Telegram's NOT ecoin surges 300% in two months since listing

The price of Notecoin (NOT) has risen more than 300% in the past week, reaching a new all-time high, blockchain publication Cointelegraph reported today. The play-to-earn game and token integrated as a Telegram mini-app is making waves in the industry, having attracted more than 30 million users on Telegram in less than two months.

Over the past week, the price of NTC has risen 323%, reaching an all-time high of $0.02896 on June 2, according to TradingView data. The cryptocurrency was listed on the Bybit exchange on June 16, and has risen more than 200% in the past two and a half weeks since its listing. Since the surge, NTC has surpassed $2.3 billion in market capitalization, making it the 51st largest cryptocurrency tracked by CoinMarketCap.

The surge has been fueled by increased interest on social media platforms. On June 3, it was the second-most-mentioned cryptocurrency in a 12-hour period, according to a post on Twitter. Crypto analyst Ali Martinez believes that the growing social sentiment surrounding NTC is attracting more large investors, or whales, to the Telegram ecosystem, namely Toncoin (TON).

“Ntcoin and other Telegram mini-apps could be the ‘Trojan horse’ for blockchain democratization that could attract the next 500 million crypto users,” said Justin Hyun, director of investments at the TON Foundation.