Gaming token Notcoin down by almost 50% after airdrop launch

NOT, agaming token on the TON network, has continued to declinehours after its airdrop launch and is currently down nearly 50%. NOT's decline follows a similar pattern to that of cryptocurrency airdrops, which experience massive sell-offs after their launch. Gaming tokens have largely underperformed compared to other categories in the crypto market.

A few hours after the airdrop launch on Thursday, Notcoin began to trade at a fully diluted valuation of $1 billion after the distribution across various exchanges. Read more: Avalanche price could rise 20% on gaming narrative ahead of GDC conference The token generated $294 million in volume in the first hour of trading. However, the gaming token, which is said to have onboarded 35 million users into its ecosystem, began to decline strongly.

Source: Gaming Daily Report (gamingdailyreport.net)

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