Notcoin ($NOT) — The Mini-App Taking Telegram by Storm

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Layer one (L1) blockchain The Open Network (TON) is taking over the crypto world in 2024. After cementing its place in the top 10 crypto list, TON ecosystem tokens like Notcoin ($NOT) are catching the eye of investors.

Notcoin gained over 35 million active users within a few months of its launch. In mid-May 2024, the NOT token debuted on the public market after listing on several centralized crypto exchanges.

What is Notcoin and why is it trending? Let’s find out.

Key Takeaways

  • Notcoin is an explore-to-earn mini-app on instant messaging platform Telegram.
  • NOT crypto debuted on crypto exchanges, including Binance, OKX, and ByBit, on May 16, 2024.
  • Notcoin donated over 1.03 billion NOT tokens to Telegram co-founder Pavel Durov.
  • NOT’s market cap stood at $811.5 million, making it the 101st most valuable crypto in the world.

What is Notcoin ($NOT)?

Notcoin is an explore-to-earn mini-app on the instant messaging platform Telegram. The app started as a click-to-earn game that allowed users to earn a crypto called NOT by clicking the screen.

To understand the birth of crypto-powered mini apps on Telegram, we have to go back to September 2023, when Telegram announced that it was introducing a crypto wallet powered by the TON blockchain to buy, sell, and manage cryptocurrencies on its messaging app.

Since then, hundreds of crypto mini-apps like Notcoin have popped up on the platform. Users can interact with TON mini apps on Telegram without leaving the platform. This seamless interaction has supported the growing popularity of Notcoin.

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According to Notcoin, the app is now evolving from a clicker game to a new explore-to-earn model that allows users to earn Notcoin as they interact with Web3 applications and websites.

“It works like this: projects get Notcoin from the market, add it to the campaign pool, and users are allowed to complete the campaign to start earning Notcoin from this pool,” said Notcoin.

Users will find explore-to-earn tasks on the Notcoin mini-app on Telegram that reward NOT tokens. As users explore more crypto projects, they level up between Bronze, Silver, Gold, and Platinum tiers.

Higher levels give users access to explore-to-earn campaigns with greater rewards.

Notcoin Tokenomics: No Investors, No Whales

In 2024, a growing number of crypto investors voiced their dismay at the venture capital-dominated (VC) nature of crypto token launches. Critics argued that most VC-backed tokens launched with “low float, high fully diluted valuation (FDV)” which only favored early private investors.

Notcoin is different. The project said it is a “pure community” with no investors and no whales.

According to an official post, the total supply of NOT stands at about 102.719 billion tokens.

Over 78% of the total supply is held by the Notcoin community,, who received the tokens from mining and purchasing Notcoin vouchers.

The remaining 22% is set aside for “new users and next phases.” The project aims to use the remaining supply for Notcoin development, listing campaigns and to onboard the next 300 million new users.

As of May 28, 2024, NOT’s market cap stood at $811.5 million, making it the 101st most valuable crypto in the world.

Notcoin Price Analysis: Market Debut in May 2024

On May 16, 2024, NOT tokens were made available for transferring and trading with TON, USDT and BTC pairs on Telegram’s crypto wallet.

On the same day, NOT listed on several crypto exchanges, including Binance, OKX, and ByBit.

Data on CoinMarketCap showed NOT opening at $0.01078 on May 16, 2024. The token hit a high of $0.01445 during the session which currently stands as its all-time high price.

However, NOT closed its debut session over 40% below its opening price. NOT selloffs continued over the next 10 days, with the token falling to its lowest price of $0.004605 on May 24, 2024.

Looking forward, Notcoin and the rest of the TON ecosystem is worth monitoring in 2024. Market analysts see TON’s relationship with Telegram as a unique advantage held by the L1 blockchain against its competition. This will positively affect Notcoin’s future price.

Crypto hedge fund Pantera Capital said “Telegram’s vast user base and seamless UX” was a key reason why the firm made its “largest investment ever” in TON.

Elsewhere, CQ Ben of CryptoQuant said TON and BNB were the only major L1 chains that have managed to meaningfully outperform Bitcoin this year.

“In my opinion, TON’s relative strength against Bitcoin coupled with the network effect of Telegram makes it a crypto worth monitoring this bull run,” added CQ Ben.

Notcoin News: Telegram’s Pavel Durov holds NOT

On February 6, 2024, Notcoin announced that over 552,586 NOT holders donated over 1.03 billion NOT tokens to Telegram co-founder Pavel Durov as a token of appreciation for creating the Telegram app.

The donation was reminiscent of the time in May 2021 when the Ethereum-based memecoin project Shiba Inu (SHIB) gifted Ethereum co-founder Vitalik Buterin 50% of SHIB’s total supply worth billions of dollars.

Buterin decided to burn 90% of the SHIB tokens gifted to him and donated the remaining 10% to a COVID-19 relief fund based in India.

Durov, however, will not be following a similar path.

On May 17, 2024, Durov said the NOT tokens gifted to him were worth over $6.8 million.

He pledged to hold on to his NOT coin until they turn to $680 million, which will then be used to buy more servers for Telegram.

At the time of writing, Durov held about 1% of NOT’s total supply.

The Bottom Line

The story of Notcoin is about the potential of the TON ecosystem. Telegram’s over 800 million active users will now get to experience crypto-powered applications like Notcoin without going through the tedious process of setting up a separate crypto wallet.

If you are interested in investing in Notcoin, we would like to remind readers that cryptocurrencies are highly volatile and risky. Always do your own research before investing and note that past performance is no guarantee of future returns.

This article should not be considered investment advice and is for information purposes only.

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Mensholong Lepcha
Crypto & Blockchain Writer
Mensholong Lepcha
Crypto & Blockchain Writer

Mensholong is an experienced crypto and blockchain journalist, now a full-time writer at Techopedia. He has previously contributed news coverage and in-depth market analysis to Capital.com, StockTwits, XBO, and other publications. He started his writing career at Reuters in 2017, covering global equity markets. In his free time, Mensholong loves watching football, finding new music, and buying BTC and ETH for his crypto portfolio.