The price of Notcoin (NOT), a Telegram play-to-earn clicker game app, has dropped around 55% since gaining listings on well-known cryptocurrency exchanges.
According to CoinMarketCap data, NOT is currently trading at $0.0066, having dropped by 54.50% as of this writing. The token’s trading volume of $1.35 billion and the market cap have fallen to $661 million.
Launched on January 1st, Notcoin is a web3 gaming project on The Open Network (TON) ecosystem. It functions inside of Telegram and lets users earn coins through a variety of activities and a single tap.
The mining phase of the game concluded on April 1. The NOT token was originally scheduled to launch on April 20 to correspond with the Bitcoin halving, but the Notcoin team postponed the launch twice to make sure everything went according to plan.
Various cryptocurrency exchanges, including Binance, OKX, KuCoin, and Bybit, announced that they would be adding the token to their platforms. Following these announcements, NOT has gained a lot of attention.
Notcoin started trading at a fully diluted valuation (FDV) of over $1 billion just a few hours after the airdrop debut on May 16 after being distributed across multiple exchanges.
Despite adding 35 million users, the token’s value dropped precipitously after making $294 million in its first hour of trading. A 55% crash was caused by airdrop farmers selling off tokens.
