We can rightly say that Notcoin (NOT), the recently launched Telegram-powered cryptocurrency, has become one of the most widely discussed projects in the Web3 space.
Shortly after being listed, it transitioned from a mini-app on Telegram with no value in early 2024 to a crypto with a substantial market capitalization of over $2.5 billion.
Notably, within the first six months of its public release, Notcoin brought more people to Web3 than any other project. Without raising funds from investors or venture capitalists, the $NOT token was listed on Binance, the world’s leading exchange, and surged over six times in just two weeks.
Similarly, the Notcoin airdrop was more extensive than the combined airdrops of ZkSync and LayerZero. Over 11.5 million users received NOT tokens, amounting to a total value of over $2.5 billion. On the other hand, ZkSync distributed tokens valued at $954 million to 695,000 users, and LayerZero distributed tokens valued at $323 million to 1.28 million users.
NOT Consistently Leads Market Gainers
After leading as one of the top-performing assets for several consecutive days before the recent global crypto market downturn, it has recently shown a strong comeback and is again leading the market.
When looking at the list of the top crypto gainers on Coinmarketcap in the last 24 hours, Notcoin leads the entire market with an approximate 15% increase. It is followed by AI coins like Fetch.ai (FET) and SingularityNET (AGIX), which have recorded 7.19% and 6.55% increases in the last 24 hours.
The ongoing positive performance of Notcoin (NOT) over the past day is likely due to some exciting updates and developments from the project’s team, which have renewed the community’s excitement about the project.
Why Notcoin Is Surging Today
The surge in Notcoin’s value comes after an announcement on June 25 stating that the project had burned $NOT tokens valued at $3 million. The update also includes details of a $4.2 million incentive program designed to benefit Gold and Platinum users of the Notcoin Explore platform.
The token burn is a critical element of Notcoin’s strategy to enhance its token economics and provide value for users. The team emphasized that Notcoin Tokenomics is “now extremely community-oriented.”
This TON-powered tap-to-earn project aims to create scarcity by reducing the overall token supply, which could raise the token’s value and attractiveness. This strategy seems to work well as evident from NOT’s price performance today.
Another possible reason for the recent increase in Notcoin’s price could be their announcement on June 26. They revealed that $2.5 billion worth of NOT tokens would be distributed to the Notcoin community. As mentioned earlier, their series of airdrops is larger than the combined airdrops of ZkSync and LayerZero.
As of the latest update, NOT is changing hands for $0.01617. Its daily trading volume has increased by 74% to reach $579 million, and the token’s market capitalization has also risen by 13% to $1.65 billion.
Notcoin daily price data (Source: Coinmarketcap.com)
According to CoinMarketCap data, NOT is the 53rd largest cryptocurrency by market cap. The NOT token has now surpassed well-known coins such as Floki, Theta Network, Celestia, and Jasmycoin in size.
