Markets
Notcoin records weekly gains of 335%, closing in the Top 50
Popular play to earn The Notcoin (NOT) token continues to attract investors with its impressive price performance.
With the overall cryptocurrency market stable, the massive surge in NOT has caught the attention of traders, showing strong buying interest.
Notcoin surpasses $2 billion market cap
The NOT token was officially launched on May 16th. After release, it fallen by more than 60%, going from $0.012 to a low of $0.0050.
However, over the past week, the token has seen a stunning recovery, rising more than 335% to hit an all-time high of $0.028. NOT’s market capitalization has grown to around $2.3 billion, pushing it close to the top 50 cryptocurrencies. The 24 hours trading volume rose to $4.3 billion, up 265% from the previous day.
The crypto community is actively discussing the dynamics of Notcoin. Famous trader Crypto Steam suggested that the main drivers of the current rally were the launch of the staking feature, token burn and the actions of 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 might be pricing in further burns in the future, these are cryptocurrencies after all and valuations don’t have to be reasonable,” Crypto Stream noticed.
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NOT 1D chart. Source: BeInCrypto
Notcoin, a Web3 game on the TON blockchain, was released in January as a Telegram mini-app and quickly gained over 35 million players. The largest gaming token was completed in mid-May airdrop. Ads on majors centralized exchanges they fueled its growth by increasing trading volume and market capitalization.
Last week, Notcoin launched “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.
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Although NOT is relatively new on the market, its strong community support, engaging reward systems and support from key figures position the token for further growth.
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