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Hamster Kombat Airdrop Faces Uncertainty Due to Internal Conflict

Published

3 months ago

August 19, 2024

Coin2049 Newsletter

Local Russian media reports revealed that the tap-to-earn project Hamster Kombat is experiencing internal conflicts that could lead to serious consequences.

Internal tensions within the Hamster Kombat team have sparked concerns about the project’s future, including the possible delay or even cancellation of the HMSTR token airdrop and listing.

What’s Going on with Hamster Kombat

Local media outlet Lenta.ru recently reported internal conflicts within the Hamster Kombat team over a dispute with investor AD.RU. The article claimed that the creators of the popular Telegram game allegedly refused to share profits, despite AD.RU’s involvement in financing and developing key mechanics for the project.

The article was removed a day later, leaving the reasons unclear. Anton Gorshkov, CEO of AD.RU, stated that the firm played a key role in the game’s development, following a 2020 collaboration proposal from Eduard Gurinovich for a mobile gaming and esports platform called Arenum.

In response to Gurinovich’s proposal, IT Holding invested $600,000 in the project, acquiring an 18.6% stake. AD.RU’s marketing support helped secure over $1 million in additional investments, increasing their share to 25%.

Gorshkov highlighted that AD.RU financed the project and played a role in developing the game mechanics later used in Hamster Kombat. Despite these contributions, the investor did not receive any profits, with the Hamster Kombat team allegedly offering empty promises.

In June 2024, Gurinovich refuted the claims, stating that AD.RU had no role in developing Hamster Kombat. In response, AD.RU submitted a technical report showing that Hamster Kombat’s servers share the same hosting as Arenum. Additionally, the domain hamsterkombat.io was registered using the corporate email [email protected], associated with the company’s co-founder Alexander Pasechnik.

These details form the basis of AD.RU’s claims. Gorshkov mentioned that he has already sent a pre-trial claim to Gurinovich, hinting at more challenges ahead for the Hamster Kombat project.

The Сonflict Is Heating Up

The conflict surrounding Hamster Kombat escalated after marketing director Nikita Anufriev left the project in August. Anufriev claims he was promised 25% of the company’s revenue or shares, which never materialized.

He states that he played a key role in promoting the game globally, securing strategic partnerships, including a $450,000 investment. Instead of sharing profits, the team chose to return funds to early investors, a move that caused discord among influencers and participants, further intensifying tensions within the project.

“Opinion leaders and project participants believe that without influencer support, the project wouldn’t have reached its current success. Instead of showing gratitude for a profitable business and millions in revenue from ad integrations, the founders chose to return investments to early backers. This decision was seen as an insult by influencers and key figures, leading them to publicly voice their dissatisfaction,” Anufriev shared.

Internal conflicts within the project could significantly impact players, with potential consequences including:

Airdrop Delays and Slowed Development. Legal and financial disputes might force the team to divert attention away from the HMSTR airdrop and overall project growth.
Server Stability and Game Availability. Ongoing disagreements could disrupt funding and lead to infrastructure issues, causing instability or even temporary outages.

The HMSTR airdrop was initially set for late July but was postponed indefinitely, with the developers citing the complexity of executing such an event.

BeInCrypto reached Eduard Gurinovich, the owner of the Hamster Kombat trademark in Russia, for comments. However, at the time of publication of this article, we have not yet received a response.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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XRP Price 25% Rally: Breaking Barriers and Surpassing Odds

Published

33 minutes ago

November 22, 2024

Coin2049 Newsletter

XRP price rallied above the $1.15 and $1.20 resistance levels. The price is up over 25% and might rise further above the $1.420 resistance.

XRP price started a fresh surge above the $1.20 resistance level.
The price is now trading above $1.250 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $1.1400 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is up over 25% and it seems like the bulls are not done yet.

XRP Price Eyes Steady Increase

XRP price formed a base above $1.050 and started a fresh increase. There was a move above the $1.150 and $1.20 resistance levels. It even pumped above the $1.25 level, beating Ethereum and Bitcoin in the past two sessions.

There was also a break above a key bearish trend line with resistance at $1.1400 on the hourly chart of the XRP/USD pair. A high was formed at $1.4161 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $1.0649 swing low to the $1.4161 high.

The price is now trading above $1.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.400 level. The first major resistance is near the $1.420 level. The next key resistance could be $1.450.

A clear move above the $1.450 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.550 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.750 or $1.80.

Are Dips Supported?

If XRP fails to clear the $1.420 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.3350 level. The next major support is near the $1.2850 level.

If there is a downside break and a close below the $1.2850 level, the price might continue to decline toward the $1.240 support or the 50% Fib retracement level of the upward move from the $1.0649 swing low to the $1.4161 high in the near term. The next major support sits near the $1.20 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $1.3350 and $1.2850.

Major Resistance Levels – $1.4000 and $1.4200.

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Market

WisdomTree Europe Launches XRP ETP

Published

2 hours ago

November 22, 2024

Coin2049 Newsletter

ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.

ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.

WisdomTree’s XRP ETP

WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.

“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.

The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.

WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.

The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.

XRP Price Spike — XRP Price Performance. Source: BeInCrypto

WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.

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Market

Rallies 10% and Targets More Upside

Published

3 hours ago

November 22, 2024

Coin2049 Newsletter

Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

Ethereum started a fresh increase above the $3,220 and $3,300 levels.
The price is trading above $3,250 and the 100-hourly Simple Moving Average.
There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385

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