Toncoin Surges Following TON Space Announcement
In the past week, Toncoin has experienced a significant price increase of over 48% after the announcement of TON Space. This announcement revealed that Telegram’s TON Space will introduce a self-custody cryptocurrency wallet for its massive user base of over 800 million users.
Investors are optimistic about this development, expecting it to drive greater adoption for $TON and maintain the altcoin’s upward trajectory. The recent surge has propelled Toncoin to the 9th position among the world’s leading cryptocurrencies based on market capitalization.
Toncoin Overview
$TON, also known as Telegram Open Network, was a blockchain platform designed by Telegram to support decentralized applications. It featured scalability, fast transaction processing, and advanced smart contracts. However, regulatory concerns raised by the SEC led to Toncoin being abandoned in 2020.
Despite its legal issues, $TON remains a notable milestone in blockchain platform development.
TON Price Prediction
Currently trading at $2.42 with a 5.79% increase in the last 24 hours, Toncoin is attempting to surpass its recent high of $2.50. If it succeeds, it could test the $2.64 resistance level and potentially rally towards the $3 milestone.
Despite bearish market conditions, Toncoin has maintained a bullish momentum.
Considering Investment in TON Coin
While the recent announcement is promising, some observers may have concerns about Toncoin’s evolution from a Telegram project and its potential confusion with ‘Gram’, an unregistered security according to the SEC. Telegram’s withdrawal from the TON project due to legal battles casts uncertainty over its future prospects.
Alternative to TON Coin: Bitcoin BSC
Bitcoin BSC (BTCBSC) is an innovative presale that offers attractive features and a clever concept. It operates on a more eco-friendly proof-of-stake blockchain, aiming to provide an enhanced version of Bitcoin for the modern era.
The presale has generated significant interest, raising over $2.9 million in a few days. With a total supply of 21 million BTCBSC tokens, the project allocates 69% to staking rewards, 29% to the presale, and 2% to DEX liquidity.
Hot Take: Bitcoin BSC Emerges as an Alternative
Considering the legal uncertainties surrounding Toncoin and its association with Telegram, Bitcoin BSC presents itself as a promising alternative. Its eco-friendly approach and generous tokenomics make it an appealing choice for investors looking for potential returns.
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