Another way to handle this is to have an “Inbox” tab where all new notifications appear, and you must manually “Archive” or clear them after they are read, after which they move to an “Archive” tab.
I like this model because it allows me to easily decide which notifications should continue to appear in my “Inbox”, where they stay on my radar – like a quick list of “things that need my attention”.
I have also been receiving requests for “archiving” and/or “clearing” of individual notifications to reduce the notification clutter of notifications that have been read, similar as described by @Matt_Blais.