- Several popular platforms and exchanges have announced the listing of NOT.
- Meanwhile, Toncoin’s price has risen 27% over the past seven days.
Notcoin, a Telegram-based game, has recently emerged as a hot topic in the crypto space as investors hope for an airdrop soon.
The possibility of this happening seemed likely when several popular platforms announced the listing of Notcoin.
No airdrop soon?
For the uninitiated, Notcoin is a game with a user base of over 35 million users. The game allows users to earn in-game coins on Telegram.
Previously, the game’s officials announced their plan to launch a real-world token, NOT, for Notcoin players.
However, the airdrop was postponed for quite some time. But the latest developments suggest the wait could end soon.
This seemed to be the case, as popular platforms like CoinMarketCap mention Non-coin.
Recently also ByBit announced the listing of the NOT/USDT pair on its spot trading platform, further suggesting that the airdrop could happen soon. The listing will go live on May 16.
The token will be launched on the Open Network (TON), which was developed by Telegram itself. After the airdrop, 100% of the tokens will be allocated to Notcoin players who mined the coin.
Toncoin benefits from Notcoin
As speculation and hype surrounding NOT gained momentum, Tonmint [TON] quietly took advantage as the price skyrocketed.
According to CoinMarketCapthe token’s price has risen by more than 27% in the past seven days.
In the last 24 hours alone, the value of the token has increased by more than 5%. At the time of writing, TON was trading at $6.02 with a market cap of almost $21 billion.
Notcoin’s popularity also affected Toncoin’s social metrics. AMBCrypto’s analysis of Santiment’s data revealed that TON’s social dominance increased on May 9.
Social volume also remained relatively stable over the past week.
Source: Santiment
To determine whether this price increase was just the result of hype or was legitimate, AMBCrypto checked Santiment’s data.
We found that investors actually bought a TON. This was clearly evident from the decrease in supply on exchanges and the increase in supply outside the exchanges.
While the broader market continued to grow, whales did not follow the trend. The big players even sold tons because the supply of the top addresses decreased.
Source: Santiment
Read Toncoins [TON] Price prediction 2024-25
AMBCrypto then analyzed Toncoin’s daily chart to see if this bull rally would last longer. According to our analysis, both TON’s Relative Strength Index (RSI) and Money Flow Index (MFI) registered an increase.
The MACD also showed a bullish crossover, indicating continued price appreciation. If the bull rally continues, TON could reach its April high again as players wait for Notcoin’s airdrop.
Source: TradingView