Public data shows that the $NOT token has risen nearly 40% this month. What factors have driven the surge of $NOT?
Reason Analysis
1. Staking feature reduces circulating supply
The staking feature has reduced the supply of $NOT tokens in circulation, which is a major factor. The ecosystem project team has also conducted token burns, with about 18 million $TON (approximately $350,000) being burned and permanently removed from circulation, reducing selling pressure in the market. Although this amount may not seem large, investors may expect more burns in the future. After all, in the cryptocurrency field, valuations do not always have to be rational.
Another theory is that market manipulators are pushing up the token price. $NOT is supported by Binance, and people often discuss how tokens supported by Binance magically rise.
Reasons to be bullish on $NOT
- $NOT is the token for a popular social click game on Telegram, which later added leaderboard and team features. At its peak, it reached an astonishing 35 million users!
- Already listed and supported on Binance
- 100% of tokens are in circulation
- Leveraged bets on the $TON ecosystem
