A fresh surge of nearly 160% has propelled a new altcoin, associated with a viral game on the encrypted messaging platform Telegram, to reach all-time highs this week.
The altcoin, known as Notcoin, is specifically connected to the popular Telegram-based tap-to-earn mining game. It began trading on May 16th when Binance introduced support for the asset via its Launchpool platform. This platform enables users to stake coins in order to farm new assets.
Notcoin has already amassed over 1.6 million on-chain holders, surpassing other memecoins like Shiba Inu (SHIB), Bonk (BONK), and Pepe (PEPE).
The token is based on The Open Network (TON) blockchain, which was originally developed by Telegram. However, Telegram severed ties with the blockchain in 2020 due to a legal battle with the U.S. Securities and Exchange Commission (SEC). Following this, the management of the technology was taken over by The Open Network, an open-source community of developers. Despite the split, TON can still be sent by Telegram’s 700 million users within the platform, eliminating the need for lengthy wallet addresses.
Currently ranked 80th by market capitalization, the crypto asset is trading at $0.0127, up from $0.00489 just seven days ago.
