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Notcoin After the Launch: Forecasting the Token's Price
05/17/2024

Notcoin After the Launch: Forecasting the Token's Price

05/17/2024
4,4

The launch of Notcoin (NOT) captured the attention of the cryptocurrency world as it made its debut on leading exchanges like Binance, OKX, and Bybit.  In the 24 hours after its release, Notcoin saw a remarkable trading volume of approximately $1.37 billion. Initially, the token reached a market capitalization exceeding $1 billion but later settled at $696 million.

Within the first hour of its trading, Notcoin recorded a trading volume of $294 million. The maximum supply of NOT is capped at 102 billion, with 3% allocated to Binance Launchpool users and an additional 1.5% reserved for OKX Jumpstart users.

However, the launch was not without issues. Bybit faced criticism as not all users received their tokens before trading began. Also, the trading price of NOT was much lower than some other exchanges. Bybit’s CEO Ben Zhou addressed the community, stating that a compensation plan was in preparation for the affected users. Zhou apologized for the oversight and committed to preventing future occurrences.



Furthermore, some Binance users encountered problems with Notcoin deposits being rejected due to compliance checks, though the affected balances were returned to their telegram wallets within an hour.

When trading commenced, the initial listing price of Notcoin on Binance was set at $0.012. However, the price quickly began to decline. Competing exchanges Bybit and OKX listed Notcoin at considerably different prices: Bybit started at an unusually low $0.0007, while OKX opened at $0.00947. This discrepancy in initial prices contributed to a volatile trading environment.

Within just 15 minutes of opening, the value of Notcoin plummeted by more than 50% across all exchanges. As of the latest update, Notcoin's price stands at $0.006553, which still represents a significant drop of approximately 54.67% from its initial listing prices in the past 24 hours. 

Source & Copyright: CoinMarketCap

So what will be the price of Notcoin? While the token has faced significant volatility immediately following its launch, the long-term value of Notcoin will largely depend on several key factors. These include the ongoing adoption and utility of the token within the gaming community, and broader market conditions that influence investor sentiment in the cryptocurrency space.
 


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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

Ben Zhou Binance ByBit OKX


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