A fresh record-breaking surge of almost 160% was witnessed this week by a new altcoin associated with a popular viral game on the encrypted messaging platform Telegram.

The altcoin, known as Notcoin, is the official token for the Telegram-based tap-to-earn mining game of the same name. It entered the market on May 16th after receiving support from Binance’s Launchpool platform, which allows users to stake their coins and farm new assets.

Notcoin boasts an impressive number of on-chain holders, with over 1.6 million participants already on board. In fact, this figure surpasses the number of on-chain holders for popular memecoins such as Shiba Inu (SHIB), Bonk (BONK), and Pepe (PEPE).

The token operates on the TON blockchain, which was initially developed by Telegram. However, due to a legal dispute with the US Securities and Exchange Commission (SEC), Telegram severed ties with the chain in 2020. Since then, The Open Network, an open-source community of developers, has taken over the management of the technology. Despite the separation, Telegram’s massive user base of 700 million can still send and receive TON within the platform without the need for long wallet addresses.

As of the time of writing, Notcoin is ranked 80th in terms of market capitalization and is trading at $0.0127. This marks a significant increase from its value of $0.00489 just seven days ago.

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