Notcoin price rises 350%, adding $2 billion to cryptocurrency market cap. Notcoin trading volume surges to over $4.5 billion.
Telegram-based cryptocurrency Notcoin (NOT) has seen a one-sided rise, with weekly gains exceeding 350%. While the entire cryptocurrency market consolidated over the weekend, the price of Notcoin (NOT) surged another 40% on Sunday, hitting a new all-time high of $0.027. At press time, NOT is trading at $0.02373 with a market cap of $2.439 billion.
Notcoin daily transaction volume surges
During the recent rally, Notcoin’s daily trading volume surged 220%, all the way to over $4.5 billion, making it the fourth most traded cryptocurrency on the market right now.
Analysts attribute the surge in Notcoin’s value to its successful integration with Telegram’s massive user base. Although the recent airdrop was not initially well received, it has since seen a positive turnaround, reflected in the token’s price increase.
The significant growth of Notcoin network transactions is consistent with its growing popularity. The platform allows users to earn NOT tokens by simply playing games and completing tasks. Recently, Notcoin launched “yield tasks” that enable passive token accumulation to further increase user engagement.
With its simple gameplay and social media integration, Notcoin is well-positioned to capitalize on the growing play-and-earn trend. Market analysts believe that Notcoin’s price could rise to $0.1.
Surge in whale activity
On-chain data provider Lookonchain reports that Notcoin ($NOT) has seen a massive price increase, gaining more than 400% over the past seven days.
Lookonchain highlighted that a well-known investor (known as a whale) made $862,000 in unrealized profits on $NOT. This investor spent 50,550 $TON ($278,000) to buy $464 billion of $wNOT before $NOT was listed.
Every $1,000 of wNOT can be exchanged for $1 of NOT. On May 21, the whale exchanged all 46.4 billion wNOT for 46.4 million NOT and has been holding it ever since, making a profit of about $862,000.
As long as the Telegram app craze continues, Notcoin bulls will continue to charge forward and reach higher price targets.
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