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Notcoin Drops 85% in Value as Investors Sell Airdropped Tokens

By Oluchukwu Ikemefuna

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Notcoin, a cryptocurrency endorsed by Telegram, recently concluded a successful airdrop campaign. However, the crypto coin has lost 85% of its value in the first week of listing. Unfortunately, Notcoin value dropped.

The sharp decline is attributed to the sell off made by investors. Holding on to the coin would have maintained the value and not pulled down. 

Bitcoin value drop

Notcoin Value Drops Despite Success In Listing 

The Notcoin game became widespread when it allowed Web3 enthusiasts to earn coins while tapping on a phone screen. 

Players can use $NOT tokens for various in-game activities, including purchasing upgrades, participating in exclusive events, and even influencing the game’s development. 

It is an impressive and successful project as 35 million people mined the coin globally. Notcoin reached the eighth position in the trading volume and surpassed $1.4 billion in value. 

However, the coin value has greatly dropped given the investors’ decision to sell off. 

Also Read: $NOT Token Launches Today: All you Need to Know | Launch Price | Steps to Claim

Notcoin Team Initiates Campaign To Combat Value Drop

To combat the fall, the Notcoin Team introduced campaigns and benefits to spur user engagement and, consequently token stability.

They introduced extending staking benefits and access to exclusive allocations for the Gold and Premium level users. 

Notcoin highlighted that whilst they encourage users to stake their tokens, they won’t be creating a lock feature to force anyone to stay.

The Notcoin team stated: “You are free to unstake your Notcoin and withdraw it on-chain anytime. Yes, you’ll lose your Level benefits and access to the pools. However, we don’t want to lock or force anyone to stay. Notcoin is a free choice.”

What To Look Out For 

With the team plan in action, there are speculations on what the value of Notcoin will be. Also, it seems the fate of the coin lies in the hands of investors holding it.

This is risky as many investors mined the coin to sell and not to hold. It is interesting to see how the team plans to stop the falling value. 

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

Articles: 275

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