On June 3, according to CoinGecko market information, NOT’s 24-hour transaction volume on the entire network reached US$4.646 billion, ranking fourth after Bitcoin, Ethereum and USDT.
Among them, the trading volume of NOT/USDT on the Binance platform reached US$2.175 billion, accounting for 46.56% of the total trading volume of the token, and the trading volume of NOT/USDT on the OKX platform reached US$628 million, accounting for 13.45% of the total trading volume of the token. At the time of writing, the NOT price is $0.02.
NoneThreshold into skirt V:Tanzhangii
Whether NOT can continue its upward trend, this article will review Notcoin’s path out of the circle based on the timeline.
From telegram to Binance
NOT's pullback cannot be separated from the support of Binance. Perhaps as someone in the community said, "The Binance cartel is real." Most of the tokens supported by Binance will rise miraculously.
(Translator's Note: A cartel is a monopoly structure, and the author is actually alluding to potential manipulation of the market and the price of specific tokens)
Of course, NOT itself’s reduction in the circulating supply through the staking function, and the token destruction conducted by ecosystem projects are also one of the main reasons for its rise. Approximately 18 million NOT (approximately $350,000) were destroyed and permanently removed from circulation (reducing selling pressure). Crypto community member @CryptoStreamHub said that while this may not seem like much, investors may expect more burns in the future. After all, this is cryptocurrency and valuations do not necessarily have to be reasonable.
TON’s out-of-the-circle meme
In mid-November 23, the TON Ecosystem Exclusive Conference The Gateway was held in Dubai. The purpose of the conference was to bring cryptocurrency into everyone’s pocket by building Telegram Web3 super applications.
Notcoin debuted at a conference for over 500 crypto enthusiasts, developers and investors.
Although it belongs to the TON ecosystem, the relationship between Notcoin and TON goes beyond that. Sasha Plotvinov, the promoter of Notcoin, is the CEO of Open Builders, and the products of Open Builders basically overlap with the TOP organization of Andrew, the founder of the TON Foundation. It can be said that they are basically a group of people. This gives Notcoin a stronger endorsement.
After the conference, a small number of KOLs appeared to promote Notcoin in the tg group, and launched invitation rewards at the end of the month. After entering December, as TON Foundation founder Andrew tweeted, Notcoin began to gradually get on the right track. The beta version points will be cleared on January 1, 2024 with the release of the official version.
On the other hand, the meme pattern brought by Solana starting this year has given meme a certain ecological niche on the public chain. However, there is currently no Meme ecological niche on Ton, which also allows NOT to have a meme pattern on TON. As ACcapital founding partner @TeddyAC01 said, Notcoin brings traffic to Ton, and Ton tilts operational resources to Notcoin.
However, there have been many articles about "Can NOT meme help TON" before, and Notcoin officially stated that it has "never been just a meme coin"
Plan Binance early
After Andrew’s promotion, Notcoin cooperated with multiple projects. For example, points will be issued for holding a certain NFT, which largely enabled Notcoin to achieve the feat of 20 million users in 26 days. Therefore, Notcoin attracted the attention of Binance and launched a joint event on February 29,
Source: Community tg screenshot
Subsequently, Notcoin announced on April 12 that it had completed points mining after three months. On May 9, OKX Jumpstart launched NOT (Notcoin). TON holders can stake TON to mine NOT tokens, with a maximum stake of 4,000 TON per person.
On the same day, Binance launched the 54th phase of its new currency mining project, using BNB and FDUSD to mine Notcoin (NOT). Notcoin (NOT) was officially listed on May 16, and the NOT/BTC, NOT/USDT, NOT/BNB, NOT/FDUSD and NOT/TRY trading markets were opened.
More than "Tap-to-Earn"
Notcoin can essentially be said to be a game through "click mining", and this track is still in the niche stage. But on May 26, according to data from on-chain analysis agency Artemis, Aptos also achieved a single-day transaction volume of 95.6 million due to the "click mining" game Tapos, setting a new record for the single-day transaction volume of the L1 public chain.
In addition, with Notcoin’s invitation and team mechanism, the project also achieved viral marketing and became popular.
But Notcoin’s emergence from the circle does not only rely on new narratives. ACcapital founding partner @TeddyAC01 said when reviewing Notcoin’s exit process that Notcoin’s success cannot be replicated.
Since Notcoin is a user group that directly uses Telegram, Telegram can increase the cost of raising hair. In addition, Notcoin stated that it was “probably nothing” when it was announced, thus increasing Notcoin’s cost of raising money.
In addition, @TeddyAC01 also said that the market has determined that the divine disk cannot be copied. Web3 projects have extreme web economies of scale. Our market is a unified market, and the market divisions are not that big. The imitation market is directly facing the competition of the god market, and it cannot win or lose. If you win, the god market will collapse, and the imitation market will collapse. Now that we have reached the middle and late stages of the bull market, it will take half a year for the fake disk to develop like Notcoin, so there is no time.
According to Notcoin officials, it will next transform into a culture + ecosystem and launch a win-win subsystem. Among them, Notcoin Explore is one of them, and games and competitions will continue to explore.
Notcoin stated that some of these subsystems will be worked on and developed from day one (explorations have yielded great results so far). The main goal is to build working, value-added subsystems with the community over the next 4-5 years that are efficient enough to be fully autonomous and self-evolving. Of course, with Notcoin value at its core.
