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Notcoin rises 11%, almost becomes VET, MKR and OP
Notcoin (NOT) is up over 11% in the last 24 hours, surpassing $0.021 as bulls hit two-week highs.
The price of the Telegram-based gaming token will likely rise further amid a new boost for related coin Toncoin (TON), which hit a new all-time high on Friday to push 100% of addresses into profitability.
After rising double digits, Notcoin’s market capitalization has reached $1.9 billion, ranking the recently launched coin from the viral tap-to-earn game 49th among the largest cryptocurrencies by market capitalization. In comparison, VeChain (VET), Maker (MKR), and Optimism (OP) have declined over the past 24 hours, dropping 6%, 2%, and 7%, respectively.
With NO signaling the potential for further gains, it is possible for Notcoin to flip 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 is behind only Bitcoin, Ethereum, BNB, Solana and the 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 downward pressure across the broader crypto market.
Notcoin’s Rise Amid New Tap2Earn Trend
The latest spike in Notcoin price comes as the industry witnesses a surge in “Tap2Earn” and related tokens. Currently, the top trending picks include Hamster Kombat and Yescoin.
For Notcoin, the biggest attraction is its first-mover advantage in the Telegram ecosystem. The growth of The Open Network (TON) in recent months has also been reflected in Notcoin, with Telegram’s 900 million user base and increased crypto support on the platform fueling interest and growth.
Metrics such as daily active addresses for TON have risen sharply over the past three months. This trajectory will likely drive similar trends for Notcoin, which is looking beyond Tap2Earn for growth.