crypto.news
Notcoin (NOT) has surged more than 11% in the past 24 hours, breaking above $0.021 as bulls hit a two-week high.
The Telegram-based game token’s price is likely to rally further amid fresh momentum for the related Toncoin (TON) coin, which hit a new all-time high on Friday to push 100% of addresses into profitability.
After surging double-digits, Notcoin’s market cap has reached $1.9 billion, ranking the recently launched coin of the viral tap-to-earn game 49th among largest cryptocurrencies by market cap. In comparison, VeChain (VET), Maker (MKR) and Optimism (OP) have all declined over the past 24 hours, dropping by 6%, 2% and 7% respectively.
With NOT signaling the potential for more gains, it’s possible that Notcoin flips VET, MKR and OP by market cap. All three coins have a market cap of just over $2 billion according to data from CoinMarketCap.
Notcoin’s 24-hour trading volume of $1.2 billion only lags that of Bitcoin, Ethereum, BNB, Solana and stablecoins USDT, USDC and FDUSD.
NOT price rose to an all-time high of $0.028 on June 2, although it retreated to $0.019 amid downside pressure across the broader crypto market.
Notcoin’s surge amid new Tap2Earn trend
The latest uptick in price for Notcoin comes as the industry witnesses a spike in “Tap2Earn” and related tokens. Currently, the top trending options include Hamster Kombat and Yescoin.
For Notcoin, the biggest pull is its first mover advantage in the Telegram ecosystem. Growth for The Open Network (TON) in the past few months has also reflected in Notcoin, with Telegram’s 900 million user base and increasing support for crypto on the platform fueling interest and growth.
Metrics such as daily active addresses for TON have risen sharply in the past three months. This trajectory is likely to drive similar trends for Notcoin, which is looking beyond Tap2Earn for growth.