Bittime – Notcoin (NOT), a click-based play-to-earn gaming app on Telegram, has seen its price drop by 55% after getting listed on various major crypto exchanges.
Proyek Tap to Earn Notcoin (NOT)
This web3 game project was launched on January 1 in The Open Network (TON) ecosystem. Notcoin operates as a mini-app within Telegram, allowing users to earn coins by simply tapping their phone screen. Income can be increased through various additional activities.
Mining Cessation and Launch Delay
The game's mining phase ends on April 1. Initially, the Notcoin team planned to launch the NOT token on April 20 to coincide with the Bitcoin halving, but the launch was delayed twice to ensure a smooth launch.
Also Read : Notcoin (NOT) Launch Postponed, Here's Leaked Information!
Check Today's Crypto Market:
Launchpad NOT Announcement on Major Exchanges
NOT has gained a lot of attention in recent weeks, following announcements from crypto exchanges such as Binance, OKEx, KuCoin, and Bybit that they would add the token to their launchpads.
FDV Has Reached $1 Billion
After distribution across multiple exchanges, Notcoin began trading at a fully diluted valuation (FDV) of over $1 billion just hours after its airdrop debut on May 16.
Also Read: Just Released, Notcoin Records $1 Billion FDV!
Trading Volume Almost Touches $300!
The token generated a trading volume of $294 million in its first hour of trading. However, despite reportedly attracting 35 million users into its ecosystem, the gaming token is starting to experience a sharp decline. As airdrop recipients continued to sell their tokens, NOT saw a 55% decline.
Sell-off Pattern After Airdrop Distribution? Common Things in Crypto!
NOT's drop mirrors the pattern of many other crypto airdrops, which often see massive sell-offs after launch. On October 20, Layer-1 blockchain Aptos saw their native coin, APT, fall rapidly after a 20 million coin airdrop.
Similarly, SocialFi project friend.tech experienced a 98% price drop for their FRIEND token immediately after its debut on May 3.
Also Read How To Buy Crypto:
Can NOT Token Revive the Gaming Token Category?
Many hoped NOT would spark a revival in the gaming token category, but it is currently performing below expectations. Gaming tokens have generally underperformed in 2024, especially compared to other trending categories such as AI and meme tokens.
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Read Also:
Notcoin (NOT) Price Prediction: How much price can it reach?
Notcoin: Telegram Based Crypto Game Already on CoinMarketCap
Notcoin (NOT) Price Prediction 2024: Will it Sustain Above $1?
Notcoin (NOT) Price Falls 50% After Launching on Crypto Exchanges: Can It Still Rise Again?
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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