Notcoin (NOT), a cryptocurrency built on the Toncoin blockchain platform, has recently attracted widespread attention in the cryptocurrency industry. The token has begun a bull run, as shown by a gain of over 30% on the monthly chart. This is mainly due to the increase of several positive factors. Specifically includes:
NOT spikes futures open interest
Information from Coinglass shows a significant increase in NOT futures trading volume since the beginning of June, reaching $247.06 million yesterday. This shows the heavy influx of money and investor interest in the asset, which goes hand in hand with the recent price increase.
Technical indicators are optimistic
At the same time, technical indicators and indicators show a strong strengthening of buying sentiment for this asset. The RSI, a key indicator of market sentiment, hovers around 61, emphasizing pressure from above for Notcoin.
The RSI has not yet reached the overbought zone, after which the price of this token may increase again. However, the current market picture is still optimistic.
Notcoin's growing popularity
Furthermore, Notcoin recently reached a major milestone, with 40 million active users. This comes from the rising popularity of "Tap-to-Earn" games on the Telegram platform. Cryptocurrency market participants expect an increase in the price of this asset to go hand in hand with the expansion of the project.
Additionally, the TON blockchain is supported by Telegram's 900 million user base, which has caused active addresses on the network to surpass those of Ethereum.
NOT follows the trend of Toncoin blockchain
NOT is the token following TON, the native token of the TON blockchain, reflecting an upward trend. TON has increased nearly 15% over the past month, while NOT has increased 36% during the same period. This price increase is in line with Telegram's increased usage, as mentioned above.
Currently, NOT is trading around $0.0198, with a 24-hour low and high of $0.01892 and $0.02146.
