As attention turns to Dotcoin Hamster Kombat and Blum Notcoins value takes a steep dive
Notcoin prices continued their decline on Thursday, accompanied by a sharp drop in daily trading volume. Investor attention has now shifted towards alternative tap-to-earn apps on Telegram such as Hamster Kombat, TapSwap, and Yescoin.
On Thursday, NOT traded at $0.015, marking a nearly 50% decrease from its peak earlier this month. This downturn has caused its market capitalization to plummet from over $2.7 billion to $1.5 billion.
Data gathered by CoinGecko indicates that Notcoin’s trading volume across all exchanges fell from $945 million on Wednesday to $630 million. This decline represents the lowest volume observed since June 14 and suggests a slowdown in its previous hype.
Hamster Kombat’s user base eclipses that of Notcoin significantly. Recent figures show Hamster Kombat boasts over 150 million users, far surpassing Notcoin’s 40 million users. Similarly, TapSwap has seen its user count surge to over 54 million, while YesCoin has accumulated more than 11 million users. Other prominent tap-to-earn platforms on Telegram include Blum with 20 million users, Dotcoin with 15 million, MemeFi with 13.9 million, and BBQCoin with 9 million.
Notcoin and similar tap-to-earn platforms allow users to mine cryptocurrencies with a simple tap on their app interface. Over time, users typically convert these tokens into fiat currencies upon listing.
The rise of tap-to-earn networks can be attributed to their user-friendly interfaces and the vast user base of Telegram, which recently surpassed 900 million global users. Registration is straightforward, enabling users to start earning tokens immediately by tapping a button on the mini app. Additional tokens can be earned through activities such as inviting friends, liking social media pages, and participating in contests.
Tap-to-earn represents the evolution of blockchain gaming, an industry that saw significant growth during the pandemic before waning. Platforms like Decentraland, Sandbox, and Axie Infinity were once leaders in this space, seeing their tokens surge to multi-billion-dollar valuations before subsequently declining.
As such, the durability of Notcoin, Hamster Kombat, Dotcoin, and Blum in the market remains uncertain and warrants close observation.
