Altcoin
Notcoin (NOT) plunges 39% from its all-time high after listing
Notcoin (NOT), the native token of the viral game Telegram, has seen a significant decline, trading 39.19% below its all-time high reached in 15 days after the token’s listing on Binance, the largest cryptocurrency exchange in the world by trading volume.
The digital asset has declined by 18.63% in the last 24 hours and is currently trading at $0.0166, marking a decline of 6.06% in the last seven days.
24-hour NOT/USD price chart (Source:coinmarketcap)
Despite the recent downturn, Notcoin has shown notable growth over the past month, with an increase of 160.95% positioning it as one of the best performing digital assets in recent weeks.
The token’s trading volume has seen a 22.24% decline and currently ranks 49th by market capitalization, with a value of $73.81 billion. If the selling pressure persists, the altcoin could fall out of the top 50 cryptocurrencies.
According to a post on social media platform
The complaint is over 👏
A month ago Notcoin was listed and has become a true community token, owned by you and people like you.
So far, Notcoin has 11.5 million holders: they have claimed tokens, staked, sent to exchanges, or withdrawn onchain.
Most of the drop has already been distributed,… pic.twitter.com/MyNp4h6FWB
— Notcoin Ø (@thenotcoin) June 17, 2024
The Notcoin team also announced that there are extra rewards for staking at the Gold and Platinum levels in the game details that will be disclosed this week.
Some market observers attribute the price collapse to users requesting and selling tokens after a month of staking. However, they note that sales volume remains relatively low compared to previous purchase volumes.
Despite the current recession, some members of the community see this as a potential buying opportunity and anticipate a market rebound and possible new all-time highs for the NOT in the future.
Read also: Notcoin (NOT) rises 440% in the week and reaches an all-time high