Notcoin Price Skyrockets by 60%: What’s the Driving Force Behind it?

Notcoin (NOT) price has shown immense strength, taking a leap of almost 60% in less than a day. This recent bullish move has elevated NOT price to $0.0083 at press time, from a mere $0.0050. 

This recent price surge made NOT one of the most significant token launches of the year, attracting over 13 million unique players and achieving a market capitalization of over $758 Million.

Notcoin emerged as a contagious Telegram game that quickly spread the excitement of web3 to many users through a simple tap-to-earn mining activity. The $NOT token is the native currency for the community, and is also used in rewarding users as they explore and engage with the games in the ecosystem. 

Trade Volumes Skyrockets

The daily trading volumes for Notcoin witnessed a sharp increase, rising nearly 390% a day as per data from CoinMarketCap. This significant uptick indicated a surge in retail investor interest, fueled by the recent excitement surrounding the NOT token. The intraday trading volume reached a remarkable $758.40 million at the time of writing.

In addition, the ratio of volume to market capitalization stood at 84.19%, signaling considerable volatility within the cryptocurrency market. As per the Notcoin team, Notcoin’s price also drives momentum from the currency’s scarce supply, capped at 102.71 billion NOT tokens. 

Notcoin Social Sentiment On The Rise

Following the airdrop, Notcoin’s social sentiment soared, and with the recent price increase, it’s making headlines once more. A tweet highlighted Notcoin’s trending status on Coingecko just a few days ago.

Recently, The project’s team made comparisons between Notcoin and Bitcoin, marking this milestone with the announcement of NOT Airdrop Phase 1. A recent Twitter poll with 29,711 participants showed overwhelming support for Notcoin, with 86.2% preferring it over Bitcoin, which garnered 13.8% of the votes.

Leveraging the TON ecosystem

Notcoin’s integration within the TON ecosystem has been a significant factor in its success and growth. The TON ecosystem, originally developed by Telegram, is known for its high scalability, security, and efficiency, which supports a vast array of transactions and applications.

Moreover, the TON ecosystem’s vision was highlighted during the #Token2049 conference, where the Telegram CEO reiterated the grand ambitions for global Web3 users. The ecosystem has been in the spotlight, especially after the simultaneous launch of the $NOT token on multiple leading crypto exchanges, which has further propelled the popularity of TON.