Bybit, the second-largest crypto exchange by market share has announced its listing of Hamster Kombat, a trending Telegram-based crypto project on its platform for pre-market trading.
Bybit in doing this deepens its support for new crypto projects, especially those associated with Telegram's Open Network (TON).
Bybit on July 8 officially announced its move to list Hamster Kombat tokens (HMSTR) on its over-the-counter (OTC) giving room for pre-market trading of the token.
The OTC platform enables investors and crypto enthusiasts to trade new tokens before their official listing allowing them to run trades at convenient prices.
Bybit's official announcement indicated that Bybit's pre-market OTC platform officially launched trading for Hamster Tokens on July 8th effective immediately after the announcement.
Bybit in its announcement explained its motive behind the move stressing that the development represents a significant step forward.
"The inclusion of HMSTR tokens on our Pre-Market platform represents a significant step forward, providing users with the chance to get their hands on HMSTR tokens before they become listed for Spot trading. This exclusive access allows users to secure HMSTR tokens ahead of the market and to lock in their purchase/sale prices early, marking an innovative advancement in our trading offerings."
Bybit cleared the air on speculations surrounding the official listing price of Hamster tokens and the effect the Pre-market trading by Bybit might have on it.
"While pre-market trading may reflect market expectations, the official listing price itself may be influenced by other different factors," Bybit stated
"It is worth noting that both the pre-market price and the official listing price are ultimately determined by the market and there is not necessarily a direct correlation between the two," Bybit added
Data from the Bybit pre-market trading platform puts Hamster Token's pre-market trading price at a range of $0.001 and $0.1 at the time of writing.
Bybit explained that this Pre-market price and Hamster Token's official listing price are all determined by market forces and do not influence the outcome of each other.
What to Know
Hamster Kombat is a tap-to-earn crypto game powered by Telegram in which players take on the role of a CEO running a virtual cryptocurrency exchange. The project has been touted as the next Notcoin given its massive adoption and success.
Hamster app has over 150 million users according to its creator and is closely following the footsteps of Notcoin which was also listed on Bybit's pre-market trading.
Nairametrics earlier reported on the basics of mining Hamster Kombat tokens and how to earn money from it.
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