Crypto

Telegram's Notcoin Hits $1B FDV, $294M Volume in Debut

Notcoin debuts with $1B FDV on Ton Blockchain, marking a significant entry with $294M trading volume in its first hour.

By Max Weldon

5/16, 10:09 EDT
Bitcoin / U.S. dollar
article-main-img

Key Takeaway

  • Notcoin (NOT) debuts with a $1B FDV on Ton Blockchain, achieving $294 million in trading volume within the first hour.
  • Early adopters earned notcoin through Telegram-based game challenges, with in-game balances converted at a 1000:1 ratio.
  • The project incentivizes holding through staking mechanisms, allocating 3% to Binance Launchpool and 1.5% to OKX Jumpstart users.

Notcoin's Impressive Debut

Notcoin (NOT), a gaming token that has captivated more than 35 million users, made a striking entrance into the crypto market with a fully diluted value (FDV) of $1 billion. This remarkable debut was highlighted by an astounding $294 million in trading volume within the first hour of trading, as reported by CoinMarketCap. The token's journey began with its distribution through an airdrop and listing on several exchanges, attracting early adopters from January to April. These users engaged with the game via the Telegram app, earning notcoin by participating in various challenges. The conversion of in-game balances to notcoin was executed at a 1000:1 ratio, showcasing the project's strategic approach to integrating gaming with cryptocurrency.

Staking Mechanism and Token Allocation

In an innovative move to maintain the token's value and engage the community, Notcoin introduced a staking mechanism. This feature not only incentivizes airdrop farmers to hold onto their tokens but also offers them the opportunity to "earn extra rewards" and access more lucrative staking pools based on their game level. The token's maximum supply is capped at 102 billion, with a strategic allocation of 3% to Binance Launchpool users and an additional 1.5% reserved for OKX Jumpstart users. This allocation strategy demonstrates Notcoin's commitment to fostering a robust and engaged community around its gaming ecosystem.

Market Trends: Worldcoin and Render's Rise

Amidst a volatile market, Worldcoin (WLD) and Render (RNDR) have managed to secure double-digit gains, showcasing the dynamic nature of the crypto market. Worldcoin's resilience was evident as it bounced back from a monthly low of $4.18 on April 14 to trade at $5.46 on May 9, marking a 30.6% increase. This surge was propelled by the launch of World Chain and the surpassing of 5 million orb-verified World IDs. Render, too, demonstrated significant growth, rebounding from a low to trade at $10.36 by May 9, a 47.5% increase. The coin's visibility was boosted by its integration into Blender Cycles and its feature in Apple's Keynote, with NVIDIA's upcoming earnings call adding to the bullish sentiment.

Rebel Satoshi's $RECQ Presale and Market Advisory

The crypto market's attention has also turned to Rebel Satoshi's $RECQ presale, following the success of its $RBLZ presale, which raised over $2.5 million and delivered 150% returns to investors. Currently in Stage 2 at $0.0044 per token, $RECQ's presale promises substantial returns, drawing interest from investors of Worldcoin and Render. However, amidst the potential for high returns, the volatile nature of the crypto market poses inherent risks. Investors are advised to conduct thorough research and consider their financial situation before diving into new token launches or coins with small market capitalizations, which are more susceptible to liquidity and market risks.

Management Quotes

  • Sasha Plotvinov, founder of Open Builders:

    "It’s been an amazing few months. We’re extremely proud that Notcoin’s viral growth has introduced millions to crypto and TON’s ecosystem."