Toncoin, The Open Community’s native cryptocurrency token, has as soon as once more entered the record of the ten most important cash by market cap.
In response to information from CoinMarketCap, Toncoin (TON) has overtaken Avalanche (AVAX) in market capitalization, reaching a market capitalization of $19 billion on the time of writing.
Supply: CoinMarketCap
Together with the rise in market capitalization, the token’s buying and selling volumes additionally jumped sharply, rising by 91% over the past 24 hours and amounting to $223 million.
TON additionally elevated in worth by 6.3% over the previous 24 hours, reaching $5.45 on the time of writing. Because the starting of the yr, the coin’s worth has risen by 120%.
Supply: CoinMarketCap
Toncoin’s market cap historical past
In September 2023, TON overtook Tron (TRX) after launching a digital pockets on Telegram’s standard messaging app. The announcement was made throughout the Token2049 convention in Singapore.
Telegram Founder Pavel Durov introduced a brand new monetary reward system for channel homeowners utilizing the TON cryptocurrency in March. Telegram customers should purchase ads utilizing Toncoin, and channel homeowners will obtain 50% of promoting income. Withdrawals will probably be accessible by means of the Fragment blockchain platform.
Additionally in March, Durov reported that Telegram had acquired a preliminary valuation of “$30 billion or extra” forward of a possible IPO, and crypto alternate Binance introduced the launch of a perpetual futures contract for Toncoin. Information of this gave impetus to the expansion of TON’s worth.
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