🔷 On May 30, the gaming token Notcoin (NOT) surged by 30%, reaching $0.012. Its market capitalization hit $1.22 billion with a trading volume of $1.29 billion. The weekly growth of the asset was almost 130%. At the time of writing, the project ranks 81st among the largest cryptocurrencies.
🔷 Analysts at CryptoQuant attribute this surge to the distribution model of NOT. They note that after the token’s listing on Binance on May 16, there was a sharp increase in transactions and active addresses, although prices and trading volumes soon declined. Despite this, the significant accumulation of funds by large holders indicates sustained confidence in the project.
🔷 The author of the Telegram channel DEFI Scam Check pointed out that the futures trading volume of NOT on Binance exceeded its market capitalization by 1.5 times. The researcher noted that DWF Labs is the market maker for Notcoin. Given certain factors, DEFI Scam Check predicts a potential decline in the coin’s value, similar to other projects associated with DWF Labs.