As an analyst with experience in the cryptocurrency market, I find the sudden and significant drop in Notcoin (NOT) price concerning. The token’s value has dropped around 55% since gaining listings on major exchanges, which is a red flag for any investor.
The value of NOT, the digital currency associated with the Telegram clicker game app Notcoin, has experienced a significant decrease – approximately 55% – following its addition to prominent cryptocurrency trading platforms.
Based on information from CoinMarketCap, the price of NOT is currently at $0.006587. This represents a significant decrease of 54.50% compared to previous levels. Additionally, NOT’s trading volume has decreased to $1.35 billion, and its market capitalization now stands at $661 million.
As a researcher studying the latest developments in the blockchain and web3 gaming scene, I’m excited to introduce you to Notcoin, a groundbreaking project that debuted on January 1st within The Open Network (TON) ecosystem. This innovative platform operates primarily inside Telegram, allowing users to earn coins through an engaging array of activities with just one tap.
The mining stage in the game ended on April 1. Originally, the NOT token was set to debut on April 20, aligning with the Bitcoin halving event. However, the Notcoin developers chose to delay the launch on two occasions to ensure a smooth rollout.
Multiple cryptocurrency trading platforms, such as Binance, OKX, KuCoin, and Bybit, have revealed their intention to list the NOT token on their sites. Consequently, there has been a surge in interest towards this digital asset following these declarations.
Within hours of its debut on May 16, Notcoin began trading with a fully diluted market value exceeding one billion dollars on various exchanges following its distribution through an airdrop.
Despite gaining over 35 million new users and generating $294 million in revenue during its initial hour of trade, the token’s value experienced a significant and abrupt decrease of approximately 55%. This steep decline can be attributed to a large number of “airdrop farmers” who quickly sold off their tokens following the distribution event.
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2024-05-17 13:41