Notcoin (NOT) Surges 10% as Team Burns $3M Worth of Tokens, Offers Millions in Incentives

Notcoin (NOT), a play-to-earn clicker gaming application on Telegram, has surged over 10% as its team announced the burning of a colossal amount of tokens and offered millions in incentives to users.

Notcoin(NOT), the play-to-earn clicker gaming application on Telegram, has seen a surge of over 10% as its team announced the burning of a massive quantity of tokens and offered millions in incentives to users. At press time, NOT was trading at $0.01572, with a 22% increase in daily trading volume, reaching $470 million. The token also saw a 10% rise in market capitalization, now valued at $1.6 billion and ranking 56th among cryptoassets, according to CoinMarketCap.

The Notcoin token burn was announced on June 25 with an X update, revealing that the company had burned NOT tokens to the tune of $3 million. The update also announced a $4.2 million incentive plan to reward Gold and Platinum users of the Notcoin Explore platform.

The token burn is part of Notcoin's multi-faceted strategy to enhance tokenomics and create value for users. By reducing the overall supply, the popular tap-to-earn project aims to create scarcity, potentially increasing the token's value and appeal.

In another development, Notcoin announced on June 26 that $2.5 billion in NOT tokens will be allocated to the Notcoin community. The ongoing airdrop is reportedly larger than those combined by ZkSync and LayerZero. According to the team, the total airdrop value at an all-time high was $2.5 billion for Notcoin, compared to $954 million for ZkSync and $323 million for LayerZero.

Notcoin flourishes amidst Tap2Earn surge

The recent price surge of Notcoin comes amidst a broader rise in "Tap2Earn" and similar tokens within the industry. Currently, among the top trending options are HamsterKombat and Yescoin. For Notcoin, its status as the first mover within the Telegram ecosystem provides a key advantage. The Open Network (TON) has seen growth in recent months, and with Telegram's 900 million user base and increasing support for crypto on the platform, interest and adoption have been fueled. Metrics such as TON's daily active addresses have seen a substantial increase over the past three months. This trajectory is likely to inspire similar patterns for Notcoin, which is looking beyond Tap2Earn for expansion.

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