The cryptocurrency market experienced a significant shift as Notcoin, a rising star in the cryptocurrency universe, saw a notable drop of 11% in its price after the conclusion of the NOT airdrop claim. Despite this decline, Notcoin remains a prominent player, boasting a market capitalization of $1.8 billion, positioning it as larger than well-known projects like Aave (AAVE), Jupiter (JUP), and the much-anticipated Ethereum L2 solution, zkSync (ZK).
The Notcoin Airdrop Aftermath
The Notcoin team has revealed that the platform now has a staggering 11.5 million holders, with at least 2.5 million of them being on-chain. The team attributes the majority of the price drop to the distribution of the claimed tokens, stating that “most of the drop was distributed already.” However, the team assured us that the unclaimed tokens would be utilized for future development, with a portion being burned.
“Most of the drop was distributed already,” the team wrote on Twitter early this morning, adding that “unclaimed tokens will be put into the future development, part will be burned.”
The claim is over 👏
A month ago Notcoin was listed and became a real community token, owned by you and people like you.
So far, Notcoin have got 11.5M holders: they've claimed tokens, staked, sent to exchanges or withdrawn onchain.
Most of the drop was distributed already,… pic.twitter.com/MyNp4h6FWB
— Notcoin Ø (@thenotcoin) June 17, 2024
The Rise and Success of Notcoin
Notcoin has experienced a remarkable surge, trading 166% higher than its initial launch price just a month ago. This growth can be attributed to the success of the crypto-fueled games on the popular messaging app Telegram, which has been a significant driver for the Notcoin ecosystem.
The Notcoin team has also announced that they will provide details later this week on how gold and platinum-level stakers can earn additional rewards, further incentivizing engagement within the platform.
The Telegram Gaming Ecosystem
Notcoin is not the only Telegram-based game making waves in the cryptocurrency industry. Other projects, such as Hamster Kombat, have also announced plans for token launches. Hamster Kombat, a mobile clicker game that casts the player as a crypto exchange CEO, has revealed its intention to launch a TON token next month.
Additionally, fellow Telegram mini-app games, Yescoin and TapSwap, have stated that they are planning to launch their own tokens on The Open Network.
As the cryptocurrency market continues to evolve, industry observers remain keenly interested in the impact of Telegram-based gaming platforms and their associated tokens on the broader ecosystem.
