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Notcoin surges as traders keen on capitalizing on its momentum

Notcoin

NOTCOIN (NOT), the Telegram based cryptocurrency has rallied to top 50 coins on coinmarketcap ranking. At the time of writing, NOT sits at position 46 with a marketcap of $1.9 billion trading at $0.0256 with a 7 day gain of 216%. It currently ranks higher than FLOKI (48), MAKER, Thorchain, Algorand, and Bitcoin SV among others. The impressive rise of Notcoin has attracted lots of interest in last several weeks.

On Binance spot market, Notcoin became the most traded on 24hr trade volume on June2nd. $NOT staking Launchpad V1.0 has also gone live on Binance.

Notcoin gained popularity in mid-May when it was listed on Binance giving millions of people a way to get into the action. Telegram CEO, Pavel Durov said on May 17th that Notcoin had reached 35 Million users. In his telegram channel, Durov explained that users can earn ‘notcoins’ by just clicking on it in a mini app. It is a simply a play-to-earn token that is integrated as a telegram mini app.  It was minted on TON blockchain and listed on major crypto exchanges. Notcoin is a gaming coin that quickly leveraged on power of community to gain millions of users upon launch. It also gave more credibility and legitimacy to burgeoning TON blockchain that was first introduced by Telegram team. It has perfectly leveraged social interactions for viral distribution showing that TON has opportunity to offer app developers a successful platform to launch their projects. Notcoin foundation also gifted the telegram CEO about 1billion Notcoin worth $6.8 M at the time.  Durov said he would hold the coins until they reach a value of $680, currently; the gifted coins are worth about $26M.

Traders are trying to capitalize on Notcoin’s surge to seize other lucrative opportunities in the crypto market that has seen cooling off of top coins. While some traders are noting that there could be possible pullbacks, some are emphasizing on adopting a strategic approach to capitalize on its momentum.  This continues to show the power of social sentiment and gaming that leverage on existing platforms to drive growth and adoption.  Developers are now seeking ways to launch other telegram mini apps that would be used to propel massive blockchain adoption according to analysts.  Telegram has for a long time been relied as the main communication platform for crypto communities. The team behind Notcoin says that they have solved the problem of bringing telegram users into crypto. I bet we have not seen the last of such developments yet.

Chris Kariuki

contact me chris@coinweez.com

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