The cryptocurrency market is undergoing a correction, with many major coins experiencing price drops. However, Notcoin (NOT), a Telegram-based play-to-earn project, is defying this trend by rising an impressive 40% after a period of relative inactivity and following its highly anticipated airdrop.

Notcoin (NOT) Price Surges 40% after Airdrop, Trading Volume Hits $1.25 Billion

The initial airdrop didn't lead to immediate gains but has certainly reignited interest in Notcoin. Currently, Notcoin is up by 20%, with a market cap of $968 million over the past 24 hours. This surge has coincided with an 18% increase in daily trading volume, exceeding $1.25 billion.

Notcoin’s Play-to-Earn Game Gains Popularity

Analysts attribute the recent price increase to the growing popularity of Notcoin’s play-to-earn Web3 game on Telegram. The game allows users to convert in-game currency to NOT tokens, attracting many Telegram users.

Additionally, well-known cryptocurrency trader Zen has expressed a positive mid-term outlook for NOT. While Zen acknowledges the long-term dependence on the broader market, he remains optimistic, stating that "dips are for buying."

Following the airdrop, Notcoin’s social media presence has grown significantly. The team recently compared Notcoin to Bitcoin, marking the occasion with the NOT Airdrop Phase 1 announcement. A Twitter poll with over 29,711 participants showed strong support for Notcoin, with 86.2% choosing it over Bitcoin (13.8%).

The price increase triggered a wave of short liquidations. According to Coinglass, over $3.90 million in short positions were liquidated in the last 24 hours, as traders betting on a price drop were forced to buy back to cover their losses, driving the price even higher.

Notcoin’s Innovative “Earning Missions” Feature

Apart from the airdrop, Notcoin is attracting investors with innovative features like “earning missions,” allowing users to earn NOT tokens by engaging with partner projects and communities. Users can also increase their rewards significantly by staking their NOT holdings, with higher tiers offering substantial returns. This combination of earning opportunities makes Notcoin appealing to both new and existing investors.