability. A major shift towards new L2 technology could help achieve most of these goals.
Toncoin withdrawal and potential benefit
TON has dropped significantly over the past few weeks. This is despite its milestone as a top ten coin ranked by market capitalization.
According to market data, its cap is currently fixed at $14.82 billion, making it the twelfth largest digital currency.
This valuation is now the 12th largest asset, a downgrade from the bearish turn for Telegram-based projects.
Meanwhile, experts believe a major upheaval is upon us. The launch of Hamster Kombat L2 could revive adoption within the Toncoin and Telegram ecosystems.
TON Ecosystem Token Outlook
Apart from TON, which maintains a relatively optimistic outlook, other tokens of the TON ecosystem are also responding positively to the L2 update.
The Hamster Kombat project’s native token, HMSTR, is currently up 2.19%, with a market cap of over $194 million. It is now trading at $0.003015, successfully turning the $0.003 mark as support.
Let’s recall that this coin reached an all-time low a few weeks ago.
About two months ago, the altcoin was trading at $0.00225, the lowest price it has seen since launch. HMSTR has seen a noticeable price recovery since then, but is still more than 70% away from its all-time high of $0.01004.
Catizen (CATI) is similarly up, trading 5.81% higher than its previous level 24 hours ago. The coin has a current market value of $0.3836.
Similarly, Notcoin (NOT) is up 2.84% to trade at $0.006471. This outlook is not surprising, given that Notcoin seemed poised for a breakthrough.
This breakthrough came after a long period of consolidation.
With Hamster Kombat DAO and L2 Quest, Telegram’s Touch 2 earning ecosystem could get a new lease of life
