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Notcoin Token Launch Airdrop on The Open Network
More than four months after the game launched via messaging app Telegram, Notcoin debuted its NOT token on Thursday through The Open Network (TON). This airdrop resulted in the largest gaming token launch of 2024 so far, generating over a billion dollars worth of trading volume.
The current trading price of the NOT token stands at approximately $0.0076, as reported by CoinGecko, giving it a market capitalization of around $776 million with the entire supply of 102.7 billion tokens minted from the start.
Through playing the game, 35 million players were able to claim NOT tokens, and Notcoin initiated staking rewards campaigns via Binance and OKX earlier in the week. Following the launch, both CoinGecko and CoinMarketCap observed a decline in the token price as more players claimed and sold their tokens on the market.
While CoinGecko reported a peak price of $0.0215, CoinMarketCap indicated a lower peak at $0.0144. This disparity in pricing analysis is common for new crypto tokens due to limited liquidity, leading to volatile price fluctuations at the initial stages.
The differences in the reported peak price also affected the estimated market cap of the NOT token, with CoinGecko suggesting a peak of $2.21 billion, while CoinMarketCap states it exceeded $1.48 billion. Despite these variations, Notcoin ranks significantly higher than competitors in terms of market cap for gaming token launches in 2024.
Additional gaming tokens like Pixels (PIXEL) and Saga (SAGA) reached market cap peaks of $731 million and $684 million, respectively. Notcoin’s trading volume quickly surpassed the billion-dollar mark within a few hours post-launch, making it the 14th most-traded coin by volume in the past 24 hours according to CoinMarketCap.
Conclusion
Notcoin’s NOT token launch on The Open Network has been a significant event in the gaming token landscape of 2024, demonstrating strong interest and participation from players and traders alike. The airdrop and subsequent trading activity have propelled Notcoin to the forefront of the industry, setting a high standard for future gaming token launches.
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