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In a quirky twist of events, the crypto world has found an unexpected darling hamster racing! This adorable phenomenon has taken the crypto community by storm, with enthusiasts placing bets on cuddly rodents racing through digital tracks. The frenzy surrounding this novel concept has led to the rise of a 24-hour fadcoin and a livestreamed betting platform.

HamstersGG, a betting platform with a twist, came to life on July 11, 2023. Operating through Twitch, the platform allows users to wager using BUSD, further fusing the worlds of decentralized finance (DeFi) and adorable rodent racing. While Ethereum and Binance Smart Chain deposits were accepted, payouts appeared to rely primarily on BSC.

At the heart of this unique spectacle lies the HAMS token, offering a tantalizing blend of stablecoin bets for individual races and revenue-sharing opportunities. HamstersGGs white paper declared that the platform takes a 5% rake of all bets. Then it distributes 4% of it to token holders. This dynamic has given rise to a volatile market on Uniswap, adding another layer of intrigue to the hamster racing phenomenon.

Since its launch, HAMS has experienced a whirlwind of market activity according to Blockworks. With a Uniswap v2 pool boasting just under $100,000 in WETH liquidity, the tokens trading volume reached an impressive $900,000 on its debut day. The tokens value skyrocketed to $.38 cents, only to dip as low as $0.08 before bouncing back to $.38 once more, leaving traders on a thrilling rollercoaster ride.

As the popularity of hamster racing soared, so did speculations regarding its authenticity. Some Twitter users questioned the legitimacy of the races, claiming they were staged and videos were looped. The platforms response was swift, attributing server crashes to the unexpected surge in interest for these furry athletes. Amidst technical glitches and delayed races, concerns about potential scams arose.

As the day unfolded, viewership on the Twitch livestream wavered, dipping below 600 when races failed to commence. Users in the live chat room voiced complaints about withdrawal issues following the conclusion of an earlier race. While some chalked it up to FUD, others couldnt shake the feeling that something might be amiss.

Despite the allure of hamster racing and its endearing charm, the crypto community is left wondering whether this novel venture will stand the test of time. As enthusiasts weigh the risks and rewards of placing bets on cuddly critters, the future of HamstersGG and its HAMS token remains uncertain. Only time will tell if these furry athletes are here to stay or if theyll scamper away into obscurity.

Hamster racing has undeniably captured the imagination of the crypto world, offering a peculiar blend of wholesomeness and DeFi degeneracy. With the HAMS token stirring up the market due to volatility, and concerns surrounding the authenticity of races, the future of this furry phenomenon hangs in the balance. As the crypto community keeps a close eye on the adorable racers and their quirky platform, one thing is certain the world of crypto has never been more whimsical.

Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeits dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager of a consultancy firm.

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Unraveling the Craze: The Furry Spectacle of Hamster Racing in the ... - Blockzeit