Telegram entered the cryptocurrency world with a two steps forward, one step back approach and accelerated the process at a very opportune time. Now, while TON Coin has significantly inflated its market value, it continues its struggle to build its own ecosystem. NOT Coin is an important milestone here. So, what was the reason for the 300% increase?
Should You Buy NOT Coin?
One of the cryptocurrencies that has made a splash recently is NOT Coin. Last week, it experienced a 320% increase and reached an all-time high. In January 2021, Telegram reached 500 million users and continues its journey with a significant number of users. Especially, many cryptocurrency investors use this application closely for various reasons, similar to Discord, and it has successfully integrated with crypto through TON Coin.
On June 2, NOT Coin reached an all-time high price of $0.02896, achieving a first in its field. TON Coin’s first successful mini-application project in the P2E field utilized Telegram’s massive user base correctly and reached 30 million users.
With the listing on the BYBIT exchange on May 16, the price increased by 200%, continuing this rally. Notcoin reached a market value of $2.3 billion, becoming the 51st largest cryptocurrency. According to Justin Hyun, the investment director of the TON Foundation, Notcoin and other Telegram Mini Applications will achieve the target of 500 million potential users.
“It is possible to include 500 million people in the crypto network by 2028, and this is my goal. The ease of use and access we offer supports this goal.”
Why Did NOT Coin Rise?
Meme coins and particularly this trial initiated with Telegram support have significant social sensitivity. It directly affects the price. According to data compiled by Alphascan, Notcoin became the most mentioned cryptocurrency in a 12-hour timeframe.
“The second most mentioned token in a 12-hour timeframe. One of the most mentioned tokens in the daily timeframe. 45% of all weekly mentions occurred in the last 24 hours, and 81% of all daily mentions occurred in the last 12 hours.”
Notcoin saw a trading volume of over $4 billion on June 3, confirming this excessive interest compared to its market value. For example, USDC could only reach a volume of $3.5 billion. According to Ali Martinez, the increasing social sensitivity around Notcoin reflects the potential for success in this area. Of course, no one can predict the future.
