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Cryptocurrency News Articles
Notcoin Airdrop Hype Sparks Exchange Listings, Fuels Toncoin Surge
May 10, 2024 at 03:00 am
Notcoin, a popular Telegram game, has garnered attention within the crypto community due to its potential airdrop. Multiple platforms, including CoinMarketCap and ByBit, have announced the listing of Notcoin's token, NOT, suggesting an imminent distribution. Meanwhile, Toncoin, the token associated with Notcoin's underlying blockchain, has experienced a 27% surge in value over the past week, benefiting from the hype surrounding the airdrop.
Notcoin Airdrop Anticipation Spurs Listing on Major Exchanges and Toncoin Price Surge
Introduction
The cryptocurrency community has been abuzz with speculation surrounding Notcoin, a Telegram-based game with over 35 million users. The game's imminent airdrop, the potential distribution of its native token (NOT) to players, has garnered widespread attention, leading to listings on prominent platforms and a notable price increase for Toncoin (TON), the native token of the Telegram Open Network (TON).
Notcoin Listings and Airdrop Expectations
Several major cryptocurrency exchanges and platforms have announced the listing of NOT, including CoinMarketCap, ByBit, and others. ByBit will commence trading of the NOT/USDT pair on its spot trading platform on May 16.
These listings indicate a growing confidence in the legitimacy and potential of the Notcoin project. The absence of an airdrop announcement has, however, tempered expectations, but the recent developments suggest that the distribution may be imminent.
Toncoin Price Surge Benefits from Notcoin Hype
Amidst the enthusiasm surrounding Notcoin, Toncoin, the native token of the TON blockchain, has witnessed a significant price surge. According to CoinMarketCap, TON's value has jumped by over 27% in the past seven days, with a 5% increase in the last 24 hours alone.
Social Metrics and Whale Activity
Notcoin's popularity has also impacted Toncoin's social metrics. Santiment's data reveals a surge in TON's social dominance and sustained social volume.
An analysis of whale activity suggests that retail investors are actively buying TON, evidenced by a decline in exchange supply and an increase in off-exchange supply. However, large holders have been selling, as indicated by a decrease in supply held by top addresses.
Technical Analysis
A technical analysis of Toncoin's daily chart indicates positive momentum for continued price appreciation. Both the Relative Strength Index (RSI) and Money Flow Index (MFI) are trending upwards, while the Moving Average Convergence Divergence (MACD) displays a bullish crossover.
This technical outlook suggests that the current bull rally may extend further, potentially leading to a retest of TON's April highs.
Conclusion
The anticipation of a Notcoin airdrop has generated excitement within the cryptocurrency community, prompting listings on major platforms and driving up the price of Toncoin. While the exact timing of the airdrop remains uncertain, the recent developments indicate that it may be approaching.
Investors are advised to exercise due diligence and consider market conditions before making any investment decisions. The cryptocurrency market is volatile, and prices can fluctuate rapidly.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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