Notcoin’s NOT Token Launches with Massive Airdrop

Notcoin made headlines on Thursday by debuting its NOT token on The Open Network (TON). This significant launch follows more than four months after the game initially launched on Telegram. The massive airdrop has led to the largest gaming token launch of 2024, with over a billion dollars in trading volume within hours.

The NOT token is currently trading at approximately $0.0076, as per data from CoinGecko. With a total supply of 102.7 billion tokens, the current market cap stands at around $776 million. The entire supply was minted right from the start, allowing around 35 million players to claim their NOT tokens from playing the game. Additionally, Notcoin initiated staking rewards campaigns through Binance and OKX earlier this week.

Despite the initial excitement, the token’s price has experienced significant volatility. Both CoinGecko and CoinMarketCap show a steep decline in the token price shortly after launch, as more players claimed and sold their tokens. According to CoinGecko, the price peaked at $0.0215 before plummeting by 65%, whereas CoinMarketCap recorded a lower peak at $0.0144 with a 48% drop.

These discrepancies also reflect in the estimated peak market cap. CoinGecko reports a peak of $2.21 billion, while CoinMarketCap shows a peak above $1.48 billion. Regardless of these differences, Notcoin’s launch stands out as the largest gaming token debut of the year. The runners-up include Pixels (PIXEL), with a peak market cap of $731 million, and Saga (SAGA), peaking at $684 million.

In terms of trading volume, Notcoin has already surpassed the billion-dollar mark. CoinMarketCap reports approximately $1.07 billion in trading volume, making it the 14th most-traded coin over the last 24 hours. This extraordinary trading volume highlights the significant interest and activity surrounding the NOT token.

The volatile pricing and trading activity are not uncommon for new crypto tokens, especially with limited liquidity in the early stages. While the initial surge and subsequent drop are notable, the long-term performance of the NOT token will depend on its adoption and utility within the gaming community and broader crypto market.

Notcoin’s NOT token launch has set a new benchmark for gaming tokens in 2024. The impressive airdrop, coupled with substantial trading volumes, underscores the potential and interest in gaming-related crypto assets. As the market continues to evolve, it will be interesting to see how Notcoin navigates this early volatility and builds on its initial success.