Notcoin, a notable presence in both the cryptocurrency market and the broader internet landscape this year, has announced a significant update involving the burning of a substantial amount of its native tokens. According to a recent statement on its official social media channels, Notcoin has executed a token burn amounting to $3 million, effectively reducing the overall supply of NOT tokens in circulation. Alongside this strategic move, the company unveiled a $4.2 million incentive program designed to reward its Gold and Platinum users within the Notcoin Explore platform.

Currently, the circulating supply of NOT tokens stands at 102.49 billion, with each token valued at approximately $0.01432. This places Notcoin's market capitalization at approximately $1.47 billion, solidifying its position as the 59th largest cryptocurrency by market cap according to CoinMarketCap data.

The decision to burn tokens marks a significant shift in Notcoin's tokenomics strategy, aiming to enhance both the scarcity and value proposition of NOT tokens. By reducing the total supply available on the market, Notcoin seeks to stimulate potential price appreciation and increase investor interest. This strategic initiative underscores Notcoin's commitment to prioritizing the long-term value and utility of its token for the benefit of its growing community of users.

Notcoin, launched on January 1st within the TON ecosystem, operates as a Web3 tap-to-earn game integrated directly into the Telegram messenger platform. The project initially gained widespread attention through its innovative approach of allowing users to mine NOT tokens simply by tapping on their smartphone screens. This user-friendly mechanism quickly propelled Notcoin to amass a substantial user base exceeding 35 million within a remarkably short period.

The introduction of the token burn and incentive program represents a proactive step by Notcoin to strengthen its market position and foster greater engagement within its community. Moving forward, the project aims to continue innovating within the Web3 space, leveraging its unique tap-to-earn model to drive further adoption and utility for NOT tokens among global users.