CDS Crypto News NOT Airdrop Closure Triggers 11% Decline in Notcoin Value

NOT Airdrop Closure Triggers 11% Decline in Notcoin Value

Ecem EFE17/06/20242 Mins read326

Not Airdrop Closure Triggers 11% Decline In Notcoin Value

NOT Airdrop Conclusion Sends Notcoin Tumbling 11%

Crypto News- Notcoin, experiencing an 11% drop since the conclusion of its airdrop claim on Sunday evening, faces a tumultuous turn in its trajectory. With 11.5 million holders, including 2.5 million on-chain, the NOT token’s distribution landscape appears broad but uncertain. The Notcoin team, however, reassures investors that the majority of the drop has been distributed, with plans to allocate unclaimed tokens towards future development endeavors, coupled with partial burning.

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In the current market scenario, NOT’s price stands at $0.01812, representing an 11% decline from the previous day and marking its lowest value since early Friday morning, according to CoinGecko data. Despite this steep one-day plunge, the token’s value remains only 4.6% lower than the previous week. Notably, NOT continues to boast a staggering 166% surge from its launch just a month ago.

Among the vast array of cryptocurrencies, NOT holds its ground as the 57th largest, sporting a market capitalization of $1.8 billion, thereby surpassing prominent projects like Aave, Jupiter, and Ethereum L2 zkSync in size.

Notcoin’s Role in the Telegram Crypto Gaming Boom

The success of Notcoin is intricately tied to the burgeoning popularity of crypto-fueled games within the Telegram messaging app. Much of the recent activity surrounding Notcoin stems from the fervor generated by the closure of its airdrop claim, which provided players with various options, including sending tokens to exchanges, withdrawing to self-custody wallets, or staking within the Notcoin ecosystem to unlock additional rewards.

Looking ahead, the Notcoin team plans to divulge details later this week regarding enhanced rewards for gold and platinum level stakers, further incentivizing participation. With its user base ballooning to 35 million, Notcoin’s influence reverberates across the crypto gaming landscape, inspiring emulation from other Telegram-based games like Hamster Kombat. The latter is set to embark on its own token launch next month, indicative of a broader trend within the Telegram ecosystem.

Indeed, Notcoin’s journey is not isolated, as fellow Telegram mini-app games Yescoin and TapSwap have also announced intentions to launch tokens on The Open Network, cementing the platform’s status as a breeding ground for innovative crypto projects.

FAQs

What led to Notcoin’s 11% drop in value?

Notcoin experienced an 11% decline following the conclusion of its airdrop claim. This drop can be attributed to various factors, including market volatility, investor sentiment, and the dynamics of token distribution post-airdrop.

How many holders does Notcoin currently have?

As of the latest update, Notcoin boasts 11.5 million holders, with 2.5 million of them being on-chain holders. This broad distribution landscape underscores the token’s widespread adoption.

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.