Popular monetization token Notcoin (NOT) continues to attract investors with its impressive price-performance ratio.
As the overall cryptocurrency market remained stable, NOT’s massive surge caught the attention of traders, showing strong buying interest.
Notcoin’s market capitalization exceeds $2 billion
NOT token was officially launched on May 16th. After launch, the price fell by more than 60%, falling from $0.012 to $0.0050.
However, in the past week, the token has made a remarkable recovery, rising over 335% to reach an all-time high of $0.028. NOT’s market capitalization has grown to approximately $2.3 billion, putting it closer to the top 50 cryptocurrencies. The 24-hour trading volume soared to $4.3 billion, a 265% increase from the previous day.
The cryptocurrency community is actively discussing the dynamics of Notcoin. Prominent trader Crypto Steam suggested that the main triggers for the current rally are the launch of staking features, token burns, and market maker activity.
“Approximately $18 million will be burned and permanently out of circulation (reducing selling pressure). I don’t think many investors will price in additional burns in the future, but after all, this is cryptocurrency and valuation doesn’t have to be reasonable.”, Crypto Stream famous.
Read more: 5 Best Toncoin (TON) Wallets for 2024
Notcoin, a Web3 game on the TON blockchain, launched as a Telegram mini-app in January and quickly gained over 35 million players. In mid-May, we completed the largest gaming token airdrop. Listings on major centralized exchanges have fueled growth by increasing trading volume and market capitalization.
Last week, Notcoin launched a “monetization mission” to increase the functionality and value of its token. This new feature allows users to earn passive rewards by participating in various quests and increasing community activity.
Read more: What is Telegram Bot Coin?
NOT is relatively new to the market, but with strong community support, an attractive rewards system, and support from key figures, the token can grow even further.
disclaimer
In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.