Notcoin price plummets as focus shifts to Dotcoin, Hamster Kombat, Blum

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As a researcher with a background in cryptocurrency and blockchain technology, I’ve been closely following the developments of various projects in this space. The recent sell-off of Notcoin and the surge in popularity of other tap-to-earn applications on Telegram is an intriguing trend that warrants closer examination.

As an analyst, I’ve observed that the Notcoin price experienced significant selling pressure on Thursday, coinciding with a decrease in its daily trading volume. It seems that investors have diverted their attention towards other Telegram-based tap-to-earn projects such as Hamster Kombat, TapSwap, and Yescoin.

The stock didn’t reach a price of $0.015 on Thursdays, marking a nearly 50% decrease from its peak this month. Consequently, its market capitalization has dropped significantly from more than $2.7 billion to around $1.5 billion.

As a crypto investor, I’ve been keeping an eye on Notcoin’s performance based on data from CoinGecko. I noticed that the trading volume for this digital asset dropped significantly – from $945 million on Wednesday to just $630 million as of today. This is the lowest volume recorded since June 14, implying a potential decrease in hype surrounding Notcoin.

Hamster Combat users dwarf Notcoin

As a researcher studying the cryptocurrency market, I’ve noticed that the price of Notcoin has taken a step back recently, with investors shifting their attention towards upcoming airdrops on Telegram from leading tap-to-earn platforms. The user base of Hamster Combat, for instance, has surged past the 150 million mark, dwarfing Notcoin’s current 40 million user count.

The number of users for TapSwap has surpassed 54 million, while YesCoin counts over 11 million members. Among other successful tap-to-earn platforms on Telegram are Blum with around 20 million, Dotcoin at 15 million, MemeFi boasting 13.9 million, and BBQCoin having nearly 9 million users.

Using these platforms like Notcoin, users can easily mine cryptocurrencies without the need for complex hardware setup or technical knowledge. By simply tapping a button within their apps, they contribute to the mining process. Subsequently, once the tokens are listed, users exchange them for traditional currencies.

As a researcher examining the expansion of tap-to-earn networks, I have identified two primary factors contributing to their growth: the user-friendly interface and the vast Telegram user base. According to the latest statistics, Telegram has amassed over 900 million users globally.

Users can effortlessly register and subsequently begin earning rewards simply by pressing a button on our compact application. Additionally, they have the opportunity to amass extra tokens through uncomplicated actions such as inviting companions, favoriting a social media platform, and engaging in tournaments.

The concept of “Tap-to-Earn” now represents the evolution of blockchain gaming, an sector that experienced significant growth during the pandemic but subsequently declined. During this period, Decentraland, Sandbox, and Axie Infinity were among the most popular platforms in the blockchain gaming industry.

The surge in value of their tokens resulted in multi-billion-dollar valuations for Notcoin, Hamster Kombat, Dotcoin, and Blum. However, they subsequently collapsed and have yet to regain their footing. It remains intriguing to observe whether these digital currencies will endure.

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2024-06-20 17:52