At the time of writing, NOT was trading at $0.01572, with its daily trading volume up 22% to $470 million. The token’s market cap also climbed 10% to reach $1.6 billion, ranking it as the 56th largest crypto asset per data from CoinMarketCap.
The update also outlines a $4.2 million incentive plan to reward Gold and Platinum users of the Notcoin Explore platform. The token burn is part of Notcoin’s multifaceted strategy to improve tokenomics and create value for users.
By lowering overall supply, the popular tap-to-earn project seeks to create scarcity, potentially increasing the token’s value and appeal. The ongoing airdrop is touted to be larger than those combined by ZkSync and LayerZero.
The team further added that the total airdrop value at its all-time high was $2.5 billion for Notcoin, compared to $954 million for ZkSync and $323 million for LayerZero. Metrics such as TON’s daily active addresses have increased dramatically over the last three months.
This trajectory is likely to inspire similar patterns for Notcoin, which is looking beyond Tap2Earn for expansion.