Notcoin (NOT) has experienced a significant surge of over 11% in the last 24 hours, surpassing $0.021 and reaching a two-week high as bullish momentum takes over.
The rise in price for this Telegram-based game token is expected to continue as there is fresh momentum in the related Toncoin (TON) coin, which recently hit an all-time high, leading to 100% of addresses being profitable.
Following this surge, Notcoin’s market capitalization now stands at $1.9 billion, placing it at the 49th spot among the largest cryptocurrencies by market cap. In contrast, VeChain (VET), Maker (MKR), and Optimism (OP) have all seen declines of 6%, 2%, and 7% respectively in the past 24 hours.
Given the potential for further gains, Notcoin could potentially overtake VET, MKR, and OP in terms of market cap, as all three coins currently have a market cap just over $2 billion according to CoinMarketCap data.
Notcoin’s 24-hour trading volume of $1.2 billion is only surpassed by Bitcoin, Ethereum, BNB, Solana, and stablecoins like USDT, USDC, and FDUSD.
While NOT reached an all-time high of $0.028 on June 2, it has since retreated to $0.019 due to downward pressure in the broader crypto market.
The recent surge in Notcoin’s price is part of a larger trend in the industry known as “Tap2Earn,” with other trending tokens like Hamster Kombat and Yescoin also gaining popularity.
Notcoin’s advantage lies in being an early mover in the Telegram ecosystem, benefiting from the growth of The Open Network (TON) in recent months. With Telegram’s massive user base of 900 million and increasing support for cryptocurrencies on the platform, Notcoin has seen significant interest and growth.
Metrics such as daily active addresses for TON have seen a sharp increase in the past few months, indicating a positive trajectory that is likely to benefit Notcoin as well. The token is not solely relying on Tap2Earn for growth but is exploring other avenues as well.