NOT (Notcoin) has been soaring all the way, what factors have driven the surge!
NOT In the past few days since its launch, the TVL of the TON network has increased significantly. As of May 10, the TVL was 41.16 million TON, an increase of approximately 35% in May and a 7-fold increase so far in 2024, highlighting the strong demand for TON. At the same time as the demand, it also proves the driving effect of NOT on the TON ecosystem.
The TON ecosystem is currently in an early stage, and with the huge user base of Telegram, its development potential is undoubted. With the precedent of Solana and Base empowering the MemeCoin ecosystem to break through the circle and increase TVL, Notcoin is regarded as a key project that can help TON achieve breakout and expansion. Compared with the development of ecological project TVL, Meme's popularity has become an easier method to achieve in the short term. Notcoin is based on the TON blockchain and initially gained popularity as a popular click-to-earn game on Telegram. The game has attracted 35 million players to date. Additionally, it effectively introduced users to Web3 technologies and drove significant engagement.
Public data shows that the $NOT token has risen nearly 40% in the past 24 hours and more than 280% in 7 days.
What factors are driving the surge in NOT?
1. Mortgage function,
2. The project party destroys $NOT tokens
3. Market manipulators push up prices
One of the reasons is the reduction of circulating supply through the staking feature, as well as token burns by ecosystem projects.
Telegram’s Pavel Durov pledges to hold $6.8 million worth of Notcoin until it makes a 100x return
Telegram founder Pavel Durov responded to Notcoin's previous donation of $6.8 million in NOT tokens. He said: "Notcoin community users have exceeded 500,000. They gave me $6.8 million worth of NOT tokens. Thank you very much. I will hold these tokens until their value reaches $680 million; at that time, I will use the money to buy more servers for Telegram."
Pavel Durov has previously expressed support for the Notcoin project, saying that the Notcoin story shows the powerful influence of the Telegram/TON ecosystem on application developers. Telegram provides application developers with more freedom than any other platform and provides unparalleled opportunities to use social interactions for virality. In turn, TON provides scale and flexibility for any blockchain project built on it. (Beincrypto)
Earlier on May 17, Notcoin posted on the X platform that 1,030,383,291.36 NOTs (about 6.8 million US dollars) had been sent as a donation to Telegram founder Pavel Durov and Telegram to thank them for their support.
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On May 17, Pavel Durov, founder of the instant messaging platform Telegram, thanked the Notcoin project for its generous donation.
The game-based initiative earned Durov and his team more than 1 billion Notcoin (NOT) tokens, worth about $6.8 million.
Notcoin gets backing from Telegram’s Durov
The tokens came from 552,586 members of the Notcoin community. 203,303 of them earned the tokens through gaming. This effort shows the strong support of the Notcoin community. "500,000 Notcoin users sent me $6.8 million worth of Notcoin! Thank you. I will hold on to these coins until they reach $680 million, when I will use them to buy more servers for Telegram," Durov said.
So, will the rally continue?
It is hard to estimate. Personally, I would stay away from buying this token right now because the risk is too high. There are other tokens in the market with better risk-reward ratio.
On the other hand, more liquidity may flow from $TON to $NOT, as it is now considered a blue chip ecosystem token. It has risen a lot in the past few days and may adjust. Ecosystem projects may divert liquidity. NOT is the first "high-quality" token in the TON ecosystem. The so-called high-quality means that it has the attention of investors and is supported by the $TON ecosystem and Binance. It is certain that other tokens will follow.
Bullish case for $NOT
As you all know, $NOT is the token for a popular social clicker game on Telegram, which later added leaderboards and squads features. At its peak, it reached a staggering 35 million users!
Today, $NOT is the main token of the Notcoin ecosystem, where you can explore and play mini-games on Telegram. In addition:
Listed and supported on Binance
100% of tokens in circulation
Leveraged bet on the $TON ecosystem
Notcoin surpasses Worldcoin in market capitalization
According to the latest data from Coingecko, Notcoin (NOT) has surpassed $1.1 billion in market value, reaching $1,162,299,067 at the time of writing, setting a new record. In addition, Notcoin's market value has now surpassed Worldcoin, which currently has a market value of $1,157,595,480. Notcoin currently ranks 85th in the global cryptocurrency market value ranking.
