TON cryptocurrency NOTcoin Bottoms Around $0.0054 As Miners Book Profits, Whales Circle

cryptonews.com:

TON cryptocurrency NOTcoin, the brainchild of co-creator Sasha Plotvinov, launched on major centralized exchanges on 16 May last week to much fanfare – where is the coin price headed next?

The price spiked briefly, which saw the token gatecrash into the top 100 crypto with a market capitalization above $1 billion. However, two hours after the start of trading the price had fallen back to $0.0062.

Since then, the price has found a floor at around $0.0054 on the Binance exchange, after touching a low of $0.0051.

However, the price action is not as bad as it looks at first glance, given that the owners of the $NOT token had acquired their stash through mining a tap-to-earn token by playing the viral clicker game on Telegram.

The mined in-game token was used to claim the $NOT coin prior to the start of trading. Five million people claimed Notcoin within the first 36 hours of trading:

5 Million people claimed Notcoin in the first 36 hours after the listing.

4M deposited to exchanges or staked
1M claimed on-chain already

$743M Market cap

Vouchers
795k Notcoin Vouchers total:

530k converted to Notion
264k on the market (2.6% total supply) pic.twitter.com/4PpPLVLI2O

— Notcoin Ø (@thenotcoin) May 17, 2024

Originally envisaged as a way of introducing the masses to crypto, $NOT’s game walks the newbie through hooking up a TON-compatible crypto wallet, saving the seed phrase and then getting started with the clicks.

With billions of tokens in the bank, so to speak, players took advantage of the opportunity to sell at the list price of $0.009471. Trading volume in the first 24 hours reached $1.18 billion.

$TON currently has a market capitalization of $574 million, ranking it 121st out the the 9,961 tokens listed on Coinmarketcap.

All of this is not