Notcoin Price Drops By 52%, Hamster Kombat Breaks Two Records

The competition in the tap-to-earn crypto project space has intensified, causing Notcoin to struggle. At the beginning of the week, Notcoin's trading value was at $0.014, marking a decline of more than 52% from its peak earlier in the year. 

This decline can be attributed to the increasing rivalry in the tap-to-earn crypto project category, with new players such as Hamster Kombat, Tapswap, Blum, and Dotcoin entering the market and attracting millions of users.

Notcoin investors are worried as the project faces tough competition from other new entries in its category that are performing well in terms of metrics. 

Meanwhile, Hamster Kombat, another tap-to-earn project, is gaining momentum by reaching two significant milestones and intensifying the competition in the Tap to Earn category.

Hamster Kombat has achieved the milestone of becoming the first tap-to-earn crypto project to reach 200 million users globally. 

Additionally, its YouTube channel has surpassed 31 million subscribers and its videos have been viewed over 569 million times. 

These achievements have made Hamster Kombat the fastest-growing YouTube channel since its creation on May 24, this year. 

Furthermore, Hamster's Telegram channel has over 48.7 million subscribers and its X page has garnered over 11 million followers, surpassing other major players in the crypto industry such as Solana and Ethereum. 

In the Tap to Earn category, other projects like TapSwap have also seen substantial growth, with over 60 million users and 6.4 million X followers, surpassing Notcoin's user base of 40 million. The success of these new entries in the tap-to-earn category explains Notcoin's loss of momentum despite being one of the early players in this category.

Notcoin's trading volume has also seen a significant drop along with its price value. 

According to verified data from CoinGecko, Notcoin's latest 24-hour volume was over $312 million, a sharp decline from the previous average volume of over $1.4 billion. 

Coinglass data also reflects a decrease in interest in Notcoin, with open interest dropping from over $282 million on June 7th to $159 million.

Overall, Notcoin's performance has been underwhelming amidst the growing success of other projects in the same category.