Altcoin
Notcoin, its anticipated airdrop impact on Toncoin: 27% rise in 7 days
Notcoin might soon airdrop NOT tokens and allocate them among 35 million players.
- Several popular platforms and exchanges have announced the listing of NOT.
- Meanwhile, Toncoin’s price surged by 27% in the last seven days.
Notcoin, a Telegram-based game, has recently emerged as a much-discussed topic in the crypto space as investors hope for an airdrop soon.
The possibility of that happening seemed likely as several popular platforms announced the listing of Notcoin.
Notcoin airdrop soon?
For the uninitiated, Notcoin is a game that has a user base of more than 35 million users. The game allows users to earn in-game coins on Telegram.
Earlier, the game’s officials announced their plan to launch a real-world token, NOT, for Notcoin players.
However, the airdrop was delayed for quite some time. But the latest developments suggest that the wait might end soon.
This seemed to be the case, as popular platforms like CoinMarketCap listed Notcoin.
Recently, ByBit also announced the listing of the NOT/USDT pair on its spot trading platform, further suggesting that the airdrop might happen soon. The listing will go live on the 16th of May.
The token will be launched on the Open Network (TON), which was developed by Telegram itself. Post-airdrop, 100% of the tokens will be allocated to Notcoin players who mined the coin.
Toncoin benefiting from Notcoin
While speculation and hype around NOT gained momentum, Toncoin [TON] quietly took the benefit as its price skyrocketed.
According to CoinMarketCap, the token’s price surged by more than 27% in the last seven days.
In fact, in the last 24 hours alone, the token’s value surged by over 5%. At the time of writing, TON was trading at $6.02 with a market capitalization of nearly $21 billion.
Notcoin’s popularity also had an impact on Toncoin’s social metrics. AMBCrypto’s analysis of Santiment’s data revealed that TON’s social dominance increased on the 9th of May.
Its social volume also remained relatively stable throughout the last week.
Source: Santiment
To determine whether this price uptrend was just a result of hype or was legitimate, AMBCrypto checked Santiment’s data.
We found that investors were actually buying TON. This was evident from the drop in its supply on exchanges and the rise in its supply outside of exchanges.
While the broader market kept accumulating, whales didn’t follow the trend. The big players actually sold tons as the supply held by top addresses declined.
Read Toncoin’s [TON] Price Prediction 2024-25
AMBCrypto then analyzed Toncoin’s daily chart to see whether this bull rally would last longer. As per our analysis, both TON’s Relative Strength Index (RSI) and Money Flow Index (MFI) registered upticks.
Its MACD also displayed a bullish crossover, hinting at a continued price rise. If the bull rally continues, then TON might once again reach its April high while players wait for Notcoin’s airdrop.
Source: TradingView
