Cryptocurrencies linked with social messaging giant Telegram like Toncoin TON/USD and Notcoin NOT/USD edged higher on Sunday, even as the broader market moved sideways.
What Happened: NOT accumulated double-digit gains in the last 24 hours, with trading volumes spiking 141% to $4.43 billion.
In fact, NOT was the fourth-most traded cryptocurrency in the last 24 hours, comprehensively beating top coins such as Solana SOL/USD and Dogecoin DOGE/USD. More than half of the volume came from Binance BNB/USD, the world's largest cryptocurrency trading platform.
Over the week, the coin belonging to a popular play-to-earn Web3 game on Telegram, was up 275%.
| Cryptocurrency | Gains +/- | Price (Recorded at 2:50 a.m. EDT) |
| Notcoin NOT/USD | +11.50% | $0.02108 |
| Toncoin TON/USD | +5.46% | $6.71 |
TON, the cryptocurrency belonging to the layer-1 blockchain The Open Network, also saw impressive gains in the last 24 hours. Year-to-date, the Telegram-endorsed project has grown nearly 3X in value.
Note that the Web3 game Notcoin is built atop the TON network.
Why It Matters: The surge comes in the wake of the massive success of the Telegram-based hyper-casual game that lets users tap their screens to earn NOT tokens.
Kathy Gong, the CEO of gaming infrastructure development company Oneness Labs, attributed Notcoin's success to its easy-to-play model, which appeals to a large Telegram user base that is unfamiliar with Web3.
The growth also reflected the growth and development of the TON ecosystem, and the rising popularity of game-based cryptocurrencies.
Read Next: Solana’s Answer To Dogecoin Is Correcting But Analyst Says It Could Be Confirmation That Bon Has More Upside
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