TapSwap Ready to Launch Airdrop, TAPS Token Price at Risk of Dropping

Bittime - TapSwap is preparing to launch the TAPS airdrop. It will allow its users to convert their tokens into fiat currency in August or September. 

However, even though this moment is eagerly awaited, there is a risk that the TAPS token price could face a decline along with the launch of the airdrop. Read more in this article!

TapSwap Airdrop Is Getting Closer

Reporting from iNvezz, TapSwap confirmed that they are working to launch this airdrop in the third quarter of this year. With the first month of this quarter already behind us, it is likely that this airdrop will occur in August or September. 

The developer also announced a series of measures that will allow users to increase their TAPS allocation amount. Like other tap-to-earn platforms, users will earn more tokens as they increase the number of “taps” they make.

Read also: TapSwap Cinema Code Answers 12 August 2024: Latest Codes & Tips

Apart from that, there are several other activities that can increase the number of user tokens. These include participating on social media, increasing the frequency of visits to games, completing certain tasks, and taking advantage of paid features. 

Apart from that, there is also a new feature called Tappy Town. Tappy Town is a new feature that allows users to create virtual cities.

The developers are also working on the tokenomics of the network and are in negotiations with several leading layer-2 exchanges to list the token. Some exchanges that are likely to list TapSwap include OKEx, Binance, and ByBit.

Tapswap, One of the Games Tap-to-Earn Terpopuler

TapSwap is a big player in the emerging tap-to-earn industry. This game is supported by the popularity of Telegram, one of the fastest growing social media networks and has more than 900 million users. 

The tap-to-earn platform allows users to earn tokens with the press of a button, which they can then exchange for fiat currency on exchanges.

Apart from "tapping", users can also maximize their tokens by sharing the application with their friends. Users can also subscribe to the YouTube channel, and follow TapSwap's social media accounts on Telegram and Twitter (X). 

This incentive explains why tap-to-earn networks are so popular on social media. For example, TapSwap's YouTube channel has more than 4 million subscribers, while its platforms on X and Telegram also have millions of followers. 

Hamster Kombat, the biggest player in the tap-to-earn industry, even has the fastest growing YouTube channel in the industry.

Most tap-to-earn networks choose to use the TON Blockchain, which was launched by the creators of Telegram. This blockchain is known for its high speed and much lower fees than Ethereum.

Potential Tapswap Risks Ahead

However, TapSwap and other tap-to-earn platforms face significant challenges. Data shows that user participation tends to decline sharply after the airdrop takes place. 

Additionally, most token holders usually immediately sell their tokens and cash out.

This partly explains why networks like TapSwap and Hamster Kombat tend to delay listing on exchanges. By remaining private longer, developers can make more money through paid features and video views on YouTube. 

With their videos reaching millions of views, these companies can reap huge profits, although this figure is expected to drop drastically after listing.

Read also: TapSwap: Viral Crypto Game, Interesting, But What's the Future?

The majority of Tap-to-Earn Tokens Have Underperformed

Another challenge is that most of the tap-to-earn tokens that are already publicly traded are not performing well due to declining demand. 

For example, the price of Notcoin fell to $0.011 on Monday, down more than 62% from its highest point this year. Notcoin's market cap also fell to $1.13 billion, from a record high of more than $2.5 billion—a big drop for one of the biggest players in the tap-to-earn industry.

Something similar happened to Pixelverse, where its PIXFI token fell by almost 90% from its listing price. Its market capitalization is now only about $25 million. Earlier this month, the AvaCoin (AVCN) token was also listed and immediately experienced a sharp decline.

Although most crypto assets also experienced a decline in this period, these tokens fell more sharply due to lack of demand and massive selling by token holders.

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You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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