Cryptocurrency exchange Bybit has sparked debate by listing Hamster Kombat’s (HMSTR) token for pre-market trading on its platform, drawing significant attention from the crypto community. Bybit announced the listing of the HMSTR token on its over-the-counter (OTC) platform, Bybit Pre-Market Trading, on July 8. This platform enables users to trade new tokens before their official listing, allowing buyers and sellers to set quotes and execute trades at predetermined prices.
The pre-market trading for HMSTR began on July 8, 2024, at 10:00 am UTC. Bybit emphasized that this move provides users with an exclusive opportunity to acquire HMSTR tokens before their official spot trading. The exchange stated, “This exclusive access allows users to secure HMSTR tokens ahead of the market, locking in purchase or sale prices early, marking an innovative advancement in our trading offerings.”
Despite the excitement, the exact date for HMSTR’s spot trading remains unknown. Bybit acknowledged the speculative nature of pre-market trading, noting, “While pre-market trading may reflect market expectations, the official listing price itself may be influenced by other different factors.” The pre-market price of HMSTR has fluctuated between $0.001 and $0.1, quoted in Tether.
Hamster Kombat, a tap-to-earn game on Telegram, has gained massive popularity since its launch in March 2024, becoming the third-fastest app to reach 150 million users. The game allows players to act as CEOs running virtual cryptocurrency exchanges.
The success of Hamster Kombat has drawn comparisons to another Telegram-based game, Notcoin (NOT). Before its spot trading debut, Notcoin was also listed on Bybit Pre-Market Trading. Notcoin’s pre-market price was $0.0059, and it surged to $0.2 after its spot trading debut, though it has since settled at $0.01691.
Bybit’s decision to list HMSTR for pre-market trading is viewed as both a strategic move to offer early access and a potential risk for market manipulation. The crypto community is watching closely to see if this strategy will be successful or if it will lead to unintended consequences. The true impact of this pre-market listing on HMSTR’s official spot trading price remains to be seen.
Get exclusive insider access to daily market intel reports across web3 –lifetime NFT access.