Catizen’s token experienced a significant surge on Friday, Sept. 20, as the cryptocurrency rally gained momentum, driven by the launch of CATI farming by STON.fi.

Catizen (CATI) Hits Record High

Catizen (CATI) soared to a new peak of $1.1265, marking a 260% increase from its lowest point this month. This impressive rally has elevated its market capitalization to over $216 million.

Trading Volume Highlights

The majority of Catizen’s trading volume is occurring on major exchanges, including Binance, Bybit, Bitget, and OKX. These platforms reported 24-hour volumes of $267 million, $50 million, and $49 million, respectively.

Key Drivers Behind Catizen’s Surge

The primary catalyst for Catizen’s recent surge was the introduction of CATI farming by STON.fi, a prominent decentralized exchange on the TON Blockchain. As part of this launch, STON.fi offered 20,000 STON rewards, valued at approximately $86,000, to participants.

These rewards will be distributed equally between the CATI/TON and CATI/USD pairs, with the farming period running until Oct. 4. Historically, cryptocurrencies tend to rally following the commencement of farming and listings on major exchanges.

CATI Farming Rewards

Participants can now engage in CATI farming, not just for trading and liquidity provision but also to earn rewards. The reward pool features an impressive 20,000 STON, equivalent to $86,000.

Additional Exchange Listings

Catizen was also introduced in Bitget’s PoolX, where users who lock their tokens stand a chance to win 53,000 TON, valued at approximately $300,000. Additionally, CATI gained traction after being listed by Crypto.com, a leading cryptocurrency exchange. It is now available on other exchanges like OKX, Gate.io, and WhiteBIT.

About Catizen

For those new to Catizen, it is one of the most popular gaming mini-applications on Telegram, boasting over 30 million users. Participants earn tokens by collecting ‘cats’ and completing simple tasks such as following Catizen’s social media accounts.

Comparative Performance

Catizen’s performance has outshone other Telegram tokens like Notcoin and Pixelverse, which have seen sharp declines post-airdrop. The upcoming Telegram tap-to-earn airdrop to watch is Hamster Kombat, which has accumulated over 300 million users. However, its pre-market futures have dropped by over 95% in the past 30 days, according to OKX.

Catizen’s biggest challenge moving forward will be maintaining the vibrance of its ecosystem now that the token has started trading. Historically, play-to-earn networks like Decentraland and Axie Infinity have faced difficulties sustaining the initial excitement.

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