The Catizen token price rose in a low-volume environment after being listed in the pre-market section of Bitget.
The Catizen (CATI) price rose to a high of $0.77, significantly higher than the listing level of $0.30. Since launching, its total volume has stood at over $170,000.
Catizen token price is rising
Bitget’s pre-market listing is an innovative product that lets users buy tokens before they are launched officially through an airdrop.
Catizen has become one of the biggest players in the Telegram gaming industry, with over 26 million active users worldwide. It has 1.7 million daily active users and has handled over 20 million on-chain transactions.
It is a mini-app that combines concepts of gaming, artificial intelligence, and the metaverse. Users interact with it in Telegram, a fast-growing social media platform with over 900 million users globally.
By leveraging Telegram’s application, Catizen is easier to use than traditional gaming platforms like Axie Infinity (AXS), Decentraland (MANA), and Gala Games (GALA). It also does not require downloading or long user registrations.
Catizen’s users accumulate the CATI token by playing the game and performing simple tasks like following its social media accounts, checking in daily, and inviting friends.
The mini-app has grown so fast that, according to its founder, it has already made $16 million from in-app purchases. On its platform, users can purchase a set of stars to increase their chances of winning. Because of this growth, Catizen received an investment from Binance Labs.
Telegram gaming apps are booming
Catizen is one of the many Telegram apps that are seeing significant traction among users. The other popular games in the ecosystem are Gamee, which has 9.5 million users, followed by Cat Gold Miner (6.3 million), The Pixels (5.2 million), BIRD (2.2 million), and Truecoin (1.6 million).
Telegram also houses over 70 tap-to-earn platforms, such as Hamster Kombat, TapSwap, Notcoin, PixelTap by PixelVerse, and Blum. In less than two months, Hamster Kombat has added over 240 million users, while its YouTube channel has gained over 34 million subscribers.
Notcoin (NOT) and PixelVerse are the first two platforms to launch their airdrops. Notcoin’s market cap is over $1.5 billion, while Pixelverse (PIXFI) is valued at $175 million.
Therefore, using these metrics, and since Catizen has over 24 million users and is making money, there is a chance that it will hit a market cap of over $1 billion. Besides, play-to-earn cryptocurrencies like Decentraland, Sandbox, and Axie Infinity are valued at over $700 million despite their slowed user growth.
