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Notcoin (NOT) Gains 335% in a Week, Nears Top 50 Cryptos

2 mins
Updated by Daria Krasnova
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In Brief

  • Notcoin (NOT), a popular play-to-earn token, has recently experienced significant gains.
  • After initially dropping post-launch on May 16, NOT recovered, rising by 335% in the past week.
  • NOT market cap has grown to $2.3 billion, putting it close to the top 50 cryptocurrencies.
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Popular play-to-earn token Notcoin (NOT) continues to attract investors with its impressive price performance.

With the overall crypto market staying steady, NOT’s massive surge has caught the eye of traders, showing strong buying interest.

Notcoin Surpasses $2 Billion Market Cap

The NOT token officially launched on May 16. After the release, it dropped by over 60%, falling from $0.012 to as low as $0.0050.

However, in the last week, the token has made a stunning recovery, rising by over 335% to reach an all-time high of $0.028. NOT’s market cap has grown to about $2.3 billion, pushing it close to the top 50 cryptocurrencies. The 24-hour trading volume surged to $4.3 billion, a 265% increase from the previous day.

The crypto community is actively discussing Notcoin’s dynamics. Prominent trader Crypto Steam suggested that the main triggers of the current rally were the launch of the staking function, token burning, and market maker actions.

“Around 18m $NOT have been burned and taken out of circulation forever (reduced sell-pressure). While this doesn’t seem a lot investors might price in additional burns in the future, it is crypto after all and valuations don’t have to be reasonable”, Crypto Stream noted.

Read more: 5 Best Toncoin (TON) Wallets in 2024

Notcoin 1D chart
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. In mid-May, it completed the largest gaming token airdrop. Listings on major centralized exchanges have fueled its growth by increasing trading volume and market cap.

Last week, Notcoin launched “earnings missions,” boosting the token’s functionality and value. This new feature allows users to earn passive rewards by participating in various quests, increasing community activity.

Read more: What Are Telegram Bot Coins?

Although NOT is relatively new to the market, its strong community support, engaging reward systems, and backing from key figures position the token for further growth.

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Daria Krasnova
Daria Krasnova is an accomplished editor with over eight years of experience in both traditional finance and crypto industries. She covers a variety of topics, including decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), and real-world assets (RWA). Before joining BeInCrypto, she served as a writer and editor for prominent traditional finance companies, including the Moscow Stock Exchange, ETF provider FinEx, and Raiffeisen Bank. Her work focused on...