- Investors still have time to mine Notcoin before the airdrop.
- Toncoin continues to benefit from Notcoin as its value soars.
Notcoin (NOT) has been creating buzz in the cryptocurrency community as investors wait patiently for the much-awaited airdrop date to be confirmed.
In the meantime, quite a few exchanges have announced listings of new tokens and mining opportunities. The Open Network (TON), the blockchain on which NOT will be issued, also attracted attention.
Notcoin will be arriving soon.
AMBCrypto reported How did Notcoin become a topic of discussion a few days ago?
The viral Telegram-based game came into the limelight after announcing that it would soon be airdropping real NOT tokens to in-game miners.
Things got even more interesting with the official launch confirmed for May 16th. Since then, several exchanges, including ByBit, have announced NOT listings.
In fact, Binance presentation It is said that Notcoin has been introduced into the launch pool. Users can farm NOT tokens for three days starting May 13th by staking BNB and FDUSD in separate pools.
Moreover, OKX presentation NOT released on Jumpstart. According to the exchange, investors cannot mine through staking. Toncoin (TON).
Toncoin continues to make gains
While Notcoin was gaining traction, TON benefited from this as the price of its token began to rise. This trend has continued for longer, with the price of TON rising by more than 21% over the past seven days.
According to CoinMarketCap, the price of TON has surged more than 6% in the last 24 hours alone. At press time, it was trading at $7.43 with a market capitalization of over $25.8 billion, making it the 8th largest cryptocurrency.
The good news is that this price increase was accompanied by a 100% increase in trading volume, laying the foundation for a bullish rally.
AMBCrypto’s analysis of Santiment’s data shows that there is high buying pressure on the token.
While exchange supply of TON decreased last week, off-exchange supply increased, reflecting higher buying pressure.
However, it was surprising to see an increase in bearish sentiment around TON despite the bullish price action. This was evident in the decline in Weighted Sentiment on May 11th.
Source: Santiment
To determine whether TON will continue this bullish rally, AMBCrypto analyzed the daily charts. Analysis shows that MACD has a huge bullish lead over the market.
The relative strength index (RSI) and money flow index (MFI) both recorded rapid increases, indicating a continued strong rally.
read Toncoin (TON) price prediction 2024-25
However, both of these indicators were about to enter the overbought zone.
Entering that zone could increase selling pressure on the token and ultimately put an end to the bull rally while investors wait for Notcoin’s launch.
Source: TradingView