Catizen’s Successful Airdrop and Market Debut ✨
Recently, Catizen, an engaging mini-game within the Telegram ecosystem, completed the distribution of its crypto airdrop. The launch of its governance token, CATI, on major centralized exchanges has drawn significant interest from traders.
At its launch, the project’s estimated value stood around $950 million, potentially instigating another surge of excitement surrounding free airdrops. Below, you’ll find detailed insights about this promising venture.
The Catizen Game: Connecting Telegram and the Crypto Community 🎮
The virtual feline-themed game Catizen has officially integrated itself into the realm of cryptocurrency following the successful distribution of the CATI token airdrop to its users.
Developed by Pluto Studio and launched in March 2024, the Telegram-based project pledged rewards for its users from the very beginning. In July, Catizen received noteworthy funding from Binance Labs, the venture division of the well-known crypto exchange.
This financial backing has allowed developers to improve user onboarding and enhance the game’s scalability and appeal. The goal was to create an efficient gaming engine capable of handling the robust demand for such games on Telegram.
With nearly seven months since its inception, the launch of the crypto airdrop has led Catizen to remarkable achievements.
More than 3.1 million on-chain players participated in collecting coins and virtual kittens, while the project boasts around 2.9 million followers on X. Over 4 million individuals interact with the Telegram bot daily, showing a strong foundation of user activity.
Since its launch, there have been approximately 39.5 million on-chain transactions recorded on the TON network for various in-game activities. Catizen now stands poised to write a new chapter in the cryptocurrency gaming scene.
CATI Token’s Launch on Leading Crypto Exchanges 💹
The Catizen airdrop formally wrapped up yesterday with CATI being listed on all major crypto platforms. Notable exchanges including Binance, Bybit, OKX, Bitget, Gate.io, MEXC, and KuCoin have all commenced trading of the new token.
During its initial two hours of trading, the market volume soared past $300 million, reflecting substantial speculative interest. The token launched at an initial price of approximately $0.95, often surpassing $1 upon listing, and even hitting $1.45 on exchanges like KuCoin for brief moments.
This successful entry into the market resulted in a fully diluted valuation of about $950 million, with a circulating market cap starting at around $285 million. Such figures are notably high, especially for a Telegram game centered on virtual kittens.
Participants eligible for the airdrop had previously enhanced their Catizen accounts, and they were able to claim airdrop tokens shortly before the market launch. The game offered them the choice of claiming tokens on-chain or directly from selected exchanges, allowing for immediate selling options.
Despite these facilities, CATI demonstrated strong price stability during the initial trading hours. The listing prices exceeded pre-market expectations, which had predicted figures below $0.50.
Congratulations to Catizen for this achievement, and commendations to the early adopters who are reaping immediate rewards.
The Surge of Free Airdrops on Telegram 🚀
The initial success of Catizen’s crypto airdrop may encourage other projects to allocate a portion of their tokens for community distribution. This trend had initially gained momentum a few months after the launch of Notcoin on Telegram, wherein the team opted to distribute tokens freely to millions of users.
Subsequent initiatives have emerged, planning to dedicate substantial quantities of their crypto assets for their gaming community members. Projects such as Hamster Kombat, DejenDog, and Catizen have carved out a path distinct from less successful recent airdrops.
Over time, the crypto community’s attention has shifted towards airdrop programs beneficial to the collective rather than individual investors or teams. The “High FDV & Low Float” approach has yielded negative outcomes in 2024, resulting in declining token prices in a market downturn.
In contrast, investors have shown preference for memecoins that offer a complete supply unlocking upon listing and airdrops directed entirely towards users.
Considering these patterns and the strong debut of Catizen, it’s plausible that we may observe additional free airdrop initiatives leading up to the end of this year.
While extraordinary gains may not be anticipated from such initiatives, they still present an avenue for enhancing liquidity with minimal effort.
Not long ago, a protocol akin to Notcoin launched on Telegram, introducing a new token associated with the Solana blockchain. This project, termed Human Protocol, employs a referral mechanism that rewards users who invite and verify genuine participants within the network.
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