Notcoin Gains 18% as Telegram Gaming Token Posts $76 Million in Daily Volume
Notcoin (NOT) gained 18% in 24 hours to May 5, reaching $0.000496 and posting $76 million in daily trading volume. The move ran in parallel with a 28% surge in Toncoin and a broader rally across Telegram-linked tokens.
Notcoin’s market cap stood at $49 million on May 5. The 18% gain placed NOT among the stronger performers in the TON ecosystem on that day.
The Numbers Behind the Move
Notcoin’s 17% gain measured against Bitcoin on May 5 confirmed the token was outpacing the wider market and not simply riding a general rise.
Daily volume of $76 million represented a significant multiple of the token’s total market cap, indicating high speculative turnover. This ratio, where volume exceeds or nearly matches market cap, is typical of smaller tokens in sharp short-term rallies.
The token’s price of $0.000496 on May 5 still sits far below its 2024 highs, when Notcoin briefly traded above $0.028 following its initial airdrop and listing.
Traders active in the TON ecosystem on May 4 said in public posts that transaction volumes on Telegram mini-game platforms had been rising. Those comments support the view that the May 5 price move had some on-chain activity behind it.
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What Notcoin Is
Notcoin is a tap-to-earn game that ran inside Telegram between January and May 2024, distributing tokens to players based on in-app activity.
The game required no financial investment. Players tapped a virtual coin graphic millions of times, accumulating NOT points that later converted to on-chain tokens via airdrop.
The game attracted more than 35 million participants before its official token launch on the TON blockchain in May 2024.
The NOT token is now a freely tradeable cryptocurrency on multiple centralized exchanges. It has no direct tie to ongoing game revenue but benefits from association with the Telegram ecosystem and from traders who treat it as a proxy for TON network activity.
Notcoin is classified as a Telegram-native gaming token in most exchange listings.
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Prior Performance and Context
Notcoin launched its token in May 2024 at a fully diluted valuation above $1 billion, making it one of the largest tap-to-earn token launches at the time. The price fell steadily through the second half of 2024 as initial airdrop recipients sold their holdings and broader cryptocurrency market conditions weakened.
By early 2025, NOT had dropped more than 90% from its launch-month peak.
The token stabilized in the $0.0003-$0.0005 range through late 2025 and early 2026, trading at low volumes with little directional movement. The May 5 rally brought the token back to the upper end of that range without yet breaking above it.
A sustained move above $0.0006 would represent the first meaningful technical breakout in more than a year.
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What Comes Next for NOT
Notcoin’s immediate trajectory depends on whether the TON ecosystem rally extends past May 5. The token has historically tracked Toncoin with a lag of one to two trading days, rising after TON moves and then giving back gains when the primary catalyst fades.
If TON holds above $1.70 through the week of May 5, NOT traders may find support at current levels.
A separate driver would be any new Telegram gaming application launching on the TON network and distributing tokens to Notcoin holders or existing TON users. Such announcements have previously triggered short-term NOT rallies independent of broader TON price action.
Traders watching the token should monitor TON on-chain data and Telegram gaming app announcements as the two leading variables.
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