Notcoin (NOT) is a cryptocurrency that has become trendy recently. Originating from a Telebram-based project, NOT has turned into a viral meme cryptocurrency with many traders watching it and trying to predict its future price movements to make a perfect bet on.
Just like another trendy cryptocurrency, TON, the native token of The Open Network, NOT started on the basis of Telegram app and its name is even spelled backwards from TON as you can see, in an attempt to pay homage to the blockchain and cryptocurrency built by Pavel Durov’s team but then given up over difficulties with the US regulatory agency SEC during the fund raising processes.
Game-Based Nature of Notcoin
NOT originally appeared in November 2023 in the form of a beta version within a closed Telegram community. Currently, NOT holds the 135th position by the size of its market capitalization – $512,018,427. Its total supply comprises 102,719,221,714 NOT with all of it already in circulation, according to CoinMarketCap data. The coin’s fully diluted market cap equals slightly more than $511 million.
The innovative cryptocurrency Notcoin was developed by the team led by Sasha Plotvinov at Open Builders – a community of maintainers and project leaders created to enable developers to build open source software. In particular, to create small projects not backed by any large investors or corporations. The goal of Open Builders is to enable participants to share knowledge with each other, accelerate learning and boost their developer skills together.
Notcoin was designed with a goal of bringing together average Internet users and cryptocurrency. To simplify this process, the developers made this entry a simple one and removed entry barriers. To begin with, they built a viral clicker game that was integrated with the Telegram messaging app, using the TON blockchain that was first built by Telegram founder Pavel Durov and his team but then taken over by developers who formed the TON Foundation.
The game quickly gained traction with users thanks to its features that stimulated user engagement and urged players to be competitive. This resulted in the game appealing to millions of users, who came to join NOT thanks to referrals and by means of organic growth.
The app currently boasts more than 35 million users and about 6 million daily active ones who play by completing game tasks in a mini application based on Telegram and then tapping an icon to earn NOT coins this way – this is how its click-to-mine system works. You could play on your own or with a team of friends. The millions of users were attracted by the developers without any public campaign organized for this.
At present, the Notcoin developer team is busy ensuring a transition to on-chain activities and enlarging its user base, going beyond its current user count. The developers are also rolling out new features that are expanding the game format to keep user engagement and give it a major boost.
The mining phase of the game came to an end in April and users then were enabled to change the in-game Notcoins for actual NOT tokens at a 1,000:1 rate. This resulted in NOT trade launches on such leading cryptocurrency exchanges as Bybit, Binance and OKX.
On May 21, NOT was integrated into the Wallet in Telegram and thus it became exposed to hundreds of millions of users on this crypto-oriented social media platform.
Notcoin’s Recent All-Time High
Approximately 78% of the total NOT supply (102.7 billion) is held by NOT miners and the Binance Launchpool holds roughly 3% NOT. A NOT ecosystem fund now has in its possession 9% of the token supply, the NOT developers hold 5% of it. Another 5% has been set aside for community incentives.
On May 16, NOT reached its first all-time high, soaring to the $0.01445 price mark. Since then, during less than a week, the coin’s price has collapsed by 65.87% and at press time NOT is trading at $0.004966 after a 5.30% daily decline.
NOT Price Prospects
Since debuting the NOT price has been through massive volatility. Launching into trading between $0.01078 and $0.001445, the coin’s exchange rate against the USD then stabilized roughly at $0.005. Such a tremendous price fluctuation befalls all new coins when they begin trading after launch. This circumstance is often caused by them facing small liquidity at the start and the fact that early airdrop recipients begin selling these coins actively, putting a heavy selling pressure on them.
Multiple analysts have estimated the prospects of NOT in the market and believe that by the end of 2024, the coin may go as high as $0.0145 – basically, recovering the all-time high and surging a little higher. Many experts also believe that thanks to NOT’s integration with Telegram and great exposure to the cryptocurrency community through this app, over the next three years the price prospects for NOT look most favorable.
