Hamster

Notcoin

Notcoin price is stuck in a bear market as concerns about the rising competition in the tap-to-earn market continue. The NOT token was trading at $0.014 on Monday, down by over 52% from its highest level this year.&nbsp; 
One of the main concerns among investors is that competition in the tap-to-earn industry is rising. Most of this competition is coming from platforms like Dotcoin, TapSwap, and <a href="https://crypto.news/notcoin-price-plummets-as-focus-shifts-to-dotcoin-hamster-kombat-blum/" target="_blank" rel="noreferrer noopener">Hamster Kombat</a>.&nbsp; 
Hamster, which has <a href="https://crypto.news/russian-roots-of-hamster-kombat-journalists-revealed-the-game-founders/" target="_blank" rel="noreferrer noopener">Russian roots</a>, has broken the record of being the first tap-to-earn network to hit 200 million users from around the world. 
The platform has also broken records in social media. <a href="https://www.youtube.com/@HamsterKombat_Official/videos" target="_blank" rel="">YouTube data</a> shows that Hamster Kombat’s channel has grown to over 31 million subscribers. It has posted 144 videos, which have been watched over 569 million. 
This performance makes it the fastest-growing YouTube channel since it was created on May 24th. Hamster’s Telegram channel has over 48.7 million subscribers while its X page has over grown to over 11 million followers. 
Hamster’s following has become larger than most players in the crypto industry. Solana has 2.7 million X followers while Ethereum Foundation has 3.4 million followers. 
The network has also overtaken Notcoin, which has over 40 million users and 1.8 million X followers and its growth is slowing.&nbsp; 
Hamster Kombat is not the only Notcoin rival that is growing. TapSwap has accumulated over 60 million users and 6.4 million X followers. All this explains why the NOT token has lost momentum among traders and players.&nbsp; 
<h2 class="wp-block-heading" id="notcoin-volume-has-dropped">Notcoin volume has dropped</h2> 
Third-party data shows that Notcoin’s demand has started waning. According to <a href="https://www.coingecko.com/en/coins/notcoin/historical_data" target="_blank" rel="">CoinGecko</a>, Notcoin’s 24-hour volume stood at over $312 million. At its peak a few weeks ago, the token’s volume was averaging over $1.4 billion.&nbsp; 
The same trend is happening in the futures market where open interest has dropped. Data by CoinGlass shows that the open interest peaked at over $282 million on June 7th and has dropped to $159 million. Most of the open interest is from companies like Binance, OKX, and Bitget.&nbsp; 
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Notcoin open interest 
The token has retreated as the developers ponder ways to boost its ecosystem growth. In an X post last week, the developers asked its community about the next projects to integrate in the network. The options were Telegram games and memes, Web3 tools, and education and communities. 
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 Notcoin Explore is about to become a public platform for web3 projects worldwide What projects do you want to see there more?— Notcoin Ø (@thenotcoin) <a href="https://twitter.com/thenotcoin/status/1806785310837154102?ref_src=twsrc%5Etfw" target="_blank" rel="">June 28, 2024</a>
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It is unclear whether Notcoin’s efforts to diversify will work out well since most users started using it for its tap-to-earn features.

Notcoin price is in a bear market while Hamster Kombat breaks 2 records

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