Markets
Notcoin records weekly gains of 335%, reaching top 50
Popular play to win Notcoin (NOT) token continues to attract investors with its impressive price performance.
With the overall crypto market remaining stable, the large rise in NOT has caught the attention of traders, showing strong buying interest.
Notcoin surpasses US$2 billion market value
The NOT token was officially launched on May 16th. After launch, it knocked down by more than 60%, falling from $0.012 to $0.0050.
However, over the past week, the token has staged an impressive rally, rising over 335% to reach an all-time high of $0.028. NOT’s market capitalization has grown to around $2.3 billion, bringing it closer to the top 50 cryptocurrencies. 24 hours volume of business rose to $4.3 billion, a 265% increase from the previous day.
The crypto community is actively discussing Notcoin dynamics. Prominent trader Crypto Steam suggested that the main triggers of the current rally were the launch of the staking function, token burning and actions by market makers.
“About 18 million $NOT was burned and taken out of circulation forever (reduced selling pressure). While this doesn’t seem like much that investors can price in additional burns in the future, it is crypto after all and valuations don’t have to be reasonable,” Crypto Stream observed.
See more information: 5 Best Toncoin (TON) Wallets in 2024
NOT 1D graph. Source: BeInCrypto
Notcoin, a Web3 game on the TON blockchain, launched in January as a Telegram applet and quickly gained more than 35 million players. In mid-May, completed the largest game token airdrop. Top Listings centralized exchanges fueled its growth by increasing turnover and market value.
Last week, Notcoin released “earning missions”, increasing the functionality and value of the token. This new feature allows users to earn passive rewards by participating in various missions, increasing community activity.
See more information: What are Telegram bot coins?
Although NOT is relatively new to the market, its strong community support, engaging reward systems and support from key figures position the token for further growth.
Disclaimer
In adherence to the Confidence Project guidelines, BeInCrypto is committed to impartial and transparent reporting. This news story aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyIt is Disclaimers have been updated.