The market value increased by 2 billion US dollars in one week. Review of NOT's "large-scale wealth creation" action

On June 3, according to CoinGecko market information, NOT's 24-hour network trading volume reached $4.646 billion, second only to Bitcoin, Ethereum and USDT, ranking fourth in the network's trading volume.

 

Among them, the NOT/USDT trading volume on Binance platform reached $2.175 billion, accounting for 46.56% of the total trading volume of the token, and the NOT/USDT trading volume on OKX platform reached $628 million, accounting for 13.45% of the total trading volume of the token. As of writing, the price of NOT is $0.02.

 

 

Can NOT continue to rise? In What factors drove the surge of NOT? 》 summarizes the views of other researchers. This article will review Notcoin's path out of the circle from the timeline.

 

From telegram to Binance

 

NOT's pull is inseparable from Binance's support. Perhaps, as some people in the community say, "Binance Cartel is real", most of the tokens supported by Binance will magically rise.

 

(Translator's note: Cartel is a monopoly structure, the author actually alludes to the potential manipulation of the market and the price of specific tokens)

 

Of course, NOT itself reduces the circulating supply through the staking function, and the token destruction carried out by the ecosystem project party is also one of the main reasons for its rise. About 18 million NOT (about 350,000 US dollars) were destroyed and permanently withdrawn from circulation (reducing selling pressure). Crypto community member @CryptoStreamHub said that although this does not seem to be much, investors may expect more destruction in the future. After all, this is a cryptocurrency, and the valuation does not have to be reasonable.

 

TON's out-of-circle meme

 

In mid-November 23, the TON ecosystem exclusive conference The Gateway was held in Dubai. The theme of the conference was to bring cryptocurrency into everyone's pocket by building Telegram Web3 super applications.

 

Notcoin made its debut at the conference for more than 500 crypto enthusiasts, developers and investors.

 

Although Notcoin is part of the TON ecosystem, the relationship between Notcoin and TON goes beyond this. Notcoin's promoter Sasha Plotvinov is the CEO of Open Builders, and the products under 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 in the tg group to promote Notcoin, and an invitation reward was launched at the end of the month. After entering December, with the promotion of Andrew, the founder of the TON Foundation, Notcoin began to gradually get on the right track, and the beta version points were cleared on January 1, 2024 with the release of the official version.

 

 

On the other hand, the meme pattern brought by Solana since this year has given memes a certain ecological niche on the public chain, while there is no meme ecological niche on TON at present, 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 its operating resources towards Notcoin.

 

However, there have been many articles about "Can NOT meme help TON", and Notcoin officials said that they "have never been just a meme coin"

 

 

Early layout of Binance

 

After Andrew's promotion, Notcoin cooperated with multiple projects, such as holding a certain NFT will issue points, which largely enabled Notcoin to achieve 20 million users in 26 days. As a result, Notcoin attracted the attention of Binance and launched a joint event on February 29,

 

Image source: community tg screenshot

 

Subsequently, Notcoin announced on April 12 that it had completed the point mining in three months. On May 9, OKX Jumpstart launched NOT (Notcoin), and TON holders could stake TON to mine NOT tokens, with a maximum of 4,000 TON per person.

 

On the same day, Binance launched the 54th project of new coin mining, using BNB and FDUSD to mine Notcoin (NOT), and officially listed Notcoin (NOT) on May 16, and opened NOT/BTC, NOT/USDT, NOT/BNB, NOT/FDUSD and NOT/TRY trading markets.

 

More than "Tap-to-Earn"

 

Notcoin is essentially a game of "click mining", and this track is still in the niche stage. But on May 26, according to the data of Artemis, an on-chain analysis agency, Aptos also created 95.6 million daily transactions due to the "click mining" game Tapos, breaking the historical record of L1 public chain daily transactions.

 

 

In addition, Notcoin's invitation and team mechanism also made the project popular through viral marketing.

 

But Notcoin's popularity is not only based on new narratives. ACcapital founding partner @TeddyAC01 said in reviewing Notcoin's success that Notcoin's success cannot be replicated.

 

Because Notcoin is a user group that directly uses Telegram, Telegram can increase the cost of making money. In addition, Notcoin said that it was "probably nothing" during its promotion, which raised Notcoin's cost of making money.

 

 

In addition, @TeddyAC01 also said that the market determines that the God disk cannot be copied. Web3 projects are extremely network-scale economies. Our market is a unified large market, and the market segmentation is not that large. Copycats are directly competing with God disks, and they cannot win or lose. If they win, the God disk will collapse and copycats will collapse. Now it is in the middle and late stages of the bull market. Copycats need to develop for half a year like Notcoin. There is no time.

 

According to Notcoin officials, it will shift to a culture + ecosystem and launch win-win subsystems. Among them, Notcoin Explore is one of them, and games and competitions will continue to explore.

 

Notcoin said that some of these subsystems will start working and developing from day one (so far, exploration has achieved great results). The main goal is to build sufficiently effective working and value-added subsystems with the community in the next 4 to 5 years to make them fully autonomous and self-developed. Of course, with Notcoin value as the core.