Notcoin, the popular crypto project, and Web 3 game has announced its plans to launch a story-driven Web 3 game in partnership with non-fungible token (NFT) outfits Lost Dogs and Getgems.  

Lost Dogs is an NFT collection while Getgems is an NFT marketplace based on The Open Network (TON).  

Notcoin which is quite popular in Nigeria as the pioneer Telegram-based Web 3 clicker game also organized a very successful airdrop that earned its Nigerian community lots of money.  

The price of Notcoin (NOT) recorded an impressive 15% surge, crossing the $0.20 mark and reversing its previous downtrend since hitting an all-time high of $0.028 on June 2. Notcoin is the token associated with the TON blockchain which has gained massive popularity after it was airdropped to users of the widely popular Telegram-based “tap to earn” game.

The spike signals more investors are willing to stake more capital for Notcoin based on their confidence in the potential of the asset. Additionally, the performance is causing others to onboard now due to the Fear of Missing Out (FOMO).

The Popularity Influence of Telegram-Based Games

Given the wide acceptance of the tap to earn game and traffic to the Telegram platform, the CEO Pavel Durov, celebrated its popularity.

Notably, NOT’s significant price increase coincided with TON itself breaking its prior all-time high as it briefly surpassed $8.00 for the first time since its inception. According to CoinMarketCap data, TON is currently $8.08, up 0.49% in the past 24 hours.

Interestingly, the positive shift in price for both tokens coincides with the increasing popularity of other Telegram games. Some of the more popular “x to earn” games include Hamster Kombat and Yescoin. Although these games according to data have tens of millions of users globally, it is uncertain if the numbers are that high due to bot participation.

Boosting Activity on the TON Blockchain

In any case, the platform is very user-friendly and the ease of signing up, acquiring a wallet, and participating in these games is significantly boosting activity on the TON blockchain. Based on reports from some quarters, the daily active wallet figures have exceeded those on Ethereum.

However, it’s important to note that these statistics exclude Layer 2 solutions, and wallet numbers may not accurately reflect the number of unique users. Regardless, the current number of daily active wallets stands at over 547,000, according to Tonstat, showing a clear upward trend.

Factors Driving Notcoin’s Surge

Analysts attribute the growing surge in Notcoin to several factors, notable amongst them being its association with the TON ecosystem. The TON network is famous for efficiency and scalability, a major attraction for the road user base. Additionally, with its outstanding growth in 2024, Toncoin has been projected to gain by 234% and reach $23.61 by the end of June.

Meanwhile, given the limited supply of 102.71 billion NOT tokens, the demand and scarcity dynamics is contributing to stabilizing the price movement.

Source

KuCoin’s research arm published a report highlighting that the crypto space saw over $1 billion in investments in May, a slight decrease compared to the previous month. 

On June 13, KuCoin Research said that 156 investments were publicly disclosed in May. In addition, the crypto exchange’s research arm reported that $1.02 billion in investment capital flowed into the space.

This represents a 10.61% increase compared to May 2023. However, the figure shows a 6.4% decrease when compared to April.

Attention is shifting to Notcoin. The token is fast becoming the breakout star of the cryptocurrency industry with a stellar performance of over 400% gain in value and a new all-time high record of $0.027.

Should we forget Bitcoin?

The telegram-based token gained a 47% daily profit to emerge as the top market gainer outperforming crypto heavyweights like Bitcoin and Ethereum.  However, those still remain the top two of choice for most investors.

Notcoin’s stellar performance has gained the attention of various crypto analysts who are trying to understand the frenzy behind the social media-driven crypto project.