A fresh surge in value has propelled a new altcoin, associated with a popular viral game on the encrypted messaging platform Telegram, to achieve all-time highs this week, with an increase of nearly 160%.

The altcoin, called Notcoin, is specifically designed for the tap-to-earn mining game on Telegram. It began trading on May 16th after receiving support from Binance’s Launchpool platform, which enables users to stake coins and farm new assets.

Notcoin boasts over 1.6 million on-chain holders, surpassing other popular memecoins like Shiba Inu (SHIB), Bonk (BONK), and Pepe (PEPE).

The token is issued on the TON blockchain, which was originally developed by Telegram. However, following a legal dispute with the U.S. Securities and Exchange Commission (SEC), Telegram severed ties with the chain in 2020. The Open Network, an open-source community of developers, took over the management of the technology. Despite the separation, TON can still be sent by Telegram’s 700 million users within the platform without the need for lengthy wallet addresses.

Currently ranked 80th in terms of market capitalization, Notcoin is trading at $0.0127 as of now, a significant increase from $0.00489 a week ago.