Telegram-Linked Notcoin Pips Solana, Dogecoin In Volumes To Become Fourth-Most Traded Crypto

Cryptocurrencies linked with social messaging giant Telegram like Toncoin TON/USD and Notcoin NOT/USD edged higher on Sunday, even as the broader market moved sideways.

What Happened: NOT accumulated double-digit gains in the last 24 hours, with trading volumes spiking 141% to $4.43 billion. 

In fact, NOT was the fourth-most traded cryptocurrency in the last 24 hours, comprehensively beating top coins such as Solana SOL/USD and Dogecoin DOGE/USD. More than half of the volume came from Binance BNB/USD, the world's largest cryptocurrency trading platform.

Over the week, the coin belonging to a popular play-to-earn Web3 game on Telegram, was up 275%. 

TON, the cryptocurrency belonging to the layer-1 blockchain The Open Network, also saw impressive gains in the last 24 hours. Year-to-date, the Telegram-endorsed project has grown nearly 3X in value. 

Note that the Web3 game Notcoin is built atop the TON network.

Why It Matters: The surge comes in the wake of the massive success of the Telegram-based hyper-casual game that lets users tap their screens to earn NOT tokens.

Kathy Gong, the CEO of gaming infrastructure development company Oneness Labs, attributed Notcoin's success to its easy-to-play model, which appeals to a large Telegram user base that is unfamiliar with Web3.

The growth also reflected the growth and development of the TON ecosystem, and the rising popularity of game-based cryptocurrencies.

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