On May 30, the #Notcoin ($NOT ) gaming token jumped 30% to $0.012. Its capitalization reached $1.22 billion with a trading volume of $1.29 billion, according to #CoinGecko .
The weekly growth of the asset amounted to almost 130%. At the time of writing, the project ranks 81st in the top of the largest cryptocurrencies.
Despite the decline after the listing, the asset continues to gain back ground. #CryptoQuant analysts attributed such dynamics to the NOT distribution model.
"After listing on Binance on May 16, there was a sharp increase in the number of transactions [with NOT] and active addresses, although the price and trading volumes soon declined, indicating that the initial excitement has faded. Despite this, the significant accumulation of funds by large holders indicates sustained confidence," the experts wrote.
According to their data, a significant portion (69.59%) of the NOT airdrop was distributed via onchain withdrawal, while 22.87% was allocated to community incentives - this "demonstrates a strategy aimed at broad engagement."
A significant proportion of coins went to centralized exchanges after launch, CryptoQuant noted. The initial "market overreaction" caused a correction, but a combination of holder accumulation and community incentives provided the potential for recovery.
