Markets
Notcoin Leads Crypto Rebound With 30% Jump as Bitcoin, Ethereum Regain Footing
Published
3 months agoon
By
adminThe cryptocurrency market is broadly in the green Tuesday, much to the relief of traders who saw major assets plunge by 20% or more from late Sunday into Monday as liquidations piled up. But amid the rebound, it’s not Bitcoin or Ethereum that’s leading the charge—it’s a crypto gaming token.
Specifically, it’s Notcoin (NOT), the token of the Telegram-based game that launched on The Open Network (TON) in May, yielding the year’s biggest gaming token to date.
NOT is up 30% over the last 24 hours at a current price just above $0.012, per data from CoinGecko, making it the largest gainer in the top 100 coins by market cap during that span. Even so, the price of NOT hasn’t broken even over the past week, currently down 0.4% due to heavy losses prior to the past day.
Notcoin’s surge comes following the recent launch of a new game within the Telegram mini app, called Lost Dogs: The Way. This simple narrative game lets Notcoin players choose from three outcomes to a particular story event, and then earn in-game currency depending on the outcome. There are also bonuses for players who invite friends and complete other tasks.
Interestingly, Notcoin’s latest spike isn’t representative of a broader gaming token resurgence. It’s the only gaming token in the top 100 cryptocurrencies to mark a double-digit percentage jump over the past day, with Gala Games (GALA) up about 9% and Immutable (IMX) up 8%.
Notcoin’s jump also outpaces major assets like Bitcoin and Ethereum, which are up just over 3% and 2%, respectively, during the same span. But gaming tokens tend to be highly volatile and can swing wildly up or down, akin to meme coins—and Notcoin has been positioned as a meme coin of sorts for the TON ecosystem, as well.
Edited by Ryan Ozawa.
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The Bitcoin Report: Key Trends, Insights, and Bitcoin Price Forecast
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adminDive into the full October 2024 Bitcoin Report for the latest insights and analysis. Click here to read the full report: Read the Report
The October 2024 edition of The Bitcoin Report is packed with expert insights and bullish price forecasts as Bitcoin continues to carve its place as the leading decentralized digital asset. This month, we focus on several key topics: Bitcoin’s decreasing exchange balances, ETF inflows surging past $5 billion, and bullish price targets that could redefine Bitcoin’s value over the next quarter. Featured contributions come from some of the biggest names in the Bitcoin space, including Caitlin Long, who provides an industry insight into Bitcoin’s adoption cycle, and Tone Vays, whose exclusive price forecast gives reasons for optimism as Bitcoin heads toward potential new highs.
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- Bitcoin On-Chain Analysis: This section examines how decreasing exchange balances and growing self-custody reflect an increase in long-term holding sentiment. With Bitcoin exchange balances hitting new lows, it signals rising confidence among investors that are choosing to take control of their own assets rather than leave them on exchanges.
- Bitcoin ETFs: October saw over $5.4 billion in inflows to Bitcoin ETFs, with BlackRock’s IBIT leading the market. This record-setting month underscores the growing acceptance of Bitcoin in mainstream financial markets, bolstered by the approval of options trading on Bitcoin ETFs. Dr. Michael Tabone, Economist & Professor at the University of the Cumberlands, provides his take on how this surge could play out in the coming months.
- Bitcoin Mining Update: Russia and China have quietly expanded their influence in global mining, with the US still holding the largest hashrate share. Lukas Pfeiffer of Crypto Oxygen elaborates on how these shifts may reshape global mining dynamics and what it means for the future.
- Price Forecast by Tone Vays: Bitcoin analyst Tone Vays remains incredibly optimistic about Bitcoin’s future price, citing multiple technical indicators and historical patterns. The report details potential price targets ranging from $102,000 to $140,000 by mid-2025, supported by bullish technical analysis such as Fibonacci extensions and a classic cup and handle chart pattern.
- Industry Insights from Caitlin Long: Caitlin Long, Founder & CEO of Custodia Bank, provides her perspective on Bitcoin’s adoption trends and how the broader economic climate continues to favor decentralized assets. According to Long, Bitcoin’s fundamentals are strong, and a bull market could be on the horizon following the 2024 U.S. presidential election.
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Get the full insights, charts, and analysis by accessing the complete report now. We invite your organization to explore potential sponsorship or joint-publication opportunities for future editions by reaching out to Mark Mason at mark.mason@btcmedia.org. Let’s orange-pill the world together!
Download and Share: This report is freely available to all. Download, share, and help drive the conversation on Bitcoin adoption and education. Use the hashtag #TheBitcoinReport in your posts to join the movement.
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