Toncoin Sees 13% Surge After Telegram Messenger Support
Toncoin (TON), the native cryptocurrency of The Open Network, has experienced a significant boost in price, rising by 13% following news of support from Telegram Messenger. This surge comes after a period of downward movement and is a result of increased development activity on the layer-1 network.
At the time of writing, TON is trading at $1.92, with a market cap of $6.58 billion, making it the 11th largest cryptocurrency. TON’s trading volume has also seen a 73% increase, reaching $49.6 million in the past 24 hours.
Telegram Messenger now supports Toncoin, allowing its 800 million users to use TON. However, this feature may not be available for users in the U.S. TON aims to reach 30% of Telegram’s user base by 2028.
Despite a decline in social volume over the past few days, Toncoin’s price has risen by approximately 39% in the last month. Long-term investors may be attracted to TON, as there has been limited whale activity and a consistent amount of TON tokens on exchanges.
Hot Take: Toncoin Surges as Telegram Messenger Support Fuels Growth
Toncoin (TON) has seen an impressive 13% surge in value after receiving support from Telegram Messenger. The rally follows a decline in price and has been driven by increased development on the Open Network. TON is now trading at $1.92 and has a market cap of $6.58 billion, solidifying its position as the 11th largest cryptocurrency. The integration of Toncoin on Telegram Messenger allows the platform’s 800 million users to make use of TON, with plans to target 30% of Telegram users by 2028. While social volume has decreased recently, Toncoin has experienced a significant 39% increase in price over the past month, attracting investors despite limited whale activity and a steady supply of TON tokens on exchanges.
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