Author: Crypto Stream Source: X, @CryptoStreamHub Translation: Shan Ouba, Golden Finance
NOT tokens continued to rise in the past 24 hours, with the third wave rising by about 60%, and rising by more than 280% in 7 days. What factors drove the surge in NOT?
Staking function
Projects burn NOT tokens
Market manipulators drive
One of the reasons is the reduction of circulating supply through the staking function, as well as the burning carried out by ecosystem projects.
About 18 million $TON (about $350,000) have been burned and permanently removed from circulation (reducing selling pressure). Although this may not seem like much, investors may expect more burns in the future, after all, this is cryptocurrency and valuations don’t have to be reasonable.
Another reason is that market manipulators are pushing the token up. $NOT is backed by Binance, and people often talk about Binance-backed tokens magically going up.
For example, I recently read a blog post titled: “Binance Group is Real”.
It’s hard to estimate, and personally, I wouldn’t buy it right now because the risk is too high. There are other tokens with better risk-reward ratios than NOT.
On the other hand, more liquidity may flow from TON to NOT because it is now considered a blue chip ecosystem token.
As you know, NOT is the token for the popular Telegram social clicker game, which later added leaderboards and squads features. At its peak, it reached an astonishing 35 million users!
Today, NOT is the main token of the Notcoin ecosystem, where you can explore and play mini-games on Telegram.
In addition to this:
Listed and supported on Binance
100% of tokens in circulation
Leveraged bet on $TON ecosystem
After a big rally, a token can pull back sharply, especially in a hype like NOT.
The likelihood of a pullback increases as more investors buy the token out of fear of missing out. These investors usually don’t have much confidence and can be easily scared off by an overall market correction.
A pullback may occur after a sharp rise
Other projects within the ecosystem may divert liquidity
NOT is the first "high-quality" token in the TON ecosystem. By high-quality, I mean that it has the attention of investors and is supported by the TON ecosystem and Binance.
It is certain that other tokens will follow.
A better approach may be to research and find other tokens in the TON ecosystem that may follow the success of NOT.
If you decide to buy tokens at this price, it is recommended to pay special attention to your risk management framework.
Consider Dollar-Dollar Averaging
Never invest more than you can afford to lose
Imagine how it would feel in a pullback
Come up with additional risk management steps
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