Notcoins Value Jumps by 10 as Token Burn Initiates and a 42 Million Incentive Scheme Unfolds
Notcoin (NOT), a clicker gaming application based on play-to-earn model available on Telegram, experienced a notable surge of over 10% following the announcement made by its team about the significant burning of tokens and the introduction of lucrative incentives for users.
Currently, as of the time of this writing, NOT is being traded at $0.01572. The daily trading volume has shown an increase of 22% to $470 million. The market capitalization of the token has also risen by 10% to reach $1.6 billion, positioning it as the 56th largest cryptocurrency asset according to data sourced from CoinMarketCap.
The recent upsurge of Notcoin can be traced back to a key announcement made on June 25th where the team disclosed the burning of NOT tokens valued at $3 million. Additionally, a generous incentive plan amounting to $4.2 million was introduced to reward Gold and Platinum users of the Notcoin Explore platform.
This token burn forms a crucial part of Notcoin’s comprehensive strategy aimed at enhancing tokenomics and delivering value to its users. Through a reduction in the overall token supply, this popular tap-to-earn initiative is striving to establish scarcity, potentially boosting the token’s value and attractiveness.
Another possible factor driving the recent surge in Notcoin is the June 26th revelation that $2.5 billion worth of NOT tokens will be distributed to the Notcoin community in an ongoing airdrop. This airdrop is anticipated to surpass the combined values of airdrops by ZkSync and LayerZero.
Furthermore, the team highlighted that the peak value of the total airdrop stands at $2.5 billion for Notcoin, while ZkSync and LayerZero registered $954 million and $323 million, respectively.
Notcoin’s recent price hike coincides with a surge in “Tap2Earn” and similar tokens within the industry. Currently, the most trending options include Hamster Kombat and Yescoin.
A distinctive advantage for Notcoin lies in being the pioneer in the Telegram ecosystem. With the growth of the Open Network (TON) and the expanding user base of Telegram reaching 900 million, alongside increased crypto support on the platform, there is a rising interest and growth dynamic for Notcoin.
Significant metrics like TON’s daily active addresses have shown substantial growth over the past three months. This trend is likely to set the stage for similar advancements for Notcoin that extends beyond Tap2Earn for expansion opportunities.
