Cryptocurrency markets often see new altcoins gaining attention, especially during bullish trends. When risk appetite is relatively strong, investors show particular interest in assets that are seen as being at the beginning of their price journey. These days, the new favorite among investors is NOT Coin. So, what is the current situation?
Notcoin (NOT)
We mentioned this in the important developments of the week section shared on Sunday. On May 16 (yesterday), popular cryptocurrency exchanges consecutively listed Notcoin. As a result, the newly introduced altcoin attracted significant interest and became one of the top 10 cryptocurrencies by volume.
Following its official launch, Notcoin’s market value surpassed the $1 billion threshold in just 10 minutes. Currently, with a market value hovering around $700 million, NOT Coin ranks 107th among the largest cryptocurrencies.
We know that game projects haven’t received enough attention for a long time, but this altcoin became the eighth most popular cryptocurrency in 24 hours with a transaction volume exceeding $1.4 billion. It outperformed its competitors in its class, such as Pixels (PIXEL) and Saga (SAGA), but it is uncertain how long it can maintain this interest.
TON and NOT Coin
In particular, we have seen the popularity of TON Coin increase in the last few months, surpassing the $20 billion market value threshold. Yes, more than 90% of the supply is held by a few investors, but its backing by Telegram makes it intriguing. In fact, there were also announcements yesterday about a partnership with Tether for payment solutions.
The idea of a blockchain embedded in the Telegram application, which is widely used by cryptocurrency investors, definitely attracted attention. Additionally, Tether’s support gives meaning to its long-term growth story. Since NOT Coin is part of the TON Coin ecosystem, it is directly related to the topic. Telegram’s founder Pavel Durov said;
“This incredible success story shows how powerful the Telegram/TON ecosystems are for app developers. Telegram offers app developers more freedom than all other platforms, providing unique opportunities to leverage social interactions for viral distribution.”
The Web3 game built on the TON blockchain, Notcoin, attracted the interest of 35 million players.
