On May 30, the gaming token Notcoin (NOT) surged by 30% to $0.012. Its market capitalization reached $1.22 billion with a trading volume of $1.29 billion, according to CoinGecko.

The weekly growth of the asset was nearly 130%, and at the time of writing, the project ranks 81st among the largest cryptocurrencies.

Despite a decline after listing, the asset continues to regain its positions. CryptoQuant analysts link this dynamic to the NOT distribution model.

According to their data, a significant portion (69.59%) of the NOT airdrop was distributed through on-chain withdrawal, and 22.87% was directed towards community incentives, demonstrating a strategy aimed at broad engagement.

A substantial share of the coins went to centralized exchanges after the launch, noted CryptoQuant. The initial "excessive market reaction" caused a correction, but the combination of fund accumulation by holders and community incentives provided potential for recovery.

The author of the Telegram channel DEFI Scam Check noted that the futures trading volume of NOT on Binance exceeded the market capitalization of the coin by one and a half times.

The researcher pointed out that the market maker for Notcoin is DWF Labs. Projects collaborating with the company are characterized by:

• Significant excess of futures trading volume over the project's market capitalization by at least two to three times;
• Discrepancies between spot and futures prices;
• High interest in the project's market capitalization (currently NOT on Binance amounts to $74 million — 4% of the issuance).

So far, Notcoin partially meets only the first criterion. If these factors continue to manifest, DEFI Scam Check forecasts a drop in the coin similar to other projects associated with DWF Labs.

It is also important to note that Notcoin co-founder Alexander Plotvinov announced a coin burning feature.