TL;DR
- Value Drop: Notcoin (NOT) experienced an 11% decrease in value post-airdrop, trading at $0.0179, yet remains 166% above its launch price.
- Market Position: With a $1.8 billion market cap, NOT ranks as the 57th largest crypto, outperforming Aave and others.
- Future Rewards: The Notcoin team plans to incentivize stakers with extra rewards, particularly for gold and platinum tiers.
The cryptocurrency market has witnessed Notcoin’s (NOT) value dip by 11% following the conclusion of its airdrop event. The token now boasts a robust base of 11.5 million holders, with a significant 2.5 million being on-chain holders.
This drop comes despite the team’s efforts, as noted in their early morning tweet, to allocate unclaimed tokens to future development and burn a portion to reduce supply.
Current Market Standing
At present, NOT is trading at $0.0179, marking a nearly 12% decrease from the previous day and hitting its lowest point since early Friday morning. Despite this sharp decline, it remains only 4.6% lower than last week’s figures and impressively trades 166% higher than its initial launch price a month ago.
With a market capitalization of $1.8 billion, NOT stands as the 57th largest cryptocurrency, surpassing other notable names like Aave (AAVE), Jupiter (JUP), and zkSync (ZK).
Boost from Telegram-Based Games
A significant contributor to NOT’s rise has been the success of crypto-fueled games on Telegram. The recently concluded airdrop claim heightened activity within the Notcoin ecosystem, prompting users to engage in staking to earn additional rewards.
The Notcoin team has teased upcoming details for gold and platinum-level stakers to earn extra rewards later this week. This announcement aligns with their strategy to incentivize deeper engagement within their ecosystem.
The claim is over 👏
A month ago Notcoin was listed and became a real community token, owned by you and people like you.
So far, Notcoin have got 11.5M holders: they've claimed tokens, staked, sent to exchanges or withdrawn onchain.
Most of the drop was distributed already,… pic.twitter.com/MyNp4h6FWB
— Notcoin Ø (@thenotcoin) June 17, 2024
Gaming Ecosystem Growth
Notcoin’s integration into Telegram games has seen its player base grow to 35 million. Other games like Hamster Kombat are following suit with similar token launch plans on The Open Network (TON), indicating a trend among Telegram mini-app games.
Since its inception on May 16, NOT has seen rapid growth and adoption. Listed on major exchanges such as Binance, Bybit, and KuCoin, NOT’s capitalization soared past $1.8 billion swiftly. The token’s value has seen a significant uptick of over 164% in the past month alone.
What’s Next for NOT
With most tokens from the airdrop distributed and plans for further development underway, Notcoin is setting its sights on rewarding its community further. The team promises additional rewards for those who have invested in staking at higher tiers, reinforcing their commitment to reciprocate user support.
