Notcoin (NOT) Price Pumps by 173% in a Week
Notcoin (NOT) Skyrockets 174.88% in One Week, Driving Speculation of $3 Billion Market Cap Amid Growing Popularity on Telegram’s Ton Blockchain.
Key Takeaways:
- Notcoin (NOT) surged from $0.00807 to $0.023848 between May 29th and June 4th, marking a 174.88% increase.
- Notcoin is an innovative tap-to-earn game built on the Ton blockchain. It is accessible through Telegram, meaning the project is well-ingrained into the crypto landscape.
- Investors speculate that NOT will soon hit a $3 billion market cap as word of the project spreads and more exchanges begin listing the token.
What Caused The NOT Price to Skyrocket
The project allocated zero budget to marketing. Despite this, there has been a lot of hype surrounding Notcoin since its launch on May 16th. While NOT initially struggled to gain traction, a Binance listing and massive demand for Telegram mini-apps caused excitement around Notcoin to grow.
Telegram-based tap-to-earn projects have become a recent trend in cryptocurrency. Notcoin lets people earn crypto rewards by tapping an icon to ‘mine crypto.' Despite its simple premise, the project exploded, gaining 35 million users in two weeks, making Notcoin one of the year's most hyped cryptos.
Users gifted Telegram Founder Pavel Durov around 1% of the Notcoin supply. Despite the position being worth $6.8 million, Durov said he would hold the coins until they were worth $680 million. In turn, investors became more resolved to hold NOT.
Notcoin launched on Binance Launchpool, where the project distributed just over 3 billion NOT tokens to participants. The launch required people to stake BNB and FDUSD to earn NOT tokens. Altogether, a total of $2.7 billion FDUSD and 18.1 million BNB was staked, indicating massive demand for NOT.
NOT is currently holding its support range of around $0.02263, building momentum for a push upward. Traders are likely targeting a Notcoin price of $0.0292, a critical psychological resistance level that would give the project a $3 billion market cap. With the asset regularly enjoying $2 to $3 billion daily trading volume, the token seems well-poised to push up as demand increases.
Telegram Users Are Earning Rewards
Notcoin (NOT) is a Ton blockchain-based play-to-earn crypto project accessible via a Telegram bot. The viral Notcoin project incentivizes people to tap on an icon in their Telegram app to earn crypto rewards. The Notcoin team plans to create a broader ecosystem containing various projects and games in the future.
Notcoin is the largest TON-based asset, boasting a market cap of $2.4 billion. The total supply of NOT tokens is 102,719,221,714, of which 80,219,221,714 have been distributed to miners/investors. The Notcoin team has reserved a further 22,500,000,000 NOT for new users.
Read More: Toncoin (TON) Hits 600,000 Active Users.
What's Ahead For Notcoin?
It can be challenging to predict the future success of any crypto project, let alone one in a newly emerging market. The price of Notcoin will be driven by its success as a tap-to-earn project. However, demand for Telegram mini-apps and speculation surrounding TON-bassed projects will also drive demand.
Notcoin has stated that it will not direct any funds to marketing efforts. Therefore, the project solely relies on word-of-mouth and exchange listings to generate hype. As such, TON will likely perform well if it can work out a few strategic partnerships or high-profile exchange listings.
Jay Leonard
Jay has been providing commentary on the cryptocurrency market and offering readers guidance for over three years. While primarily focused on fundamental analysis and what institutional adoption means for the industry, Jay also has experience with technical analysis, actively trading and investing in a wide range of assets.
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