Telegram's founder, Pavel Durov, recently shared his enthusiasm about the launch of a new token, Notcoin (NOT), calling it an "amazing success story." The cryptocurrency has swiftly gained traction among users, amassing an impressive active user base of over 35 million in just a few months.
Durov highlighted the explosive growth of Notcoin, which rapidly positioned itself within the top ten cryptocurrencies by trading volume. Its market capitalization has nearly reached $700 million. "Imagine – hundreds of millions of dollars in value were created from thin air in this mini-app within a few months," Durov stated in a message.
The success of Notcoin not only reflects the robustness of Telegram's user engagement but also underscores the powerful ecosystems of Telegram and The Open Network (TON) for developers. According to Durov, many new applications are being developed that leverage both the messenger's reach and the TON blockchain.
Shortly after Durov's announcement, the Notcoin team reported that they had gifted the Telegram founder over 1 billion NOT tokens, valued at approximately $6.8 million. This gesture signifies the strong collaboration and mutual support between the developers and the platform that helped facilitate their growth.
The introduction of Notcoin on major cryptocurrency exchanges like Binance, OKX, Bybit, Kucoin, Gate, Bitget, and Bitfinex, which took place on May 16, 2024, marked another milestone for the token. However, some users on Binance reported issues receiving their assets, which they had transferred from the Telegram app to their private addresses on the exchange.
The rapid ascent of Notcoin and the significant developments following its launch not only highlight the growing interest and value in digital currencies but also the potential for messenger platforms like Telegram to extend their ecosystem into the realm of digital finance. Pavel Durov's vision for Telegram and TON as a fertile ground for innovative applications appears to be coming to fruition, setting a precedent for future tech and finance integrations.
