More than four months after the game launched via messaging app Telegram, Notcoin debuted its NOT token Thursday via The Open Network (TON)—and the massive airdrop yielded the largest gaming token launch of 2024 so far, along with over a billion dollars worth of trading volume so far.
The NOT token is currently trading at a price of approximately $0.0076, per data from CoinGecko, giving it a market cap of about $776 million with the entire supply of 102.7 billion tokens minted right from the start.
Some 35 million players were able to claim NOT tokens from playing the game, plus Notcoin launched staking rewards campaigns through Binance and OKX earlier this week.
Both CoinGecko and CoinMarketCap show the token price plunging soon after launch, as more and more players claimed their tokens and sold them into the market, though they disagree on how high the price went. CoinGecko points to a peak of $0.0215 while CoinMarketCap goes much lower at $0.0144.
That’s reflected in the estimated size of the price drop, with CoinGecko showing NOT down 65% on the day, while CoinMarketCap says it’s down 48%. In any case, new crypto tokens often see volatile pricing right out the gate due to limited liquidity, and we’ve seen these types of tracking disparities with other recent launches as well.
In any case, that also puts the token’s peak market cap at different levels, with CoinGecko pointing to a $2.21 billion market cap at the highest price, while CoinMarketCap says NOT peaked at a market cap above $1.48 billion.
Either way, Notcoin stands well above the competition when it comes to this year’s biggest gaming token launches by market cap. The runners-up are Pixels (PIXEL), which peaked at $731 million according to CoinGecko, and Saga (SAGA) at a peak cap of $684 million.
Notcoin trading has already topped the billion-dollar mark in a matter of hours, with CoinMarketCap reporting about $1.07 billion worth of trading volume. That makes it the 14th most-traded coin by that metric over the last 24 hours.
Edited by Ryan Ozawa.