Cryptocurrencies continue to be in the center of attention of the financial world, and a lot of new projects and initiatives are emerging in their background. One such project was Notcoin, which attracted the attention of both crypto enthusiasts and investors. In addition to trading a new token, crypto exchanges offer other services that allow you to get additional profits. In this article, we will get to know the token better and also consider alternative ways to get profit with the help of Notcoin.

Understanding Notcoin's Market Performance

In early June, the average market rate of the Notcoin cryptocurrency peaked at $0.028, as reported by CoinMarketCap. This value is nearly three times the token's trading price just minutes after its listing on cryptocurrency exchanges on May 16. Major platforms such as Binance, OKX, and Bybit facilitate Notcoin trading.

In July 2024, Notcoin climbed into the top 100 cryptocurrencies by market capitalization, with its daily trading volume hitting $1.5 billion. This surpasses the 24-hour transaction volumes of popular coins like Pepe, Dogecoin, Binance Coin, and XRP.

Remarkably, less than two months have passed since Notcoin was listed on crypto exchanges, with the application itself launching in early January 2024. The user base has grown to over 35 million, with notable endorsements including Telegram's founder, Pavel Durov, highlighting the project's success.

In the future, the following factors may have a significant impact on the value of Notcoin:

Market trends. Positive trends in the cryptocurrency market, such as a bull market, may contribute to an increase in the value of Notcoin.
Investors' interest. Increased demand from large and retail investors might lead to an increase in its price.
Technical development and updates. The introduction of new features and improvements to the blockchain may increase interest and consequently increase the value of the token.
Collaboration and partnerships. Establishing strategic partnerships with other projects and platforms can increase visibility and trust, which has a positive impact on the value of the asset.
Regulatory impact. Political and regulatory changes in major economies can also have an impact on the price.

What is Notcoin: History and Development

In November 2023, the TON Foundation organized The Gateway conference in Dubai, which featured developers of applications for Telegram, including the international team Open Builders. At this event, Notcoin was first introduced, and within the following two months, it attracted 0.5 million users, with its official launch occurring in January.

The company claims that not a single dollar was spent on advertising the project. Its growth is driven solely by the engagement and interaction of messenger users. However, it's important to note that the number of users is not verified. An individual can have multiple Telegram accounts, and each account counts as a separate user in Notcoin.

The developers offset some of their expenses through a specific mechanism: users can join "squads." The game includes a feature for paid promotion of a squad on a particular page. These payments have allowed the project to cover server infrastructure costs for several months in advance.

Traditional Clicker Game Mechanism

Clicker games are the simplest approach to obtain tokens. The user received coins as payment for this. Enabling a bot to click on the screen automatically was another option. Additionally, the player may apply unique "boosts" to raise the amount of money they received with each click.

Inviting new players to the Notcoin game was another method of earning coins. Compared to other players, Telegram Premium subscribers received many times more coins. The invited user will provide coins to the person whose referral link he used by upgrading.

Simple actions can earn you hundreds of thousands of coins. It might be connected to joining a Telegram channel or an X account, for instance, or to connecting the program to your cryptocurrency wallet located within the Telegram network.

After the launch of the Notcoin blockchain, developers began to gradually reduce token issuance by "burning" tokens - sending them to a non-existent address.

Alternative Earning Methods on Exchanges

Before the listing, major crypto exchanges launched Notcoin staking. Specifically, on May 13, OKX Jumpstart users could stake The Open Network (TON) tokens to earn NOT. This promotion lasted until the altcoin started trading on May 16.

Post-Listing Staking

After the listing, OKX users could stake Notcoin directly through the "Simple Earn" feature, offering an annual yield of 1%. The platform hosts a variety of cryptocurrencies, with the highest yield being 64% annually for BLOCK. However, it’s crucial to understand the risk of the underlying asset's value dropping, which could offset staking yields and even result in losses.

Trading

A more traditional approach with Notcoin is trading on the exchange. On OKX, the cryptocurrency is paired with the stablecoin USDT. This function allows traders to profit from the asset's high volatility. For example, last week, the altcoin's price doubled after previously halving over a similar period. However, such price fluctuations also bring heightened risks of financial loss.

Conclusion

Notcoin is a promising and ambitious project that has the potential to significantly influence the development of the crypto market. The introduction of new technologies and approaches, the creation of an active community and integration with various services make Notcoin interesting for both investors and ordinary users. Watching the development of this project, we can expect new opportunities and changes in the world of cryptocurrencies.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Don’t miss our new articles!

Share on: