Telegram’s Pavel Durov Promotes Notcoin, NOT Price Rises 10%

Telegram founder Pavel Durov recently celebrated the success of Notcoin, further fueling the ongoing NOT price rally.

Durov revealed that NOT tokens donated by Notcoin’s developers grew in value four times within two weeks. The assets in his account, initially worth $6.8 million, have now surged to almost $25 million.

Durov Pumps Notcoin Once Again

Notcoin is a notorious Web3 game based on The Open Network (TON), functioning as a mini-app within Telegram. In just a few months, the project attracted over 35 million users. On May 16, it launched the long-awaited NOT token, and the asset’s market cap has already exceeded $2.5 billion.

On June 3, Notcoin achieved a significant milestone when the daily trading volume of NOT reached a record $4 billion. This surge propelled the coin into the top five most traded cryptocurrencies. Pavel Durov expressed his admiration for the project’s success.

“A month ago, Notcoin was the largest cryptocurrency community in the history of social media. Today, the Notcoin community is rivaled only by projects it inspired — similar mini apps on Telegram that are allowing tens of millions of users to benefit,” Durov wrote.

Read more: 5 Best Toncoin (TON) Wallets in 2024

Earlier, the Notcoin team donated over 1 billion NOT tokens to Durov, valued at $6.8 million. At the current rate, these coins are now worth more than $24 million. However, Durov noted he is planning to wait to sell them, as he promised to hold the assets until their value increases x100.

Durov’s latest post triggered a 10% jump in NOT price. According to BeInCrypto data, the asset is trading at $0.024 at the time of writing.

Read more: What Are Telegram Bot Coins?

Over the past week, the Notcoin price skyrocketed over 300%. This impressive growth was triggered by several factors, including the launch of the staking function, support from major cryptocurrency exchanges, and the developers’ plans to burn NOT tokens.

The Notcoin team fosters community enthusiasm, contributing to NOT’s rally. Recently, they announced a contest with a prize of 20 million tokens. To participate, users must submit their project vision in any format. The campaign will last until June 24.