Notcoin (NOT) has seen an 80% increase in value in the past 2 days. This surge has propelled Notcoin to be one of the top gainer cryptos with a trading volume increase of 80% in the last 24 hours. A crypto analyst, @wiseadvicesumit, shed light on several key metrics that are driving the price surge and suggested that the Notcoin rally may “stop anytime soon.”
Understanding Notcoin
Notcoin is a community token that aims to onboard users into the world of Web3 through a unique “tap-to-earn” mining mechanic. Here are some key facts about the token:
Token Name: Notcoin (NOT)
Total Token Supply: 102,719,221,714
Initial Circulating Supply: 102,719,221,714 (100% of the maximum token supply)
Driving Forces Behind the Rally
Since its launch on the Binance Launchpool, Notcoin has witnessed a bullish growth in on-chain metrics, further fueling its price surge:
New Notcoin On-Chain Holders: Over 1 million new holders have joined the network.
Notcoin Mints: 841,170 mints have been recorded.
Decentralized Exchange (DEX) Activity: 216,530 swaps have been executed by 117,254 traders within 30 hours.
NFT Voucher Swaps to Notcoin: 67,258 swaps across 16 addresses have been recorded.
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Fundamental Drivers
Adding to the positive sentiment, Tonkeeper recently announced the launch of gas-free payments in USDT and Notcoin, providing further utility to the token. Moreover, a significant burn of 6.95 million Notcoin tokens last week has contributed to the price appreciation by reducing the circulating supply.
Based on these metrics, the Notcoin rally appears to be driven by robust fundamentals rather than mere speculation, suggesting that the upward momentum may continue for some time.
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The post Why Is Notcoin (NOT) Crypto Price Still Pumping? Metrics Show Rally May Not “Stop Anytime Soon” appeared first on CaptainAltcoin.