Bittime - Notcoin (NOT) will finally launch in 2024 on various well-known crypto exchanges. These include Binance, OKEx, Bybit, and others. However, after the launch, the price of Notcoin immediately fell 50%. Can this token rise again? Check out this article to find out.
Notcoin was originally a community token that invited users to get to know Web3 through "tap-to-earn" games in the Telegram application. This token operates on the TON blockchain, Telegram's native blockchain, and has a structure like a meme coin, making it unique compared to other cryptocurrencies.
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Splashy Trading Start: Notcoin Hits $725 Million in Volume in First Hours
The project was originally planned for release on April 20, shortly after the "mining" (tap) program ended and coinciding with the Bitcoin halving event. However, the launch date was pushed back, and $NOT can only be traded now.
Also read: What is the Impact of Delaying Notcoin (NOT) Deposits?
The Notcoin project immediately attracted the attention of many people, making its market capitalization soar above $1 billion. This fantastic figure ranks it 93rd among all crypto assets.
The distribution of token airdrops to millions of users on the largest centralized exchanges played a big role in this rapid success.
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According to CoinMarketCap, the token generated $725 million in trading volume in the first three hours.
Can Notcoin (NOT) Overcome Selling Pressure?
The main concern regarding the Notcoin ($NOT) token is its majority ownership (over 70%) by the community. This has the potential to create significant selling pressure, and Notcoin Market Maker must have enough liquidity to buy back the selling wave.
Also read: Notcoin (NOT) Launch Postponed, Here's Leaked Information!
Selling pressure has started to impact the asset's value, causing it to plummet more than 50% from a peak of $0.014 to around $0.0067, despite launching at a pre-market price of $0.01. As a result, its market capitalization fell to $673 million.
Looking at historical data, NOT token may continue to fall as selling pressure increases. For example, Blur, another popular crypto project which held an airdrop in February 2023.
Initially, the price of Blur (BLUR) spiked to $45.98 on February 13, 2023, but then plunged 99.2% to just $0.36.
On the other hand, experts and some community members (around 0.44% of the world's population) who support the Notcoin project, as well as large investors, may buy, stake and lock tokens in DeFi protocols.
We may still see price declines in the coming days, but it is unlikely to take 2-3 months to recover.
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However, since the project has just launched on crypto exchanges, its future performance will depend on various factors in the coming days and weeks.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
3 Crucial Things Ahead of the Notcoin Token (NOT) Release
Just Released, Notcoin Records $1 Billion FDV!
Notcoin: Telegram Based Crypto Game Already on CoinMarketCap
Notcoin (NOT) Price Prediction 2024: Will It Sustain Above $1?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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