The crypto market’s doors have always remained open to animal-themed crypto assets. From Dogecoin’s inception to Pepe Coin’s launch, the market has seen a complete dog-to-frog cycle, with several new assets launched every now and then. The limelight has now shifted towards animal racing crypto assets.
According to data from CoinGecko, there is only one asset that has managed to cement a position for itself in the top 1000. HAMS, or Hamsters was valued at $1 at press time with a market cap of around $9.5 million. In fact, it was also the most liquid asset. Over $16.4 million worth of HAMS transactions have been settled over the past 24-hours. Other assets, right from Metaderby [DBY], to Snail Trail [SLIME], and ZED RUN [ZED], etc. were comparatively less in value. As tabulated, their volumes also remained arguably insignificant.
Unraveling the Hamster Hype
Real hamsters have been racing on the blockchain platform hamsters.gg. The official website clarified that the hamsters were real, and so were the bets. It added,
“The hamsters are running on a track and the first hamster to cross the finish line wins.”
While a few like ‘Rocky’ and ‘Buster’ have been able to deliver well performance-wise, others like ‘CK’ have not been able to leave an impression yet. A particular user recently brought to light that the aforementioned participant has lost 326 matches, and won only 8. Nevertheless, the community has been on a roll. A particular user tweeted,
“We like hamsters races.“
Animal racing has been successful in enticing people from the crypto space into its arena. CoinGecko Co-Founder and COO Bobby Ong recently tweeted that he bought “Hamster, Snail, Rabbit, Marble” over the weekend “to see who comes out ahead.” However, a few hours back he emptied his animal racing portfolio without registering any lofty return. Specifically, he tweeted,
“Sold off all my animal racing positions without any major gains to sleep well.”
On the development front, the Hamster team has a host of updates lined up for the near future. Through a recent tweet, they brought to light that developers are keen to make the project sustainable and scalable. In fact, they are also committed to building a “thriving ecosystem.”