Notcoin (NOT), a cryptocurrency constructed atop the TON blockchain, has lately turned heads throughout the broader crypto business. The token has embarked upon a bull run, as illustrated by over 30% positive aspects in its month-to-month chart. This worth rally comes primarily attributable to a stockpile of bullish elements. Here’s an in-depth report on it:
5 Reasons Behind Notcoin (NOT) Price Rally
Binance & Coinbase Extend Support
Notably, the world’s main crypto buying and selling platforms, Binance and Coinbase, have lately introduced their unwavering help for Notcoin. The CEXs will additional lengthen help by including new buying and selling pairs for the token on their platforms.
Binance expanded its commerce choices by introducing the brand new buying and selling pair NOT/BRL, Brazil Real (BRL), providing elevated person publicity. Further, Coinbase International Exchange revealed plans to roll out Notcoin perpetual futures (NOT-PERP) beginning June 20.
NOT Futures Open Interest Spikes
Meanwhile, Coinglass information highlights a big uptick in NOT Futures OI for the reason that starting of June, reaching $247.06 million right now. This underscores the presence of considerable cash influx and investor curiosity within the asset, rising in tandem with the current worth rally.
Market Technicals Show Bullish Presence
Simultaneously, market technicals and indicators flagged a powerful shopping for sentiment prevailing for the asset. The RSI, a key indicator of market sentiment, loomed round 61, underlining the presence of upside stress on Notcoin.
Additional shopping for may pump NOT forward, because the RSI has but to succeed in overbought territory, after which the token’s worth could rebound. Nonetheless, the present market image stays bullish.
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Notcoin Gains Popularity
Moreover, Notcoin lately marked a big milestone, boasting 40 million lively customers. This was adopted by the burgeoning reputation of the ‘ Tap-to-Earn’ video games on Telegram. Crypto market contributors anticipate additional positive aspects within the asset’s worth, falling according to this elevated challenge adoption.
Also, the TON blockchain, fueled by Telegram’s 900M person base, induced lively addresses on the community to surpass that of Ethereum’s.
NOT Mimics Broader Trend
NOT follows TON, the native token of the TON blockchain, mirroring an uptrend. TON gained practically 15% over the previous month, whereas NOT rallied 36% throughout the identical interval. This worth rally falls according to the rising adoption of Telegram, as additionally talked about above.
Meanwhile, NOT traded at $0.0198, with its 24-hour lows and highs being $0.01892 and $0.02146, respectively.
Also Read: 8 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom
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