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Telegram's Impact on Cryptocurrency World

Jun 3, 2024

Telegram made a significant entrance into the cryptocurrency world, adopting a strategic approach that propelled the process forward at a critical juncture. Amid the surge in TON Coin's market value, Telegram remains focused on establishing its ecosystem, with NOT Coin marking a crucial milestone in this trajectory. The recent surge in NOT Coin's value, reaching an all-time high with a 320% increase, has captured the attention of the cryptocurrency community. With Telegram's user base surpassing 500 million and its growing influence among investors, NOT Coin has emerged as a pivotal player in the crypto space, aligning seamlessly with Discord and integrating effectively with TON Coin.

On June 2, NOT Coin set a record high price of $0.02896, signaling a groundbreaking achievement in its domain. Through TON Coin's innovative mini-application project in the Play-to-Earn (P2E) sector, leveraging Telegram's extensive user network, the platform attracted over 30 million users. The listing on BYBIT exchange on May 16 further fueled the rally, resulting in a 200% surge in price and propelling Notcoin to a market cap of $2.3 billion, positioning it as the 51st largest cryptocurrency globally. Justin Hyun, the investment director of the TON Foundation, foresees Notcoin and other Telegram Mini Applications reaching a target of 500 million potential users by invigorating the crypto space with user-friendly interfaces and accessibility.

The surge in NOT Coin's value can be attributed to its status as a meme coin and the experimental collaboration with Telegram, stirring significant social sentiment that directly impacts its price movements. Data analysis by Alphascan reveals that Notcoin surged as the most discussed cryptocurrency within a 12-hour period, indicative of its growing social prominence.

Notcoin's trading volume surpassed $4 billion on June 3, underscoring the remarkable interest it has garnered relative to its market valuation. This surpasses the trading volume of USDC, highlighting the growing hype surrounding Notcoin. Ali Martinez underscores the heightened social sensitivity around Notcoin as a harbinger of potential success within the crypto sphere, although the future trajectory remains unpredictable.

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