Cryptocurrency
Notcoin Rises Over 25% Despite Bearish Conditions as New P2E Token PlayDoge Raises $5.5M in ICO
Notcoin (NOT) is defying gravity in a market that’s currently struggling.
While most cryptos have been seeing red, NOT has surged 27% over the past week, catching the eye of investors.
This rally comes as another player in the crypto gaming space, PlayDoge (PLAY), passes the $5.5 million mark in its ICO phase.
Notcoin’s Impressive Comeback Surprises Investors
Notcoin is making an impressive comeback.
After a rough patch, NOT has bounced back aggressively, now trading around the $0.0169 level.
That’s a 27% jump since last Monday.
And if you zoom in on the action since Friday’s low, we’re looking at an enormous 83% surge.
The weekend was particularly kind to NOT, with the token’s price rallying hard.
Now, it’s eyeing its third consecutive green close – a feat that hasn’t been seen since the last week of May.
But it’s not just Notcoin’s price that’s impressive.
Spot volumes hit $1.1 billion in the past 24 hours, making NOT the 9th most traded crypto.
Notcoin’s market cap also returned to $1.7 billion.
And here’s an exciting thought for bulls: Another 74% price hike would see NOT return to its all-time high from early June.
This looked impossible just a few days ago.
Ultimately, it’s yet another example of how quickly cryptocurrencies’ fortunes can change.
Why is the Crypto Market in the Red?
Notcoin’s rally is even more impressive when you consider the bearishness in the market right now.
While NOT has been surging, most other cryptos have been seeing red.
The overall market’s taken a beating, mainly due to a triple whammy of economic uncertainties, ETF outflows, and some unexpected moves in Germany.
Investors are on edge, with US inflation concerns and interest rate jitters keeping everyone on their toes.
Adding to investors’ worries, spot Bitcoin ETFs have seen more outflows.
It seems like traders are playing it safe and reducing their exposure to BTC.
And on top of all that, Germany has been offloading some of its Bitcoin stash.
Over the weekend, addresses linked to German authorities sent just over $40 million to another address.
Blockchain sleuths speculate that this could be a sign the government is preparing to sell its BTC holdings.
Yet, despite all this doom and gloom, Notcoin has been thriving.
It’s a reminder that in the crypto market, sometimes the unexpected can happen.
Is This the Next Notcoin? PlayDoge ICO Hits $5.5M as Excitement Builds Over Nostalgic P2E Game
Speaking of projects bucking the trend, let’s talk about PlayDoge.
Despite the market’s gloomy outlook, this newcomer has been making moves in its ICO phase, raising over $5.5 million.
PlayDoge’s creators are tapping into the nostalgia factor with its retro-style P2E game.
This game allows players to care for a virtual pet, much like the Tamagotchis of the ‘90s.
But instead of just satisfaction, players will earn real crypto rewards.
These rewards are distributed in PLAY – PlayDoge’s native BEP-20 token.
On top of the P2E gameplay, PlayDoge offers staking opportunities, with annual yields estimated at 104%.
So, a player could theoretically compound their earnings by playing the PlayDoge game and then staking their PLAY tokens.
It’s a clever way to keep players engaged and invested in the ecosystem.
What’s intriguing about both Notcoin and PlayDoge is their ability to generate excitement in a market that’s experiencing a downturn.
They’re proving that projects with strong communities can still thrive even in bearish conditions.
PlayDoge certainly has that – more than 9,400 people are active on the official Telegram channel.
Of course, since PlayDoge is not yet available on the open market, it’s impossible to know how it will perform once trading begins.
But if the early hype is any indication, PlayDoge is in line for an exciting debut.
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After an eventful and highly volatile trading week, bitcoin’s price movements calmed during the weekend, and the asset sits quietly at $63,000.
Most altcoins have also stalled on a daily scale, but the weekly timeframe shows some impressive gainers from the likes of TAO, SUI, APT, and others.
Bitcoin Stalls at $63K
The week started with a price decline that drove BTC from over $60,000 to under $58,000. More volatility was expected mid-week when the US Federal Reserve met to discuss lowering the interest rate. Once that meeting took place and the US central bank cut the rates by 0.5%, BTC went on a rollercoaster with several big moves.
However, the bulls prevailed after the fluctuations and pushed the cryptocurrency from under $59,500 to over $64,000 registered on Friday. It became bitcoin’s highest price tag in over three weeks.
Nevertheless, the asset failed to maintain its run and retraced by just over a grand. Since then, it has been predominantly trading sideways at around $63,000. Still, it’s up by 4.6% on a weekly scale, which has pushed its market capitalization to just over $1.240 trillion.
Its dominance over the alts, though, has declined by 1% in the past few days to 54% (on CG) after soaring to 55% earlier this week.
Top Gainers
As mentioned above, the week quite well for most crypto assets. Ethereum is up by 7% in this timeframe and sits close to $2,700 now. SOL has increased by a similar percentage and is up to $147. BNB (5.5%) is above $585, SHIB has soared by 6%, while AVAX has gained almost 10% and trades north of $27.
Nevertheless, the top gainers from the larger-cap alts are TAO (47%), SUI (37%), and APT (28%). As a result, TAO sits at $477, SUI is close to $1.5, and APT trades at $7.85.
The total crypto market cap has added over $100 billion since last Sunday and is up to $2.3 trillion on CG now.
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Cryptocurrency charts by TradingView.
Global crypto exchange Bitget has announced a multi-million dollar partnership with iconic Spanish football league La Liga.
The company revealed the collaboration, which makes it La Liga’s official crypto partner, at the just concluded Token 2049 event in Singapore.
Strategic Partnership with Global Reach
In a statement released by Bitget on September 19, the Seychelles-based crypto exchange said the union is part of its attempts to gain a bigger foothold in Asia and Latin America, where football is hugely popular.
La Liga is home to some of the most successful football teams in the world, including Real Madrid and Barcelona, which boast hundreds of millions of fans worldwide. Games between the two, popularly known as “El Clasico,” are reportedly watched by upwards of 650 million people in over 180 countries.
The league also features some of the biggest stars in football, including Kylian Mbappé, Vinícius Jr., and Robert Lewandowski. With nearly 27 million followers between them on X alone, Bitget expects that its indirect association with such players gives it a massive platform to grow crypto adoption.
A recent report by Chainalysis shows that of the top 20 countries for crypto adoption, 13 come from the two regions Bitget is targeting. India, Indonesia, and Vietnam lead the charge among Asian countries, while Brazil, Venezuela, and Mexico are the highest-rated LATAM nations.
Interestingly, the same set of countries boast some of the most rabid football support, with a 2022 Nielsen survey on the state of world football showing Vietnam, Indonesia, and Thailand having some of the highest percentages of people interested in football in Asia.
Driving Crypto Adoption in Emerging Markets
The deal, reportedly valued at millions of dollars, is set to last for up to three years. It is part of Bitget’s commitment to growing crypto awareness through sports, aligning with its “Make It Count” philosophy.
By teaming up with La Liga, the company is looking to bring Web3 solutions to millions of football fans globally, especially in Asia and Latin America, where both organizations see significant potential.
Gracy Chen, Bitget’s CEO, echoed the sentiments, highlighting the growing connection between crypto and sports.
“Our partnership with La Liga is more than just a sponsorship. It’s about accelerating crypto adoption within sports and creating exciting opportunities for fans and athletes alike. We see sports as a powerful avenue to spread awareness about Web3 and blockchain technology,”
Backing up Bitget’s foray into sports, a recent report from Doors3 indicates that 75% of sports fans are eager for more personalized and privileged experiences, which technologies like Non-Fungible Tokens (NFTs) can offer.
Such innovations, some of which LaLiga has previously adopted, are transforming how supporters engage with their favorite teams, by offering virtual interactions, voting rights on club matters, as well as exclusive digital content.
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TL;DR
- Santiment ranked Oasis Network (ROSE) as the top AI cryptocurrency in development activity.
- Despite its 80% price rally over the past month, Artificial Superintelligence Alliance (FET) did not make the list.
The Leaderboard
Artificial Intelligence (AI) cryptocurrencies have been quite trendy lately due to the rising prices of many of the tokens encompassing that niche. The crypto analytics platform Santiment recently ranked the top 10 such assets in terms of monthly development activity, and in the following lines, we will present the results.
Oasis Network (ROSE) took first place with a score of 85.07. Near Protocol (NEAR), the largest AI-related cryptocurrency by market capitalization, occupied the second place. It is worth mentioning that the coin topped the previous ranking.
The Graph follows next in third place, whereas Oraichain (ORAI) and Bittensor (TAO) are fourth and fifth, respectively.
The rest of the AI cryptocurrencies down the line include Ocean Protocol (OCEAN), Golem (GLM), Aleph.im (ALEPH), Masa (MASA), and iExec RLC (RLC).
To conduct its research, Santiment touches upon numerous factors, such as tracking GitHub commits and code activity for development insights, monitoring on-chain data and observing social media trends to gauge community and market perceptions.
Which One is Missing?
It is interesting to note that one of the largest AI cryptocurrencies, with a market cap of over $4 billion, did not make the list. This is the Artificial Superintelligence Alliance (FET), which was formed by the merger of three major AI-related blockchain platforms: Fetch.ai, SingularityNET, and Ocean Protocol.
The asset’s price has been rallying lately, registering an 80% rise on a monthly scale. It currently trades at around $1.60 (per CoinGecko’s data), with some analysts envisioning much more substantial gains in the future.
Crypto Rover (a popular X user with over 800,000 followers), for instance, predicted FET could be “a great play this cycle,” seeing its price exploding to as high as $10 in the following months. Captain Faibik contributed, too, setting a midterm target of $3.90.
$FET Descending Broadening Wedge Upside Breakout is finally Confirmed..✅
Midterm Target : 3.90$#Crypto #FET #FETUSDT pic.twitter.com/QF4xkcVSWk
— Captain Faibik (@CryptoFaibik) September 20, 2024
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