The 350% rally in Notcoin’s price has increased its market cap by $2 billion. Trading volumes for NOT have soared to over $4.5 billion.
Notcoin (NOT), a cryptocurrency based on Telegram, has seen a massive rally, extending its weekly gains to over 350%. While the broader cryptocurrency market consolidated over the weekend, Notcoin’s price surged an additional 40% on Sunday, reaching an all-time high of $0.027. Currently, NOT is trading at $0.02373 with a market cap of $2.439 billion.
Notcoin’s Meteoric Rise: Surge in Transaction Volume and User Engagement
In the recent rally, Notcoin’s daily transaction volume has skyrocketed by 220%, surpassing $4.5 billion and making it the fourth-highest traded cryptocurrency in the market.
Analysts attribute the surge in Notcoin’s value to its successful integration with Telegram’s extensive user base. Although the recent airdrop initially received a lukewarm reception, it has since experienced a positive turnaround, reflected in the token’s price increase.
The notable growth in Notcoin network transactions aligns with its rising popularity. The platform allows users to earn NOT tokens through simple games and task completion. Recently, Notcoin introduced “earnings missions,” which enable passive token accumulation, further boosting user engagement.
With its straightforward gameplay and social media integration, Notcoin is well-positioned to capitalize on the growing play-to-earn trend. Market analysts believe that the Notcoin price could be eyeing potential gains up to $0.1.
Notcoin’s Price Surge: Whale Profits and Bullish Momentum
On-chain data provider Lookonchain has reported a significant surge in the price of Notcoin ($NOT), which has risen by more than 400% in the past seven days.
Lookonchain highlighted that a notable investor, referred to as a whale, has an unrealized profit of $862,000 on $NOT. This investor spent 50,550 $TON ($278,000) to purchase 46.4 billion $wNOT before $NOT was listed.
Each 1,000 $wNOT can be exchanged for 1 $NOT. On May 21, the whale converted all 46.4 billion $wNOT into 46.4 million $NOT and has been holding it since, realizing a profit of approximately $862,000
As long as the craze around Telegram mini apps continues, the Notcoin bulls will continue to charge in, reaching higher price targets.
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