(MENAFN- eTrendy Stock) Pavel Durov, the founder of the Telegram messaging platform, has publicly committed to holding onto his $6.8 million worth of Notcoin (NOT) until its value rises by 100x.
His announcement follows a significant NOT donation from the Notcoin project to Durov and his team. The donation, comprising over 1 billion Notcoin tokens, was given to Durov and his team by the Notcoin community.
This community comprises 552,586 members, 203,303 of whom earned their tokens through active participation in the project's game-based initiatives. In his remarks, Durov noted that half a million Notcoin users gave him $6.8 million worth of NOT.
Hence, he plans to keep these coins until their value reaches $680 million. He further said he would use the $680 million to purchase more servers for Telegram. Durov's commitment highlights his strong belief in NOT's long-term potential.
Notcoin Gains Backing from Durov
Before receiving the donation, Durov had publicly endorsed Notcoin, highlighting its rapid evolution from an in-game currency to a tangible asset with real-world value. He emphasized the transformative power of the Telegram ecosystem for app developers, citing unparalleled opportunities for viral distribution and scalability offered by the platform and its underlying technology.
In a reciprocal gesture, the Notcoin team acknowledged Durov and the Telegram team's role in fostering innovation and setting industry standards.
Notcoin's Market Impact
Notcoin's recent distribution of over 80 billion NOT tokens to game participants and its successful token generation event (TGE) have propelled the project into the spotlight. The token has been listed on several major crypto exchanges, signaling growing investor interest and market acceptance.
Powered by the TON Blockchain, Notcoin gained early traction through its viral tap-to-earn game on Telegram, which attracted 35 million participants and introduced users to Web3 technologies. Per current Coingecko data, NOT is trading at $0.00655, down 6.2% in the last 24 hours. Furthermore, NOT boasts a fully diluted valuation of over $700 million and robust trading volume after listing on the ByBit exchange.
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