Telegram Game Catizen (CATI) Surges 22% After Launch On Binance

Updated: 20 September 2024

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Telegram-based tap-to-earn game Catizen surged after launching on multiple centralized exchanges today, including Binance, Bybit, and Bitget.

The launch came after 150 million tokens were airdropped to users as part of the game’s Season 1 token distribution. The CATI price surged 22% to trade at $1.03 as of 11.34 a.m. EST with a market capitalization of $309 million.

Trading for The Open Network-based CATI went live at 6:00 a.m. EST today.

Some Users Upset With Reduced Airdrop Allocation

CATI’s Season 1 airdrop is 15% of CATI’s 1 billion supply, and is part of the 340 million tokens that have been set aside for distribution to eligible players. The remaining 190 million tokens are scheduled to be airdropped on a quarterly basis, according to the project’s team.

🪂Hey, Catizens!

Deposit Registration of 🪙 CATI to the on-chain non-custodial wallet is expected to be Open on Sep.19 10AM UTC.
After deposit registration, CATI will be distributed to your wallet after Sep.20 10AM UTC.

Please carefully check the wallet address and memo (if… pic.twitter.com/eqzsytbmnq

— Catizen (@CatizenAI) September 18, 2024

Some Catizen players were upset with their token allocations during the airdrop, since the team had initially allocated a larger percentage of the total supply. However, the team decided to reduce the number of tokens shortly before the distribution event and instead opted to divert 9% of the original amount to Binance Launchpool.

The team was also criticized for how some players’ eligibility weightings were calculated.

Catizen Outperforms Other TON Ecosystem Tokens After Binance Listing

Binance announced that it will activate simple earn, buy crypto, convert and margin trading products for CATI today,

Traders can also trade CATI against BTC, USDT and any other crypto tokens listed on Binance Convert at “zero fees.” From Sept. 23, users will be able to purchase CATI on Binance using any of the options supported by the platform’s auto-invest feature, according to the announcement.

CATI outperformed other tokens within the TON ecosystem today. Toncoin itself dropped more than 1%, while Notcoin registered a minor uptick over the same period. Players participate with the aim of earning tokens tied to these games on the TON blockchain.

Telegram has grown its presence in the crypto space in recent months, attracting millions of gamers who use the app to play tap-to-earn games such as Catizen, Hamster Kombat, and Notcoin.