Notcoin's Meteoric Rise: Billions Staked Ahead of Exchange Listings

Over $13.7 billion worth of Notcoin (NOT) tokens have been staked on Binance, ahead of the token's listings on multiple crypto exchanges. This surge in staking follows the recent activation of in-game claims for Notcoin's 35 million players. Players have deposited their NOT tokens to Binance and other exchanges in anticipation of the listings, with the platform offering over 4 billion NOT tokens for staking, making up 4% of the altcoin's supply.

Notcoin's Meteoric Rise: Investors Stake Billions Ahead of Exchange Listings

In a testament to the burgeoning popularity of GameFi, investors have staked a staggering $13.7 billion worth of Notcoin (NOT), the native token of the viral Telegram-based game, on Binance. This unprecedented surge of interest comes just ahead of NOT's highly anticipated listings on several major crypto exchanges.

The surge in staking activity commenced on May 14th when developer Open Builders activated in-game claims for Notcoin's approximately 35 million players. These players were presented with the opportunity to convert their earned NOT tokens into real-world assets, igniting a flurry of staking activity on Binance, OKX, ByBit, and the Telegram Wallet app.

Deposits will be temporarily paused as the team prepares for NOT's imminent listings on several major centralized exchanges. Following the listings, token holders will be able to withdraw their assets to their preferred self-custody wallets.

Alongside the in-game claims, players were also given the option to stake their tokens through staking reward campaigns launched by Binance and OKX on May 13th. These campaigns offer incentives for staking, granting participants higher status levels and access to exclusive projects, as per an official Telegram post.

Combined, these exchanges will distribute over 4 billion NOT tokens, representing more than 4% of the altcoin's total supply. Binance will be the largest contributor, offering over 3 billion tokens through its Launchpool campaign.

Of the $13.7 billion staked on Binance's Launchpad, a significant portion, over $2.6 billion, has been allocated to the FDUSD pool.

While NOT has attracted substantial investor interest, its early performance differs from that of its competitors, Pixels (PIXEL) and Portal (PORTAL), which generated billions of dollars in staking interest and debuted with substantial market caps. PIXEL's current market capitalization exceeds $259 million, while PORTAL's stands at over $141 million.

Another GameFi project, SPONGE V2, is also poised for launch, with over $19 million worth of its meme coin staked and bridged. This development coincides with the project's expansion into the blockchain gaming sector, with the upcoming launch of its play-to-earn racer game.

As NOT's exchange listings draw near, investors eagerly anticipate the token's performance. The astronomical staking figures suggest a bullish outlook, but whether NOT will emulate the success of its rivals remains to be seen. The upcoming listings and subsequent trading activity will provide crucial insights into the long-term potential of this viral GameFi project.