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Notcoin Surges 330% in One Week, Nearing Entry into the Top 50 Cryptos
- GameFi token Notcoin has exploded by 330%+ in less than a week of trading, closing in upon top 50 coins by market cap.
- Trading volume, community hype and Notcoin’s active player base have all grown since the NOT token launch two weeks ago.
- The game is an idle clicker constantly under development, just recently adding an “earning mission” function that further boosted the NOT token’s usefulness.
Alright, take a breath NOT hodlers – that was a week to remember.
Like most new tokens, it’s been a volatile first few weeks of trading for Notcoin. The popular cryptocurrency fell significantly immediately following its release, and continued to sit in the red for the next fortnight.
But the despair was short-lived, and in seven days of mayhem, the price of NOT catapulted to over US$0.02 (AU$0.03), representing weekly gains of 330%. So what’s behind the meteoric price rise, and is it sustainable?
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Notcoin Passes 35 Million Users
NOT is the native token of the Web3 clicker game Notcoin. For those unfamiliar with clicker games, they more or less live up to their genre title – you “click” (passively or actively) to earn in-game currency. This is then used to purchase upgrades to your clicking capabilities, thus earning you more in-game currency, and so on.
Not exactly riveting, but the “number goes up here’s some dopamine” gaming model is admittedly quite addictive and has been rather successful.
With the GameFi sector ramping up, it’s the perfect time for even a simplistic game like Notcoin to begin penetrating the masses.
There’s nothing too specific driving the Notcoin surge. Rather, several factors have contributed to an ever-growing ball of hype and momentum. Predominantly, NOT has been listed on major centralised exchanges over the past fortnight since launch – such as Binance and Coinbase. This is always a big deal for new tokens, as it legitimises their project and opens the doors for a new demographic of investors.
The game itself, which has attracted well over 30 million players, is continuing to grow and develop alongside the coin. Recently, Notcoin launched a slate of new quests that allowed greater interaction between the game and its native token.
The tokenomics of NOT are constantly under interrogation, with a new staking and burning mechanism restricting supply and increasing short-term demand.
Naturally, gains of 300% are unsustainable. But NOT is quickly rising through the crypto market, and the sector might be poised to anoint the new king of GameFi – at least for now.
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Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
