Toncoin (TON) has taken the cryptocurrency market by storm, landing a spot on the coveted list of the top 10 coins by market capitalization. With a market cap of $19 billion, this native token of The Open Network has surpassed Avalanche (AVAX) in value, according to data from CoinMarketCap.
In addition to its significant increase in market capitalization, Toncoin’s trading volumes have skyrocketed, surging by an impressive 91% in the past 24 hours and reaching $223 million.
Investors have been quick to take notice of Toncoin’s success, leading to a 6.3% surge in its price over the last day, as it reached $5.45 at the time of writing. This growth is even more remarkable when considering the coin’s overall performance since the beginning of the year, with a staggering 120% price increase.
However, Toncoin’s recent achievements are not isolated events but rather part of a larger success story. The coin’s rise dated back to September 2023 when it surpassed Tron (TRX) after launching a digital wallet on Telegram’s renowned messaging app. This pivotal moment in Toncoin’s history was announced during the Token2049 conference held in Singapore.
Further fueling Toncoin’s momentum, Telegram founder Pavel Durov unveiled a new financial reward system in March 2024. Channel owners on Telegram can now tap into the potential of the TON cryptocurrency by accepting it as payment for advertisements. In this innovative model, channel owners will be entitled to 50% of the advertising revenue, with withdrawals made available through the Fragment blockchain platform.
The positive trajectory of Toncoin only gained more momentum as news broke that Telegram had received a preliminary valuation of ‘$30 billion or more,’ setting the stage for a potential initial public offering (IPO). Additionally, crypto exchange Binance launched a perpetual futures contract for Toncoin, further bolstering its growth potential.
Toncoin’s ascent in both market capitalization and trading volumes signifies the immense potential of this native token. As it continues to make significant strides, monitoring Toncoin’s trajectory promises to be an exciting endeavor for cryptocurrency enthusiasts and investors alike.
Toncoin (TON) has emerged as a force to be reckoned with in the cryptocurrency market, solidifying its position among the top 10 coins by market capitalization. With a market cap of $19 billion, Toncoin has even surpassed Avalanche (AVAX) in terms of value. This remarkable achievement showcases the growing popularity and potential of Toncoin within the industry.
Not only has Toncoin experienced a significant increase in market capitalization, but its trading volumes have also soared. In just the past 24 hours, trading volumes for Toncoin have surged by an impressive 91% to reach $223 million. This surge in trading activity indicates a growing interest and demand for Toncoin among investors.
Investors have been quick to recognize the success of Toncoin, resulting in a 6.3% price surge over the last day. At the time of writing, Toncoin was valued at $5.45, reflecting substantial growth. This growth becomes even more noteworthy when considering that Toncoin’s price has increased by an impressive 120% since the beginning of the year.
While Toncoin’s recent accomplishments are impressive, they are part of a larger success story that began back in September 2023. At that time, Toncoin surpassed Tron (TRX) after launching a digital wallet on Telegram’s renowned messaging app. This pivotal moment in Toncoin’s history was announced during the Token2049 conference held in Singapore, generating substantial attention and interest in the coin.
The momentum behind Toncoin continued to build as Telegram founder Pavel Durov unveiled a new financial reward system in March 2024. This system allows channel owners on Telegram to accept TON cryptocurrency as payment for advertisements. Channel owners can now earn 50% of the advertising revenue and make withdrawals through the Fragment blockchain platform. This innovative model has further fueled Toncoin’s growth and adoption.
In addition to these developments, Telegram’s preliminary valuation of ‘$30 billion or more’ has heightened excitement for a potential initial public offering (IPO). This further underscores the positive trajectory of Toncoin and its potential for future growth.
To support Toncoin’s growth, Binance, a prominent crypto exchange, has launched a perpetual futures contract for Toncoin. This move by Binance not only provides more liquidity for Toncoin but also amplifies its growth potential within the market.
As Toncoin continues to make significant strides in terms of market capitalization, trading volumes, and price appreciation, it becomes an exciting cryptocurrency to watch for enthusiasts and investors alike. Its success serves as a testament to the burgeoning potential of native tokens within the cryptocurrency industry.
Related Links:
CoinMarketCap
Binance
Telegram
Token2049
Fragment