Pavel Durov Reports Quadruple Increase in NOT Tokens

Telegram founder Pavel Durov revealed that the 1 billion NOT tokens gifted to him two weeks ago have quadrupled in value, rising from $6 million to $24 million.

On May 16, NOT was listed on major cryptocurrency exchanges. The following day, the team behind the gaming Web3 project Notcoin announced that users had sent Durov 1,030,383,291,362 NOT.

The entrepreneur expressed his intention to hold onto the received coins until their price reaches $680 million. After that, the Telegram founder plans to purchase additional servers for the messenger.

“Yesterday [June 3], the daily trading volume of Notcoin reached $4 billion, securing it a spot among the top five most traded cryptocurrencies in the world,” wrote Durov.

According to him, millions of people have profited from Notcoin through a mini-application in Telegram. They continue to earn more, the entrepreneur noted.

“A month ago, Notcoin was the largest cryptocurrency community in the history of social media. Today, the Notcoin community competes only with projects it inspired — similar mini-applications in Telegram, allowing tens of millions of users to benefit,” Durov explained.

On June 2, NOT prices reached an all-time high of $0.029. Over the past week, the token has appreciated by 120%, according to CoinGecko. At the time of writing, NOT is trading at $0.021.

In late May, Notcoin introduced a new type of mission for passive NOT earnings. Users receive rewards for exploring applications of various partner projects and joining their communities on social media.

The cryptocurrency exchange Bybit prepared a compensation plan for clients affected by the delay in Notcoin deposits on the listing day. Due to communication and technical issues, users received tokens late and were unable to sell them immediately.