Notcoin (NOT), a Telegram-based cryptocurrency, has defied the general market correction by 40% in the last day, with daily trading volumes increasing by an incredible 450% to over $1 billion. After a week without any movement, investors are relieved to see this rally. Notcoin (NOT) is now trading at $0.007899, with a market capitalization of $811 million as of writing.
The Unstoppable Rise of Bitcoin
The incredible expansion of Notcoin is happening simultaneously with the increasing popularity of Notcoin, a Web3 game that can be played for free on Telegram. With its ability to convert in-game currency to Notcoin tokens, this game has attracted much interest from Telegram’s large user base.
The coin saw a significant uptick after its much-awaited airdrop, which initially failed to provide holders with gains.
Prominent cryptocurrency trader Zen has projected a positive attitude about not in the medium run. The long-term is market-dependent, but it’s also definitely bullish. “You should buy on dips,” the analyst continued.
$NOT coin covered the gap left from after-launch sell off. Basically that is the main resistance area – if manage to close above most probably will attack 0.0068 POC. If not, might pull back to breakout level under 0.006
Mid term bullish. Long term depends on the market, but… pic.twitter.com/5WiBahvRrQ
— Zen (@WiseAnalyze) May 27, 2024
NOT social sentiment surged following the airdrop, and its current price increase has brought it back into the public eye. The project team recently compared Notcoin and Bitcoin, and NOT Airdrop Phase 1 was announced to commemorate this milestone. In a recent Twitter poll with 29,711 respondents, Notcoin was massively preferred over Bitcoin, which received 13.8% of the vote and 86.2% of the vote.
Limited supply
Wide distribution
Still cheap— Notcoin Ø (@thenotcoin) May 25, 2024
Notcoin Interest-Based Shoots
Over the last day, Open Interest increased from $44 million to $101 million, more than 40% higher than the price during the same period. This spike suggests that traders are eager to take long positions in the futures market, reflecting a robust positive mood.
The recent price surge also sparked a rush of brief liquidations, which raised prices even further. According to Coinalyze data, more than $4.4 million in short liquidations occurred the previous day.
NOT is now experiencing a bullish market mood due to the launch of a novel feature called “Earning Missions.” This functionality allows users to interact with partner projects and communities to earn NOT tokens passively.
Users can also increase their benefits by staking NOT; larger tiers yield larger payouts. This improvement makes the project much more appealing to potential and current investors.
