Markets
Notcoin surges 219% with billions in trading volume as TON re-enters top 10
A token linked to the Telegram-based clicker game Notcoin (NOT) has surged to over $2 billion in market capitalization in recent days, with its price skyrocketing just weeks after its debut.
Dumped in May to users for repeatedly mining an in-game digital gold coin, Notcoin has increased by 5% in the last day to $0.022, according to CoinGecko data, further propelling a 219% gain over the past seven days. In the last two weeks alone, the cryptocurrency has grown by 300% thanks to the continued efforts of users.
Released on The open network (TON), the game that got users fervently tapping on their screens, has become the largest gaming-related token launched so far this year. It is currently the 57th largest cryptocurrency by market capitalization, according to CoinGecko.
Over the past weekend, Notcoin price reached an all-time high above $0.028. At that time, the cryptocurrency had a market capitalization of $2.77 billion, a sharp increase from the coin’s total value of around $565 million shortly after the airdrop in late May.
More than $4.2 billion worth of Notcoin was traded in the last 24 hours, according to data Since CoinMarketCap, of which almost $2.4 billion came from exchange giant Binance. OKX comes next with a trading volume of $630 million, followed by Bybit with around $436 million.
Last month, the project released “Earning missions” that allow users to earn NOT passively by completing certain tasks. In previous scenarios, Notcoin users performed actions, namely tapping, in the hopes of receiving a one-time allocation of cryptocurrency.
Meanwhile, The Open Network also saw its native token Toncoin (TON) rise. Adopted by messaging app Telegram as its “official Web3 infrastructure” last year, The Open Network-related coin saw its price increases to $6.65 over the past 30 days, showing a 16% gain.
On Monday, Toncoin recorded gains of 2.6% over the past day. However, after having been forced out From its place in the top ten by market capitalization last week, Toncoin’s recent gains were enough to reclaim the spot at nearly $16 billion, which was previously held by Cardano. But they remain very close in terms of market capitalization as of this writing.
Edited by Andrew Hayward
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.