Telegram Game Catizen launches CATI Token into Binance Trouble

The popular Telegram tap-to-earn game Catizen has officially launched its hotly anticipated token, CATI. Trading for CATI has gone live, and around 15% of the total supply has been airdropped to users as part of its Season 1 distribution.

Catizen has airdropped 150 million CATI tokens to eligible users, for a total supply of 1 billion. The token launch follows a two-month delay to the initial planned release schedule.

Catizen Still Has 190 Million Tokens Set Aside For Future Airdrops

The TON blockchain-based tap-to-earn project went live with CATI on Friday morning (September 20). It is listed on multiple centralized exchanges, including Binance, Bybit, and Bitget. The team announced deposit registrations for CATI to non-custodial wallets opened on Thursday.

The airdrop tokens were distributed to eligible users today based on their game activity. This is part of a larger allocation of 340 million CATI tokens dedicated to airdrops. According to the team, the remaining 190 million CATI will be used for quarterly airdrop campaigns.

Binance Listing Postponed As CATI Goes Live On Other Major Exchanges

Binance postponed Listing by 1 hour.
While $CATI is already trading at $0.93 on Bybit pic.twitter.com/NInWaLM6Tr

— Maine || CLONE (@Maine14277) September 20, 2024

Regarding the Binance listing, the exchange released an announcement to say that it has delayed the listing of CATI by 1 hour. It was originally due to go live at 10am UTC but has been pushed back to 11am UTC.

The airdrop process for Catizen began on September 14, whereby token allocations were revealed to the player base. Users could claim and stake CATI tokens on selected centralized exchanges before today’s token generation event (TGE).

DISCOVER: The Next 1,000x Cryptocurrency In September 2024

Many Catizen Players Disgruntled With Airdrop Allocations

Interesting thing about Catizen is that they are not short-term play, what they do is actually building an ecosystem that will be sustainable & rewarding for its users over the course of many years.

But I saw all your thought & frustrations!
And one thing is – I understand you!… pic.twitter.com/f1zRVUFRxG

— Viktor 🐯🧡 (@s0meone_u_know) September 19, 2024

Many members of the Catizen community were underwhelmed regarding their token allocations. The team had originally allocated more of the supply to the airdrop campaign. However, the allocation was reduced at the last minute, with 9% of the token supply diverted toward the Binance Launchpool instead.

Pluto Studio, the team behind Catizen, claims to have more than 39 million total users and 18 million monthly users. Telegram CEO Pavel Durov took to his messaging app in July to praise the success of Catizen. “Catizen is a mini-game on Telegram with over 26 million players. The game has already earned $16 million from in-app purchases and donated 1% of it to rescue stray cats,” he said.

Since launching a few hours ago, CATI has been ranging between $0.89 and $0.93 as it pushes toward $1, per CoinGecko. When writing this article, CATI is due to go live on Binance in less than 30 minutes. The volume spike from Binance may be the catalyst to carry it over $1 and beyond.

CATI is already trading above $0.9 on many major exchanges as Binance delays its listing of the Tap-To-Earn game token by 1 hour

(COINGECKO)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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